Charitable Will Bequest

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) to leave one or more of your assets to a charitable organization(s). A Charitable Will Bequest is a way to support the Canadian Mental Health Association Toronto Branch while helping you achieve significant tax savings for your estate. A Charitable Will Bequest is a meaningful way to reduce your taxes and increase your inheritances to your loved ones.

A Charitable Will Bequest - The Benefits to You

• Convenient
  A Will bequest can be made no matter how old you are and can be for any amount you want.
• Simple
  A bequest is easy to arrange. Simply ask your lawyer to include a bequest to the Canadian Mental Health Association Toronto Branch in your Will.
• Flexible
  Your bequest can be a specific amount, a percentage of your estate or the residue of your estate (a gift after your debts have been paid and other bequests made).
• Cost-effective
  There are no extra out-of-pocket costs. Your present income will not decrease.
• Tax Relief
  A charitable Will bequest is the only effective method to reduce estate taxes.
• Tax Planning
  The Canadian Mental Health Association Toronto Branch will issue a tax receipt for the full value of your bequest. This receipt will be used to reduce the tax payable on your final tax return. If your bequest exceeds 100% of your net income, the excess may be carried back to the previous tax year.
• Control
  You retain use of the charitable gift for the duration of your lifetime.
• Peace of Mind
  You can make changes in your Will at any time.
• Satisfaction
  Planned gifts are made for personal reasons, in addition to ensuring that the Canadian Mental Health Association Toronto Branch continues its long commitment to people and community mental heath care and striving toward its vision of mentally healthy people in a healthy society. Your bequest can symbolize a lasting memorial for you, your family or anyone you may wish to honour.

Please Seek Expert Advice: The Canadian Mental Health Association Toronto Branch strongly recommends professional advice to ensure that your financial goals are considered, your tax situation reviewed and your planned gift is tailored to your circumstances. The Canadian Mental Health Association Toronto Branch recommends that you consult your lawyer or estate planner regarding the specific wording of any charitable Will bequests. For sample charitable bequest clauses, or if you would like to know more, please call 416-789-7957 ext. 262.