A gift by Will is also known as a charitable bequest and is the most common type of planned gift. Through your Will, you can ensure your family is taken care of financially, and also make a significant impact on your community through your generosity.
What are the Different Types of Gifts by Will?
- a specific bequest – an outright gift of money or property
- a residual bequest – a percentage or share of the value of your estate after all debts and taxes have been paid
- a contingent bequest – a gift dependent on the occurrence of another event i.e., the death of a spouse
- a testamentary trust – established in a Will for the purpose of directing assets (i.e., securities) immediately and directly to your named beneficiaries which can include family and or charity
How Does it Work?
Making a bequest to Sechelt Hospital Foundation is easy to do when you make or revise your Will. Your gift may be used to purchase equipment, construct new facilities, fund research activities and develop new programs at Sechelt Hospital. We encourage individuals to seek advice from their professional advisor when preparing a gift to Sechelt Hospital Foundation.
How Does a Bequest Benefit Me as a Donor?
With a Will, you know your loved ones will be taken care of according to your wishes. Your bequest is a statement of what is important to you and it creates a legacy of caring for the future needs of health care on the Sunshine Coast. Planning a gift in your Will gives you the assurance that your family and loved ones will have access to excellent healthcare in the future.
It is easy to arrange and allows you to make a future gift to Sechelt Hospital while not affecting your income today, because the gift is not received until the end of your lifetime.
What are the Benefits of Making a Bequest?
A bequest made to Sechelt Hospital Foundation generates a tax credit that offsets the tax otherwise payable. Tax credits may be used in the personal or estate returns, and may result in significant income tax savings with a corresponding increase in your net estate. A gift in your Will can help eliminate taxes owned by your estate and can be claimed in the year of death and or the five following tax years.
How Will my Future Gift be Used?
Your gift to Sechelt Hospital will enhance patient care all across our Hospital, enable the purchase of much-needed medical equipment, be an investment in ground-breaking research, or create opportunities to train the healthcare professionals of tomorrow. Bequests can be directed to the areas of greatest need or to specific programs/departments such as:
- Surgical Services
- Mental Health & Substance Use Services
- Home Care
- Ambulatory Care Unit (Chemo, Medical Day Care, specialist clinics)
- Maternity
- Emergency Department
- Medical Imaging Department
- Palliative Care
- Education
How Can I be Sure my Wishes Will be Carried Out?
Sechelt Hospital Foundation makes every effort to ensure your legacy gift is used as directed by your Will. Please contact us to discuss language for your Will and request sample Will clauses. Any information that you share with us will be kept in confidence. As with any planned gift, the Sechelt Hospital Foundation strongly recommends that you speak with your accountant, legal advisor or financial planner so that your needs and the needs of your family are taken into consideration.
The best medicine is local.
For more information, please contact: Jane Macdonald, Executive Director at 604-885-8637 or by email at sh.foundation@vch.ca
Legal Name: Sechelt Hospital Foundation Society Charitable Registration #: 88915-7194-RR0001
Address: P.O. Box 1761 Sechelt BC V0N3A0