When you write a
will and include the Church, your “present”
will be a gift that endures far into the future.
Will Power—what you have if you write a will! Power to use the
accumulated fruits of your lifetime to provide for your loved ones as you see
fit, rather than as the government determines. Power to ease the transition of
your passing for those who survive you. Moreover, a will is fully revocable
while you live—you retain control and can easily make revisions should your
circumstances change.
When you include the Diocese of
Where There’s a Will, There’s
If you presently
have a will, you can easily add a codicil providing for a bequest to the Diocese
of Edmonton (or your parish or other ministry). If you do not have a will, this
is the time to prepare one—and you will find that it is neither difficult nor
expensive.
A bequest to the
Church brings a tax benefit, too. At your death, your estate is entitled to a
donation receipt for the full value of your bequest, providing a significant
tax credit on your final tax return. For example, Margaret J, a widow, leaves
$100,000 to the Diocese of Edmonton and the remainder of her estate to her two
children. Assuming a tax credit applies to the entire amount and the combined
tax credit is 50 percent, her bequest results in a tax saving of $50,000 on her
final return.
Furthermore,
it is quite likely that the entire bequest will be creditable because the
donation limit is 100% of income in the year of death, and any unused tax
credit may be carried back to the year immediately preceding death.
Making it Fit Your Needs and Goals
Your bequest may
take any of several forms. Here are some examples, with appropriate wording.
A general bequest is for a certain dollar
amount of property, usually cash: “I give
to the Diocese of
A specific bequest directs that the
Church is to receive a specific piece of property: “I give…500
shares of XYZ stock.…”
A residual bequest designates all or a
portion of whatever remains after all debts, taxes, expenses and other bequests
have been paid: “I give. . . fifty
percent (50%) of the rest, residue and remainder of my estate…”
A contingent bequest takes effect only
under certain conditions: “In the event
that my wife does not survive me, I give to the Diocese of
In addition to
the choice of form, you also have options as to the purpose for which your
bequest will be used. You may make a bequest to the Church may be for its general purposes (as in the first
example above) or you may make a restricted
bequest to be used for a particular programme, ministry or project of the
Church. You may specify that the principal of your bequest is to be held as endowment from which only the income is
expended, or establish a named fund
in your name or as a memorial to a family member, friend or colleague. For any
of these purposes, it is important to confer in advance with a representative
of the diocesan office to ensure that your wishes can be met and that your
bequest provision is properly worded.
Let Us Help You—and Thank You
Whichever of
these forms and purposes you choose for your bequest, the diocesan Planned
Giving Officer is available to assist you. We can send you a helpful booklet on
how to make a will and sample bequest language appropriate to the forms and
purposes described above. At your request, the Planned Giving Officer will be
happy to meet with you and, if you wish, with your legal and financial
advisors, to discuss your goals and refine the wording of your bequest.
When you have
completed your will (or added a provision for the Church to your present will),
we hope you will let us know so we can express our thanks! With your
permission, we will add your name to the growing number of those who have
provided for future gifts to the Diocese of Edmonton, parishes, and other
Anglican–related work, where it will encourage still others to take that
important step.
If you would like
more information, in confidence and without obligation, please complete and
return the Request
for Planned Giving Information form.