Charitable Will Bequest  

Many Canadians support charitable organizations through future gifts from their estates.  A Charitable Will Bequest is a direction in your Will that instructs your Executor(s)/Trustee(s) to leave one or more of your assets to a charitable organization(s).  A charitable Will bequest is a way to support National Aboriginal Achievement Foundation while helping you achieve significant tax savings for your estate.  A charitable Will bequest is a meaningful way to reduce your taxes, increase inheritances to your loved ones and make a difference.  

Charitable Bequest – The Benefits to You

• Convenient – A charitable Will bequest can be made no matter how old you are and can be for any amount you want.
• Simple – A charitable Will bequest is easy to arrange.  Simply instruct your lawyer to include a bequest to National Aboriginal Achievement Foundation in your Will.  
• Cost-effective – There are no extra out-of-pocket costs. Your present income will not decrease.
• Tax Relief – A charitable Will bequest is a highly effective way to reduce estate taxes. 
• Tax Planning – National Aboriginal Achievement Foundation will issue a charitable tax receipt for the full value of your bequest.  This receipt will be used to reduce the tax payable on your final tax return.  If your bequest exceeds 100% of your net income, the excess may be carried back to the previous tax year.
• Flexible – Your bequest can be for a specific amount, a percentage of your estate, or the residue of your estate – that is a gift after your debts have been paid and other bequests made.  
• Control – You retain use of the charitable gift asset for the duration of your lifetime.
• Peace of Mind – You can make changes to your Will at any time.
• Satisfaction – Planned gifts are made for personal reasons in addition to ensuring that National Aboriginal Achievement Foundation continues its commitment to providing scholarships and bursaries to First Nations, Métis and Inuit students.  As well, your bequest can create a lasting memorial for you, your family or anyone you may wish to honour.

For the greatest flexibility in meeting urgent needs, National Aboriginal Achievement Foundation prefers bequests to be unrestricted. However, if you wish to designate your gift, we are happy to discuss that option with you.  To enable us to use designated bequest funds as intended yet accommodate the unforeseen, please see our sample bequest language document.

Please Seek Expert Advice: National Aboriginal Achievement Foundation strongly recommends that you seek professional advice to ensure your financial goals are considered, your tax situation reviewed, and that your planned gift is tailored to your circumstances. National Aboriginal Achievement Foundation recommends that you consult your lawyer or estate planner regarding the specific wording of any charitable Will bequest.  

Request a free Will Planning Guide to assist you with your estate planning.

For further information, please call Paul Klein, Senior Development Officer, Individual Giving and Donor Relations at 1-800-329-9780 extension 227 or email Paul at pklein@naaf.ca.

Charitable Will Bequest  

Sample Charitable Bequest Language  

These are sample clauses only. Your lawyer or estate planner should review any wording.

Specific, unrestricted:

I give, devise and bequeath to National Aboriginal Achievement Foundation the sum of $_______________ to be used for any purpose(s) approved by the Board of Directors of National Aboriginal Achievement Foundation.  

Specific, restricted with escape clause:

I give, devise and bequeath to National Aboriginal Achievement Foundation the sum of $____________ to be used for the following purpose(s) ___________________________________________.     If National Aboriginal Achievement Foundation is unable to apply all or part of these funds for the specific purpose(s) stated herein, the balance of this bequest not so extended may be used for any purpose approved by the Board of Directors of National Aboriginal Achievement Foundation.  

General % unrestricted:

I give, devise and bequeath to National Aboriginal Achievement Foundation ____% of the residue of my estate to be used for any purpose(s) approved by the Board of Directors of National Aboriginal Achievement Foundation. 

General %, restricted with escape clause:

I give, devise and bequeath to National Aboriginal Achievement Foundation, ____% of my estate to be used for the following purpose(s) ___________________________.    If National Aboriginal Achievement Foundation is unable to apply all or part of these funds for the specific purpose(s) stated herein, the balance of this bequest not so extended may be used for any purpose(s) approved by the Board of Directors of National Aboriginal Achievement Foundation.   

Residual contingent trust:

Upon the death of the survivor of my (wife, husband, etc.) ________________________ and my (son, daughter, etc.) _________________________, I direct my trustee to transfer and deliver the balance of the residue of my Estate, including any undistributed income to National Aboriginal Achievement Foundation to be used for any purpose(s) approved by the Board of Directors of National Aboriginal Achievement Foundation.