HOW WILL YOU BE REMEMBERED?
Planned giving means creating a lasting legacy that ensures Bowmanville Hospital will be here to support the health care needs of Clarington for Future Generations. It is creating a gift now that the Foundation will receive in the future.
Remembering the Bowmanville Hospital Foundation as part of your estate plan helps build a healthy future for our hospital and community. For more information, please contact the Foundation by calling 905.623.3331 x 21881 or email bhfoundation@lh.ca.
Ways to plan your gift
In Your Will
Bequests are the most common ways of leaving a legacy. You may outline in your Will the gift of a specific dollar amount, a residual amount or a specific percentage. Learn more about the power of a Will, by visiting our page on WillPower.ca.
Life Insurance
Designating the Bowmanville Hospital Foundation as the beneficiary of your life insurance policy can provide a substantial future gift for a relatively low annual cost.
Other Gifts
Gifts of property – e.g. real estate; naming the Foundation as a beneficiary of your RRSP, RRIF or pension; Charitable Remainder Trust; Charitable Gift Annuity.
WHERE TO START?
- Discuss with your loved ones your thoughts on planned giving, including the hospital in your will
- Reach out to your financial advisor or lawyer to discuss what benefits you and your family most
- Include your [Bequest] in your will using the appropriate wording [SAMPLE WORDING]
- Let us know!
If you have decided to remember the Bowmanville Hospital Foundation in your Estate plans, we encourage you to let us know. We appreciate the opportunity to say thank you and recognize your loyalty through the [J.W. Alexander Starlight Society]. If you wish to remain anonymous, we will respect your wishes.
QUESTIONS
By Including a Bequest in my Will, does it then mean that my loved ones will get less?
How Donations in Your Will Can Benefit You and Your Family
Tax Benefits of Charitable Gifts in Wills
Myths in Gifts in Wills
What if I have already made my Will?
Helpful Tips for Updating Your Will
Why should I let the foundation know I have left them in my will? [STARLIGHT]
The Foundation would appreciate the opportunity to thank you for your generosity in leaving a
legacy gift, however we do respect those who choose to remain anonymous.
[BEQUESTS]
There are four kids of Bequests:
A Specific Bequest: is a specified gift such as a set amount of money, a particular piece of property, or a specific asset.
A Residual Bequest: is a percentage or portion of your Estate, after debts and other bequests have been paid. There is a great benefit to the Foundation of Residual Bequests are fixed amounts, your gift may not keep pace with inflation. What you had intended to give at the time
of preparing your Will may be different later. A residual Bequest ensures that your gift is as valuable in the future as it was at the time that you planned it.
A Contingent Bequest: is a gift planned for the Bowmanville Hospital Foundation that is granted in the event that there are no remaining heirs to receive the proceeds of an Estate.
A Bequest Subject to a Trust: is a gift that arises from a Trust you may have established for someone who is receiving income for a life. Upon his or her death, the balance of the assets in the trust are given to the foundation. Two of the most common types of trusts in theirs kind of giving are (a) a Spousal Trust, where one spouse provides for another; and (b) a Charitable
Remainder Trust, for whom other family members or loved ones are provided for until their passing.
[Starlight Society]
“ J.W. Alexander Starlight Society, Your Generosity Will Shine Forever"
In 1913 J.W. Alexander donated the property on which the Bowmanville Hospital sits. He was the first hospital estate contributor to donate property for the original Bowmanville Hospital, inspiring us all to think beyond ourselves. The Starlight Society is our way of showing appreciation to the people in our community who make a Planned Gift to the Bowmanville Hospital Foundation. Planned Giving is a way that you can make a future gift to the foundation that will leave a lasting legacy. Planned Giving Donors will become members of the Starlight Society. “
[SAMPLE WORDING]
“A Sample Will Statement to express your gift to the Foundation could read:
I give and bequeath to the Bowmanville Hospital Foundation Province of Ontario, Canada:
A. The sum of $_____/ the residue of my estate/% portion of my estate;
B. Shares of the capital stock corporation ______________C. The following described property ___________________
To be used at the discretion of the Bowmanville Hospital Foundation
If you wish to make a gift to the Foundation through you will, it is recommended that you seek the assistance of your lawyer to help you draft your will. This will ensure that your wishes will be met. We also encourage you to make the foundation aware of your intent to make a bequest. This is important so that the Foundation can properly recognize your generosity in the manner you wish, and to help it in planning for the future.
