Your will is the final great declaration of your values and an opportunity to pass them onto your loved ones and the next generation. After having ensured your family’s protection and well-being, leaving a legacy gift to CECI demonstrates your commitment to international solidarity. Anyone can leave a legacy gift, or revoke it at any time as it only takes effect after the donor has passed away.
There are several different ways to leave a legacy gift.
Specific Bequest
Leaving a specific bequest means giving an amount or percentage of an asset, property, securities (shares, RRSPs, RIFFs) or of a life insurance policy. (Example: I bequeath to CECI, registered charity number 118846575 RR 0001, the sum of $....)
Residual Bequest
Leaving a residual bequest means giving the remainder of the estate after all debts and specific bequests have been paid. This type of legacy can be bequeathed to a single beneficiary or shared among several beneficiaries, as a percentage, or in equal or unequal parts. (Example: After paying my debts and my specific bequests, as enumerated, I leave the residue of my estate to CECI, registered charity number 118846575 RR 0001.)
Universal Bequest
Leaving a universal bequest means that your entire property is given to one or several people and/or charities. (Example: I leave my property to CECI, registered charity number 118846575 RR 0001, and to my cousin, Denise Tremblay, in a proportion of 1/3 and 2/3 respectively.)
Contingent Bequest
You can also designate CECI as your beneficiary in the event that the primary beneficiary does not survive the donor or simultaneous death. (Example: I leave my spouse, who I designate my sole universal legatee, all of my property. Should he/she pass away before me or die within 30 days of my passing, I designate CECI, registered charity number 118846575 RR 0001, as my substitute universal beneficiary.)
NOTE: This information is provided as a guide only. It is always recommended that you consult your own professional advisors (accountant, tax expert, broker, financial advisor, notary or lawyer) to find out about the tax impact of this type of donation.
For more information on planned giving, please contact Ginette Michaud at 514-875-9911 ext. 283, or by email at ginettem@ceci.ca.
