A bequest is a donation in your will that is distributed by your estate after your death.
Upon your death, the Foundation will issue a donation receipt for the bequest. This receipt will result in a tax credit that may be claimed for up to 100 per cent of your taxable income in the year of death and the preceding year.
Common types of bequests, and the wording to include in your will:
The Ottawa Hospital Foundation receives a specific (or fixed) amount of money.
"I give the sum of $________ (dollars) to The Ottawa Hospital Foundation in the City of Ottawa, Province of Ontario, Canada."
A gift of all or a percentage of whatever remains (the "residue") after all taxes, liabilities, administrative expenses and specific bequests have been paid. The greatest advantage of this bequest is that, as your estate increases or decreases in value over time, your donation remains proportionate.
"I give the rest, residue and remainder of my estate [or ___ % of the residue] to The Ottawa Hospital Foundation in the City of Ottawa, Province of Ontario, Canada."
Takes effect only if the primary intention cannot be met. For example, you direct the Foundation to receive a portion of your estate if other beneficiaries do not survive you.
"If [name of beneficiary] does not survive me, or shall die within thirty days from the date after my death, I give to The Ottawa Hospital Foundation, City of Ottawa, Province of Ontario, Canada, ___ % of the residue of my estate [or $____ ]."
For additional wording and information about bequests, please contact Heather McLean, VP, Development and Corporate Philanthropy, at 613-798-5555 ext. 13034 or email@example.com.