Everyone Can Leave a Bequest in Their Will
Cool Aid is working to end homelessness in the Capital Region. Your bequest can make a huge difference in the lives of vulnerable people and our community today, and long into the future. We’d love to hear from you and talk about your legacy gift.
Bequests to Cool Aid, unless you specify otherwise, will be used to:
- Build new apartments for people who are homeless
- Support the Cool Aid Endowment, which pays for critical services every year, forever!
Planning a gift to Cool Aid in your will, or as a beneficiary of a life insurance policy, registered savings plan, annuity, trust or estate, is a powerful and lasting way to help end homelessness in our community. By giving a planned gift, you’ll leave an impact that lasts for years after you’ve gone. Legacy and Planned Gifts can be thought of as deferred gifts, or gifts given in the future. These gifts often stem from a desire to make a significant impact to a cause that you have faithfully supported.
The most common type of planned gift is a bequest made in a will for the Victoria Cool Aid Society (charitable # 12820 5069 RR0001).
Also, naming Victoria Cool Aid Society as beneficiary in your RRSP,RRIF, trust, bank accounts and/or life insurance policy is another wonderful way to leave a legacy.
Please note that the information on this page is no substitute for objective, professional advice, but will provide you with an overview of the ways you can leave a legacy to Cool Aid. We recommend you speak to a trusted financial or legal advisor to determine the best way to structure your legacy gifts and to your family so they understand your last wishes.
Bequest In Your Will
A bequest (gift) to Victoria Cool Aid Society in your will is one of the best ways of leaving a legacy for a better future.
Having an up-to-date will is very important. Unfortunately, a high percentage of Canadians die without making a will. Processing an estate without a will is more costly and time-consuming, and it cannot take into account your personal wishes and priorities, such as a gift to charity or a friend.
A well-constructed will can also maximize the value of your estate.
For example, a charitable bequest can reduce the final tax burden of your estate by as much as 100% of your income in the year of demise and the previous year. Giving a charitable gift of appreciated stocks, for example, provides very good tax benefits allowing you to give more to a charity and your loved ones.
The following examples can be used as language in your will:
- For the residue of your estate once debts, taxes, administrative expenses and specific bequests have been paid: “I give to Victoria Cool Aid Society, currently of 102-749 Pandora Ave., Victoria, BC, V8W 1N9, all (or ______%) of the residue of my estate, to be used at the discretion of the organization.”
- For a percentage of your estate: “I give to Victoria Cool Aid Society, currently of 102-749 Pandora Ave., Victoria, BC, V8W 1N9, ____% of my estate, to be used at the discretion of the organization.”
- For a specific sum of money: “I give to Victoria Cool Aid Society, currently of 102-749 Pandora Ave., Victoria, BC, V8W 1N9, the sum of $______ to be used at the discretion of the organization.”
It helps Cool Aid to understand your intention with any bequest or other significant gift if we talk. To learn more about leaving your legacy with the Victoria Cool Aid Society, please contact:
- Alan Rycroft at arycroft@CoolAid.org or 250-414-4781
- Kathy Stinson at kstinson@CoolAid.org or 250-383-1977