PLANNED GIVING

Professional Advisors' Resources

There are many ways to word a charitable gift in a Will. Here is some suggested language we hope might help you describe a testamentary gift to our Museum.

These clauses may need to be adapted to reflect your client's specific interests and circumstances.

Sample clauses for wills:

1. A gift in a will may be specified as a fixed amount, or the residue (or portion) of the estate.

• a) Your gift of a fixed dollar amount (legacy):
  
  “I give the sum of ______ Dollars ($ ____) to Canadian Warplane Heritage, Mount Hope, Ontario to be used for such charitable purposes as the Museum may determine from time to time.”
  
  
• b) Your gift of the remainder (residue) of your Estate:
  
  ´I give the residue of my estate to Canadian Warplane Heritage, Mount Hope, Ontario, to be used for such charitable purposes as the Museum may determine from time to time”.

2. The gift may be directed in any one of a variety of ways:

• a) General charitable purposes:
  
  You may provide maximum flexibility for the benefit of Canadian Warplane Heritage – see examples 1 (a) and 1 (b) above
  
  
• b) Specific charitable purposes:
  
  You may specify the endowment fund, whereby the Museum will be the beneficiary of the income every year:
  
  “I give the sum of _____ Dollars ($___) to Canadian Warplane Heritage, Mount Hope, Ontario. The said amount to be treated as capital and invested in the endowment fund, and the net income therefrom to be paid to Canadian Warplane Heritage”.
  
  OR – if the gift is to be the residue of your estate
  
  “I give the residue of my estate to Canadian Warplane Heritage, Mount Hope, Ontario, which shall be treated as capital and invested in the endowment fund, and the net income therefrom to be paid to Canadian Warplane Heritage”.

3. Your gift may be deferred until the death of a named survivor (spouse, or other dependent) Add these words to the beginning of the clause:

“Upon the death of the survivor of _____ and me, I give…”

When a donor makes an “outright gift” of cash or property to Canadian Warplane Heritage, every dollar goes to work the moment it is given, providing vital current support to ongoing programs. An outright gift gives a donor the satisfaction of seeing their gift at work and knowing Canada’s aviation heritage is being kept alive for generations to come.

Acceptable Assets:

• Cash
• Cheques or Money Orders
• Payments on Credit Card
• Publicly Listed Securities (including segregated and mutual fund units)

Benefits to the Canadian Warplane Heritage:

• Available for immediate use
• Highly liquid
• Easy to administer
• Limited to no risk

Benefits to the Donor:

• Donation receipt for the full amount of gift
• Straightforward, easy-to-understand transactions
• Significant tax benefits depending on assets gifted
• Satisfaction of seeing the gift at work immediately

Most Appropriate for:

• Everyone (any age) who can afford to give up some principal and the interest it would otherwise earn.
  

For more information on the above, please contact Pamela Rickards, CWH Deputy Director at (905) 679-4183 ext 230 or e-mail: pam@warplane.com

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