A bequest or gift made through a will is a simple and thoughtful way to leave a personal legacy that represents your life and values. It is an option open to anyone, not just those with large estates.

Leaving a legacy gift means you can make a greater financial contribution to the organization of your choice,  while retaining your current assets and maintaining your lifestyle. Whether you choose to establish a set dollar amount or a percentage of your estate, a bequest made in your will to Wellspring, can allow you to make a difference in the lives of others, for generations to come.

The benefits of leaving a bequest to Wellspring

• Your estate will be entitled to a donation receipt for the full value of the bequest, which may significantly reduce taxes payable by your estate.
• Your estate may claim donations for income tax purposes of up to 100 per cent of the net income for up to 36 months after death, and can be carried back for up to two prior years of the estate.
• If the bequest is funded with publicly-listed securities, there will be no capital gains tax payable on the securities donated, under current legislation.
• A bequest is revocable and can be changed if your financial situation changes.

How do I make a bequest to Wellspring?

Making a bequest is simple. If you have already prepared your will, you can update it with a codicil, which is a supplementary document added to the existing will, describing your gift intentions.

If you have not yet prepared a will, we recommend you do so as soon as possible. This is an important first step to ensure that your intentions for your estate are documented, and that your family and loved ones will be taken care of, properly.

You may make a specific bequest to Wellspring, or you may make a residual bequest, which means that you designate all or a percentage of the remaining portion of the estate, after debts, taxes, and administrative expenses have been paid.

It is important that you consult with a lawyer when drafting your will as well as when updating it when your circumstances change.

If you plan to include a bequest in your will for Wellspring, please include:

Our legal name: Wellspring Cancer Support Foundation

Our charitable registration number is: 89272 8940 RR0001
For more information on Wellspring’s Planned Giving Program, please contact Rebecca Babcock at 416-961-1928 or rebecca@wellspring.ca.

Sample wording for including a gift in your will to Wellspring Cancer Support Foundation:

When planning your individual estate, Wellspring recommends that you consult with your professional advisor to maximize your individual estate tax plans.  We would be pleased to meet with you and/your advisors to provide additional information or a sample financial illustration tailored to your needs.

The following will clauses can be provided to your lawyer when arranging a bequest gift to Wellspring.

To give a specific amount:

“I give to Wellspring Cancer Support Foundation, 4 Charles St. E., Suite 300, Toronto, Ontario, M4Y 1T1,  Charitable Organization Number:  89272 8940 RR0001, the sum of $XXX of my estate to be used for its purposes within the GTA.”

To give a percentage of the estate:

“I give to Wellspring Cancer Support Foundation, 4 Charles St. E., Suite 300, Toronto, Ontario, M4Y 1T1,  Charitable Organization Number:  89272 8940 RR0001, XX% of the rest, residual and remainder of my estate to be used for its purposes within the GTA.”

To give a specific asset, such as shares in a company:

“I give to Wellspring Cancer Support Foundation, 4 Charles St. E., Suite 300, Toronto, Ontario, M4Y 1T1, Charitable Organization Number:  89272 8940 RR0001, XX shares of Company Shares, to be used for its purposes within the GTA.”

To designate your gift for a specific program at a specific centre:

“I give to Wellspring Cancer Support Foundation, 4 Charles St. E., Suite 300, Toronto, Ontario, M4Y 1T1,  Charitable Organization Number:  89272 8940 RR0001, the sum of $XX in support of Cancer Exercise Program at Wellspring Westerkirk House at Sunnybrook.”

Power to Vary Provision

In order to ensure that your contribution is utilized according to your wishes with the maximum amount of flexibility, please consider including this “Power to Vary” provision:

“If, in the opinion of the Board of Directors of Wellspring Cancer Support Foundation (Charitable Organization Number: 89272 8940 RR0001), it should become impossible, inadvisable, or impractical to use this gift for the purposes of supporting _______________________, then the Board of Directors may in its discretion use the gift to the best advantage of Wellspring Cancer Support Foundation (Charitable Organization Number: 89272 8940 RR0001), keeping in mind the original wishes of the donor.”