What are the benefits?
Your lasting legacy
A bequest is your lasting legacy, letting others know what was important to you. Donors are also invited to receive recognition today for your future commitment to Wellspring.
Changeable
A bequest is revocable and can be changed if your financial situation changes.
Reduce estate taxes
Your estate will be entitled to a donation receipt for the full value of the bequest, which may dramatically reduce taxes payable by your estate.
Claim donations towards income taxes
Your estate can claim donations for income tax purposes of up to 100% of the net income in the year of death, and any excess amount can be carried back one year.
No capital gains
If the bequest is funded with publicly-listed securities, there will be no capital gains tax payable on the securities donated, under current legislation.
How do I make a bequest?
Making a bequest is simple. If you have already prepared your will, you can update it with a codicil, which is a supplementary document added to the existing will, describing your gift intentions.
If you have not yet prepared a will, we recommend you do so as soon as possible. This is an important first step to ensure your intentions for your estate are documented and your family and loved ones are taken care of, properly.
You may make a specific bequest to Wellspring to identify a defined gift amount, or you may make a residual bequest, which means that you designate all or a percentage of the remaining portion of the estate, after debts, taxes, and administrative expenses have been paid.
It is important that you consult with a lawyer when drafting your will, as well as updating it when your circumstances change.
If you plan to include a bequest in your will for Wellspring, please include:
Our legal name: Wellspring Alberta
Our charitable registration number: 809013675RR0001
Wellspring Alberta
1404 Home Road NW
Calgary, AB T3B 1G7