What are the advantages of making a bequest?
- A bequest has no affect on your assets or cash flow during your lifetime.
- Your will can be changed at any time during your lifetime.
- Your will is a statement of your values. Charitable bequests speak to your concern for the organizations whose work you value.
What is the best way to include the Dalhousie Medical Research Foundation in my will?
- Gifts for general research purposes are best. If you wish to support a specific area of research, keep the purpose as broad as possible.
- Your bequest may be permanently endowed, if it exceeds $25,000, and may be named for you or a person who has been influential in your life.
Will my bequest generate a tax credit?
- Yes, we will issue a charitable tax receipt when your bequest is received. The resulting tax credit will help offset income taxes owing on your final return. Your executor may claim credits up to 100 per cent of your net income on your final two tax returns.
What if I already have a will?
- Your lawyer can prepare a simple statement, called a ‘codicil,’ to add your bequest to your existing will.
Can I leave non-cash assets to the Foundation?
- DMRF can accept most types of property, such as real estate or securities. Keep in mind that, in most cases, the property will be sold and the proceeds used to support medical research. With the exception of securities, your bequest will generally provide the greatest benefit to medical research if you instruct your executor to sell the property and contribute the proceeds.
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