Legacy Gift FAQ’s
More than one million Canadians have left gifts to their favourite charities in their wills. As our population ages, that number is expected to increase. Individuals with families often find that with their children well-established, they have the ability to make this kind of transformative gift. And those without children find that they can make an even greater impact in their community by leaving a charitable bequest.
If you already have a will, there’s no need to re-write it in order to include your gift to Collingwood General & Marine Hospital Foundation. You can use a special legal clause called a codicil to amend your will and add your intent to make a bequest. As always, we strongly encourage you to speak with your financial planner or lawyer when making a charitable bequest.
There’s no limit to the number of charities you can remember with gifts in your will. If you think of your estate as a pie, you can cut it into as many different sized slices as you like!
Both present and future gifts are very much needed and appreciated. And you don’t need to make a choice between making a gift now or later. Many donors choose to continue making regular gifts in addition to their intention to leave a gift in their will. You could even give to our endowment fund, which preserves the capital that’s contributed to it and funds vital Hospital projects with the interest accrued each year.
There are many ways to support health care in our community through a gift in your will while also providing for your family, including residual and percentage giving. More and more Canadians are finding they are able to provide generously for their families and make meaningful contributions to the charities they care about.
The government does provide funding for hospital operating costs, such as providing medical care, medications or operating medical technology. But capital projects, such as new equipment and technology, are only made possible with the generous support of our community.
If you’ve decided to leave a gift in your will, the following is the information you need to add the Collingwood General & Marine Hospital Foundation to your will. You can bring this along to an appointment with your lawyer:
I direct my Estate Trustee to pay or transfer (describe the gift, i.e. sum of money, article of property including sufficient detail to describe it accurately) to the Collingwood General & Marine Hospital Foundation and I declare that the receipt of the person professing to be the Treasurer or other proper office of such charitable institution shall be a sufficient discharge to my Trustees who need not see to the application thereof.
If you already have a will, a simple amendment to your will (or ‘codicil’) may be all that you need.