Many Canadians support charitable organizations through future gifts from their estates. A Charitable Bequest is a direction in your Will that instructs your Executor(s)/Trustee(s) to leave one or more of your assets to a charitable organization(s). A Charitable Bequest is a way to support CIFAR while helping you achieve significant tax savings for your estate. A Charitable Bequest is a meaningful way to reduce your taxes, increase inheritances to your loved ones and make a difference.
Charitable Bequest – The Benefits to You
- Convenient – A Charitable Bequest can be made no matter how old you are and can be for any amount you want.
- Simple – A Charitable Bequest is easy to arrange. Simply instruct your lawyer to include a bequest to CIFAR in your Will.
- Cost-effective – There are no extra out-of-pocket costs. Your present income will not decrease.
- Tax Planning – CIFAR will issue a charitable tax receipt for the full value of your bequest.
- Flexible – Your bequest can be for a specific amount, a percentage of your estate, or the residue of your estate.
- Control – You retain use of the charitable gift asset for the duration of your lifetime.
- Satisfaction – Planned gifts are made for personal reasons in addition to ensuring that CIFAR continues to dedicate itself to building global research networks that create ideas that can change the world. As well, your bequest can create a lasting memorial for you, your family or anyone you may wish to honour.
For the greatest flexibility in meeting urgent needs, CIFAR prefers bequests to be unrestricted. However, if you wish to designate your gift, we are happy to discuss that option with you. To enable us to use designated bequest funds as intended yet accommodate the unforeseen, please ask for our sample bequest language document.
For further information, please contact Mariko Kojima Manhas, Interim Manager, Individual Giving, at 1-416-971-4877 or email firstname.lastname@example.org
Please Seek Expert Advice
CIFAR strongly recommends you seek professional advice to ensure your financial goals are considered, your tax situation is reviewed, and your planned gift is tailored to your circumstances. CIFAR recommends you consult your lawyer or estate planner regarding the specific wording of any Charitable Bequest.
Click here for a PDF sample of charitable bequest language.