Here are two simple ways that you can put a charitable gift in your Will.
- You can name the residue of your Estate in whole or as a proportion using percentages. The residue is what remains after taxes, administrative expenses and your heirs have received their specific gifts or proportion. An advantage is that as your circumstances change, your Will does not have to be altered, as the proportion remains the same.
Sample wording: “I bequeath the residue of my Estate (or _______% of the residue of my Estate) to The Canadian Red Cross Society.”
- Another way is to name a specific amount.
Sample wording: “I give $_____________to support the work of The Canadian Red Cross Society.”
A word about specific designations:
If you wish to designate to a specific Red Cross program, we recommend the following wording in order to ensure your legacy is realised, should that program no longer be in existence at the time the bequest is realized:
“If through the passage of time, a designated Red Cross program is no longer in place, I give permission to alter the terms of my Will to adhere as closely as possible to my original wishes; or in the event that this is not possible, please direct my gift to the area of greatest need.”
The Canadian Red Cross recommends that you consult a legal advisor when planning your Will.