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Bequest - A future gift

A bequest is a gift made by will. By directing a portion of your estate (generally a specified amount or percentage of the residue) to the Halton Trauma Centre, you can significantly reduce the taxes payable upon death. A bequest comes into affect upon death and a donor retains the flexibility to alter the gift throughout his or her lifetime. The tax and other implications vary and should be carefully reviewed in order to determine the best approach.

For information and assistance in arranging your donation by bequest, please contact our events coordinator at 905-825-3242 or

Tax Advantages

For income tax purposes, a gift by will is treated as having been made by the deceased in the taxation year ending on the date of the death. A donation receipt is issued for the fair market value of the gift, which may be claimed the year of death or the preceding year. The donation claim limit is 100% of net income in each of those years. If a bequest of appreciated securities is made, the tax incentive currently available for qualifying gifts of appreciated securities may apply.

Beneficiary designation

A contribution of the death benefit under a life insurance policy, or the proceeds of an RRSP or RRIF effected by way of beneficiary designation, now entitles the donor to a tax receipt, which can be used to offset taxes in the return for the deceased's final year and preceding year. This very favourable change to the tax incentives for charitable giving was introduced in 2001 and is effective for deaths occurring after 1998.

How to donate

In gifting by bequest, include wording in your will as suggested below and consider providing the Halton Trauma Centre with a copy of this clause or your will. This will be particularly helpful for the Halton Trauma Centre to receipt the estate at the appropriate time.

General bequest

A general bequest directs that the Halton Trauma Centre receive a specific amount of a certain type of personal property, usually a sum of cash. With the new tax incentive for gifts of appreciated securities, bequests may be more broadly worded to allow executors the flexibility to determine the best way to make a gift.

Example of wording for the will: "I direct my Executor to transfer to the Halton Trauma Center the sum of $100 000 to be used for the general purposes of the Centre."

Specific bequest

A specific bequest directs that the Centre receive a specific piece of property.

Example of wording for the will: "I direct my Executor to transfer to the Halton Trauma Center whatever shares of XYZ Company that I may own at the time of my death to be used for the general purposes of the Centre."

Residual Bequest

A residual bequest designates all or a portion of whatever remains in the estate after all debts, taxes, expenses and other bequests have been paid.