What is a Bequest?

A bequest or gift by will is a simple and thoughtful way to leave a personal legacy, representing your life and values.  Whether it is a set dollar amount or a percentage of your estate, a bequest in your will to Wellspring can allow you to make a difference for generations to come.

What are the Benefits?

Your estate will be entitled to a donation receipt for the full value of the bequest, which may dramatically reduce taxes payable by your estate.

Your estate can claim donations for income tax purposes of up to 100% of the net income in the year of death, and any excess amount can be carried back one year.

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.

You will be invited to join Wellspring Legacy Giving Society and receive recognition today for your future commitment to Wellspring.

How Do I Make a Bequest?

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

If you have not yet prepared a will, we recommend you do so soon. 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 properly taken care of.

You may make a specific bequest, which means a specific gift amount will be bequested 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 to Wellspring, 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 regularly reviewing and updating it when your circumstances change.

Our Legal Name and Contact Information

Our legal name is: Wellspring Cancer Support Foundation

Our charitable registration number is: 89272 8940 RR0001

Wellspring Cancer Support Foundation
4 Charles St. E., Suite 300
Toronto ON M4Y 1T1
Tel: 416-961-1928 ext 225                                                                        Email: rebecca@wellspring.ca

Sample Wording for your Will

Sample language for including a gift in your Will to Wellspring Cancer Support Foundation

To give a specific amount

“I give the sum of $_____ in cash to WELLSPRING CANCER SUPPORT FOUNDATION (Charitable Organization Number: 89272 8940 RR0001) to be used where it is needed most.”

To give a percentage of the estate

“I give to WELLSPRING CANCER SUPPORT FOUNDATION (Charitable Organization Number: 89272 8940 RR0001) ____ % of the rest, residue and remainder of my estate to be used where it is needed most.

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

“I give to WELLSPRING CANCER SUPPORT FOUNDATION (Charitable Organization Number: 89272 8940 RR0001), ___ shares of ABC Co. Inc, to be used where it is needed most.”

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

“I give to WELLSPRING CANCER SUPPORT FOUNDATION (Charitable Organization Number: 89272 8940 RR0001), the sum of $________ to be used in support of (i.e.) Cancer Exercise Program at Wellspring Westerkirk House.”

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 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.”

Wellspring Legacy Giving Society

Wellspring Cancer Support Foundation invites donors who make a legacy gift to become a member of the Wellspring Legacy Giving Society, which recognizes and honours individuals who have made a planned or future gift to support Wellspring.

Consult a Professional Advisor Before Giving

The information provided in this document is general in nature. It is the policy of Wellspring Cancer Support Foundation that our supporters seek independent counsel before making a planned gift.

We would be pleased to meet with you and/your advisors to provide additional information or a sample financial illustration tailored to your needs.