Gifts By Will or Bequest
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Wills and estates leave a lasting legacy. A number of our donors have decided to leave a gift to the Community Foundation through a bequest, which is a donation noted in a Will. A bequest can be made in the form of cash or property by including the Lethbridge Community Foundation as a beneficiary in your will. It is simple to arrange and can help reduce the tax paid by your estate. As you may make changes at any time, you retain full control of your gift and can easily add a codicil to the will to meet changing circumstances.
You may also make a residual bequest to the Lethbridge Community Foundation. A residual bequest of all or a fraction of whatever remains after all debts, taxes and other bequests are paid. Consult your professional advisors so that your gift takes into account your overall estate and tax planning considerations.
What should I say in my bequest? If you would like to leave a gift to the community as a charitable bequest in your will, we can assist you with the wording. We recommend that you contact your lawyer for advice before making a planned gift. [sample clauses]
While there is no obligation on your part to discuss your gift with the Foundation, contacting us when you are preparing your will or planning your estate will help ensure your wishes are understood when you are no longer able to make them clear, no matter what the amount. If you are planning to make a gift of $10,000 or more, we recommend that together we put a simple fund agreement in place now to set the terms of the named endowment fund that your will creates. The agreement does not obligate you to make the gift. It simply helps ensure that we understand how you wish your gift to be used once we receive it. If you wish, memorial donations made in your name will be added to the fund, or pooled with your donation and used in the purposes you desire.
If you are considering leaving a legacy to Lethbridge Community Foundation in this way, please contact the Executive Director at 403-328-5297 to discuss your gift.
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Updated September 2009
www.lethbridgecommunityfoundation.ca
403.328.5297 office@lethbridgecommunityfoundation.ca 404 8th St South
