Leave a Gift in your Will

What is a Gift in your Will?

You may have already learned about Wills from Nidus by reading our resources about planning for after death (also called estate planning).

A gift in your Will is a meaningful way to support a charity like Nidus. It’s a lasting act of kindness that can make a difference long after you’re gone.

At Nidus, we mainly rely on project funding. We don’t receive ongoing operational funding from government or larger foundations. Instead, we depend on the generosity of our donors and supporters, including those who choose to include a gift to Nidus in their Will.

Here are some ways your gift can be set up:

A specific gift:

You can choose to leave a gift of a set amount of money. For example:

“I direct my executor to pay or transfer $[amount] to Nidus Personal Planning Resource Centre Association, Charitable Registration Number BN 889408332 RR0001 (“Nidus”), to be used for its general charitable purposes;”

This is a simple way to make an impact after your passing. Specific gifts are often given out soon after someone dies.

A residual gift:

You could instead choose to leave a percentage of your estate. For example:

“I direct my executor to pay or transfer [percentage]% of the remainder of my estate to Nidus Personal Planning Resource Centre Association, Charitable Registration Number BN 889408332 RR0001 (“Nidus”), to be used for its general charitable purposes;”

This option means that as your estate grows, your gift grows too, continuing to fuel Nidus’ work for years to come.

A contingent gift:

A contingent gift is given only if certain conditions are met. This gives you peace of mind that your estate will first support the people your care most about. But if those people are no longer living when you pass away, there is a contingency (a Plan B) for where you want that gift to go instead.

You can provide for a specified contingent gift. For example:

“I direct my executor to pay or transfer $[amount] to [my friend, ______], if [he/she/they] is/are living on the 30th day following the date of my death, provided that if [he/she/they] is/are not then living, the said amount shall instead be paid or transferred to Nidus Personal Planning Resource Centre Association, Charitable Registration Number BN 889408332 RR0001 (“Nidus”), to be used for its general charitable purposes;”

Or you can provide for a residual contingent gift. For example:

“I direct my executor to pay or transfer [percentage]% of the remainder of my estate to [my friend, ______], if [he/she/they] is/are living on the 30th day following the date of my death, provided that if [he/she/they] is/are not then living then the share of my estate that [he/she/they] would have received if [he/she/they] had then been living shall instead be paid or transferred to Nidus Personal Planning Resource Centre Association, Charitable Registration Number BN 889408332 RR0001 (“Nidus”), to be used for its general charitable purposes;”

NOTE: this information is general and is not intended to provide you with legal or tax advice. Please consult with your own legal and tax advisors so they may provide you with advice that takes your circumstances into consideration.

How do I leave a gift in my Will?

Leaving a gift in your Will is simple. It doesn’t affect your current finances, but it can make a big difference in the future.

We recommend talking to your lawyer or notary when creating or updating your Will, including if you plan to include a gift to a charity like Nidus. If you have a financial planner, it’s a good idea to include them in the discussion too.

How will leaving a gift in my Will be beneficial?

Here are some of the potential benefits:

Tax Savings: A gift in your Will can lower the taxes your estate owes in the year of your death.

Flexibility: A gift in your Will only takes effect after your death. While you are alive and able, you can change your Will at any time to make sure your gift matches your wishes.