A gift of a specific dollar amount or a gift of an identifiable piece of property, such as land or share.
Legacy Gift in your Will
A Legacy Gift in your Will
A gift in your Will shows more than just foresight and careful planning, it reveals a lasting commitment to the health of our community.
Most legacy gifts are bequests – gifts established in someone’s Will. After loved ones and others are cared for through your estate, this type of gift would allow your estate to realize tax savings in the future.
Usually, these gifts enable people to make a more substantial contribution than they could manage during their lifetimes. That means a gift to Health Sciences North Foundation in your Will would have a deep impact on the future of the health of our community.
Your Will has Power!
Health Sciences North Foundation is proud to be a part of Will Power. Your will is powerful. Change the world with a charitable gift in your Will, while still supporting those you love.
What are your next steps?
- Create a will that reflects your wishes. You can make your bequest in honor or in memory of someone special.
- If you already have a Will and are considering a bequest to Health Sciences North Foundation, the easiest and least expensive way to make a small change in your existing will is to add a codicil. The codicil will retain all the provisions of your Will, except those that are modified by this addition.
- Make an appointment with your lawyer to draft or revise your Will. Your lawyer will help you with the key information and details. Health Sciences North Foundation has sample wording available to assist you and your lawyer.
After first taking steps to ensure your loved ones and heirs are cared for through your estate, a bequest gift to Health Sciences North Foundation can be a truly exceptional way to create a legacy for the future.
Types of Bequests
Specific Bequest
Residual Bequest
A gift of all or a percentage of the remainder of your estate after special gifts have been fulfilled and estate taxes and capital gains taxes have been paid.
Contingent Bequest
A gift of all or a share of your estate only in the event of the prior death of certain other beneficiaries.
Creating your legacy through a bequest for health Sciences North Foundation in 3 easy steps
Make the decision that creating a bequest gift through your Will is the right step for you to take. Determine the type and amount of the gift you wish to make and if you wish to have it used for Health Sciences North Foundation priorities.
Call your lawyer and request that they include a codicil in your Will that establishes a gift for Health Sciences North Foundation. Provide your lawyer with the legal written name which Health Sciences North Foundation – please see below. Your lawyer will handle the remaining details. Many lawyers will include this codicil in your Will without cost.
If you feel comfortable, contact us to let us know when your gift has been created. This will allow us to add your name to our list of donors who have told us they will be remembering Health Sciences North Foundation in their estate plan and give us an opportunity to express our gratitude.
For more information on gifts through your Will to Health Sciences North Foundation please contact our Foundation staff.
Sample Codicil Wording
“I hereby give to the Health Sciences North Foundation the sum of $ ____ [or % share of my estate] to be used for its general purposes [or designated purposes outlined here].
“I devise and bequeath (all/or ___%) of the remainder of my property to the Health Sciences North Foundation to be used or disposed of as its Board of Directors in its sole discretion deems appropriate.”
Bequests enable individuals to make significant gifts that they may not have been able to make while living – gifts that continue to make a difference for many years.
Your bequest to support the Health Sciences North Foundation may be directed for general use by the Health Sciences North Foundation, or for a special purpose that you may designate. A bequest can be a specific amount of money, a specific asset, or it can be a percentage of the residue of the remainder of your estate to be distributed after specific bequests are paid.
In many cases, your lawyer will not charge you for such an inclusion if your intention and the wording for the codicil are provided to them. Here are some types of bequests and codicil wording.
If making a gift, please include our legal name and address:
Health Sciences North Foundation
41 Ramsey Lake Road
Centre Tower, Level 2
Sudbury, ON P3E 5J1
Charitable Number: 89286 8480 RR0001