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A gift in your will is one of the most effective ways to ensure that the Spina Bifida & Hydrocephalus Association of Ontario (SB&H) can continue their important work. With your gift we can improve the lives of children, parents and adults living with spina bifida and/or hydrocephalus. The Association also continues to invest in a future of improved treatment options and research to one-day find a cure.
A charitable bequest is a gift designated in your will that becomes available to the Association after your death. When you make a donation to SB&H, your estate is entitled to a donation receipt for the full value of your gift. The resulting credit can significantly reduce the taxes payable when your final income tax return is filed. Your legacy could help improve care and reduce the incidence of spina bifida and/or hydrocephalus for generations to come.
Your will is an important part of your estate planning. Charitable bequests can take many forms and often consist of cash, property and/or securities. Your legal advisor or estate planner can help you prepare a will that meets your individual wishes and requirements.
A properly prepared will provides you with the security of knowing that your estate will be distributed in accordance with your personal values and wishes.
First make a complete list of your assets and liabilities to help give you a true picture of the value of your estate. Look at property, life insurance, business ventures, personal items - all of these need to be taken into consideration.
Second, you must select your beneficiaries. Think about the people and organizations you wish to remember in your will and decide how you would like to divide your estate between them. Without a will, your property and finances are settled according to federal and provincial laws, which may not reflect your wishes and may put a financial strain on your estate. Therefore, a will makes good sense.
Remember to keep your will flexible. Use percentages rather than fixed amounts so that changes in your finances will not force a complete revision. Remember to choose a residual beneficiary. You may have thought of everything, but this ensures you have done so.
Sample Wording for a bequest to SB&H
“I give to the Spina Bifida & Hydrocephalus Association of Ontario the sum of (state the dollar amount).”
“I give to the Spina Bifida & Hydrocephalus Association of Ontario the percentage of (state the percentage amount).”
“I give to the Spina Bifida & Hydrocephalus Association of Ontario (describe the property or assets).”
Finally, choose your personal representative or Executor with care - someone you can trust, someone who is able to handle the job. The Executor will protect and administer your estate ensuring the distribution of assets is in accordance with the instructions in your will. Consider using professionals. Even though it may cost a little more, you know that your affairs are in good hands, and the possibility of family conflicts are minimized.
It is just as important to review your will and make changes that reflect your changing life, such as marriages, children, grandchildren, buying or selling property or simply changing your mind.
For more information email firstname.lastname@example.org or call 800-387-1575.