A Bequest in Your Will

A charitable bequest is a gift made by Will. A bequest is one of the simplest ways to make a gift to the Alberta Children’s Hospital Foundation -- and often at a level not possible during one’s lifetime.

Benefits to you:

• A Will enables you to distribute your money and property as you choose.
• As a donor you can be assured that your family and loved ones are provided for and content with the knowledge that you are also supporting the Alberta Children’s Hospital.
• A bequest in your Will to the Alberta Children’s Hospital Foundation can significantly reduce taxes payable upon death.
• A Will comes into affect upon death, therefore, you retain the right to alter your gift throughout your lifetime.

Tax Advantages:

A bequest to the Alberta Children’s Hospital Foundation will provide a tax benefit to your estate. Your estate will receive a charitable donation receipt for the full value of the bequest, which will reduce the tax payable by the estate. If the total bequest cannot be used for tax purposes on your final tax return, the excess may be carried back to the previous tax year creating a reduction in taxes previously paid. The donation claim limit is 100% of net income in each of those years. 

Types of Bequests:

• Undesignated bequest - allows the hospital to use your gift where the greatest need exists.
• Designated bequest - a gift intended to be used for a specific purpose within the hospital (such as a particular program, research project or piece of equipment).

How to make a bequest to the Alberta Children’s Hospital Foundation:

Wills can be complex documents and should be drafted with the assistance of legal counsel. The wording of a bequest, if not crafted properly, can become difficult to administer. This is particularly true in cases of ambiguity, department name changes, or the evolution of areas of clinical care. To ensure correct and timeless wording that best honours your true intention, we would be delighted to help you and your advisor fine-tune the relevant clause in your Will. 

Proper Legal Name:

The proper legal name for making a gift to the Alberta Children’s Hospital is:
ALBERTA CHILDREN’S HOSPITAL FOUNDATION.
Our Registered Charity number is 13037 3244 RR0001.

Sample Bequest Wording:

Bequests for Unrestricted Purposes

Unrestricted purpose:  your gift will be applied to “greatest needs”
General Bequest: directs that the charity receive a specific amount or a certain kind of property, usually a sum of cash.

“I give, devise and bequeath the sum of ______ dollars to the Alberta Children’s Hospital Foundation in the City of Calgary, Alberta, to be used for such purposes as the Board of Directors of the Alberta Children’s Hospital Foundation may from time to time determine. I declare that the receipt of the Treasurer, or other person properly authorized to give receipts, shall be a sufficient discharge of my Executor.”

Specific Bequest: directs that a charity is to receive a specific piece of property.

“I give, devise and bequeath ______________[example:  “100 units of my shares in XYZ Mutual Fund”;  “my cottage located _____”] to the Alberta Children’s Hospital Foundation in the City of Calgary, Alberta, to be used for such purposes as the Board of Directors of the Alberta Children’s Hospital Foundation may from time to time determine. I declare that the receipt of the Treasurer, or other person properly authorized to give receipts, shall be a sufficient discharge of my Executor.”

Residual Bequest: designates all or a portion of whatever remains after all debts, taxes, expenses and all other bequests have been paid.

“I give, devise and bequeath_______[a portion of, example: “25% of”; all of, example: “100% of”] the rest and residue of my estate to the Alberta Children’s Hospital Foundation, in the City of Calgary, Alberta, to be used for such purposes as the Board of Directors of the Alberta Children’s Hospital Foundation may from time to time determine. I declare that the receipt of the Treasurer, or other person authorized to give receipts, shall be a sufficient discharge of my Executor.”

Contingent Bequest: takes effect only if the primary intention cannot be met (e.g. if the primary beneficiary does not survive the donor).  This ensures that the property will pass to the charity rather than unintended beneficiaries (including government).

“If ____[name of primary beneficiary] does not survive me, or shall die during the administration of my estate, within ninety (90) days from the date of death, or as a result of a common disaster, then I give, devise and bequeath _____to the Alberta Children’s Hospital Foundation in the City of Calgary, Alberta, to be used for such purposes as the Board of Directors of the Alberta Children’s Hospital Foundation may from time to time determine. I declare that the receipt of the Treasurer, or other person properly authorized to give receipts, shall be a sufficient discharge of my Executor.”

Bequests for Restricted Purposes

Restricted purpose:  you have identified a specific area of care, field of interest, etc., that you wish your gift to be directed to.

“I give, devise and bequeath ___________ [cash example: “the sum of $10,000”; property example: “100 units in XYZ shares”; residual example: “50% of the rest, residue, and remainder of my estate”] to the Alberta Children’s Hospital Foundation in the City of Calgary, Alberta, to be used to treat children in the [example: “Oncology Clinic of the Alberta Children’s Hospital”]. I declare that the receipt of the Treasurer, or other person properly authorized to give receipts, shall be a sufficient discharge of my Executor.”

Note:  We recommend that you include language that permits the charity to use the gift for a different purpose if circumstances change that make it impossible or impracticable to carry out the original purposes.  This is called a Power to Vary clause.

“In the event that, in the opinion of the Board of Directors of the Alberta Children’s Hospital Foundation, it should become impossible, inadvisable, or impractical to apply this gift for said purpose, the gift may be used for other purposes consonant with the spirit and intention of this gift.”