Peace Arch Hospital Foundation Projects: Bequest of Cash or Estate Percentage

Bequest of Cash or Estate Percentage

Create a legacy that will support the hospital by leaving a gift to the Foundation in your will. This is a simple, heartfelt gesture to show your gratitude by supporting a specific department, or an area of greatest need. 

The most common ways to leave a gift to the Foundation in your will are by:

  • Legacy Gift: A Cash gift of a specific amount.
  • Residual Gift: A gift of all, or a portion (often in the form of a percentage) of the estate’s residue, being what is left of your estate after all gifts, debts, expenses and taxes are paid. The Foundation can also be a contingent beneficiary of the estate’s residue in the event your intended beneficiaries are not alive on the date of your death. 

Your estate will receive a charitable tax receipt for the value of the gift which can be used to offset up to 100% of your net income on your terminal tax return. Additionally, any unused tax credit may be carried back to reduce taxes paid in the year prior to death. 

Next Steps

  1. Speak with your lawyer to have a will prepared, or your existing will revised to include the gift you would like to make to the Foundation. 

    Please see below for Sample Wording of Will Clauses. 

  2. Provide your lawyer with the following information for inclusion in your will: 

    LEGAL NAME: Peace Arch Hospital and Community Health Foundation

    Address: 15521 Russell Avenue, White Rock, BC V4B 2R4

    Charitable Registration #: 12731 1348 RR0001

  3. Let the Foundation know about your gift to ensure your intention for the gift’s use is understood.  To speak with someone on our team, please call 604.535.4520 or send an email to Selina Lai

Sample Wording of Will Clauses to use when Leaving a Gift in your Will: 

Legacy Gift

To gift $_____, without interest, to Peace Arch Hospital and Community Health Foundation (“the Foundation”) presently of 15521 Russell Avenue, White Rock, BC V4B 2R4, charitable registration number: 12731 1348 RR0001, it being my hope that the Foundation will use this gift in the area of greatest need. 

Legacy Gift with Specific Use

To gift $_____, without interest, to Peace Arch Hospital and Community Health Foundation (“the Foundation”) presently of 15521 Russell Avenue, White Rock, BC V4B 2R4, charitable registration number: 12731 1348 RR0001, it being my hope that the Foundation will use this gift for ______. If unforeseen circumstances make the specified use of this gift no longer practical or advisable, as determined by the Foundation’s Board of Directors, the Foundation’s Board of Directors may, in their absolute discretion, use the gift to the best advantage of the Foundation, keeping in mind the original spirit and intent of the gift. 

Residue Gift 

To give the residue of my estate to Peace Arch Hospital and Community Health Foundation (“the Foundation”) presently at 15521 Russell Avenue, White Rock, BC V4A 2R4, charitable registration number: 12731 1348 RR0001, it being my hope that the Foundation will use this gift in the area of greatest need.

 

LEGAL NAME: Peace Arch Hospital and Community Health Foundation

Address: 15521 Russell Avenue, White Rock, BC V4B 2R4

Charitable Registration #: 12731 1348 RR0001

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"For some, a gift in their will is a way to ensure their memory lives on and inspires others; for many, it's a way to ensure that quality healthcare is available and accessible in our community for many years to come."
Amy O'Leary, Associate Director of Philanthropy
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