Frequently asked questions – Legacy giving
We’re here to answer some of the most common questions about leaving a gift in your will.
If you’re thinking about leaving a gift in your will to the Alberta Cancer Foundation, we know that you will probably have some questions. We have shared some of the most commonly asked questions, but we know that every gift is as unique as the individual giving it. If you can’t find the answer to your question or would like to speak with us directly, please reach out, as we would be pleased to speak with you.
Often, donors who leave a legacy to charity in their estate are modest donors in their lifetime – but they’ll make gifts of a lifetime in their wills. Nearly 1.5 million Canadians have left a gift to charity in their will. It’s a final opportunity to make a lasting gift to a cause you care about.
A gift to charity in your will is a chance to honour loved ones, promise progress for the future and make a meaningful impact in a way nothing else can. It’s also an opportunity to leave a legacy to the causes that you care about, with assets you cherished in your lifetime.
With tax savings in Canada by giving to charity, you absolutely can do both. One way to think about this is to divide up your estate into percentages. For a moment, think of your will like a pie. You can choose to leave a slice to each of your children, another to your grandchildren and another to a cause you care deeply about. We encourage you to discuss your personal situation with a financial advisor who understands charitable giving and can show you how you can support your favorite charity while still providing for your family.
You can include the Alberta Cancer Foundation in your will, even if it’s already been written. A codicil can be used to update your will at any time; it’s like adding one more item to your grocery list.
By leaving a gift in your will, you’re essentially doing both! Many of our donors are on fixed incomes, but they know they will be left with some assets or funds in the bank that they will no longer use once they’ve passed. When they leave a gift in their will, they know they’re planning today for a gift that will be used tomorrow.
You’re not obliged to share that you’ve left a gift in your will with us. If you do choose to communicate that you’ve included the Alberta Cancer Foundation in your will, it gives us the opportunity to thank you personally for such a beautiful gift and to welcome you to our Tree of Life Legacy Society. We can also keep you informed of the incredible progress donors are making possible, so you feel even more connected to the progress that we’re making in our province together!
If you include the Alberta Cancer Foundation in your will, your lawyer or financial advisor may ask you for the following information:
Legal Name: Alberta Cancer Foundation
Charitable Registration Number: 11878 0477 RR0001
Address: Alberta Cancer Foundation Provincial Office: 710-10123 99 Street, Edmonton, AB T5J 3H1
Most people opt to make one of two types of gifts: residual or specific. A residual gift allows you to give a share or a percentage of whatever is leftover in your estate to charity. You may prefer this option if you’re unsure of the total size of your estate or you’re interested in dividing up your total assets among a few beneficiaries.
Sample wording for a residual gift: “I direct my Trustee to pay and transfer a ____ % share of the rest and residue of my estate to the Alberta Cancer Foundation (charitable registration # 11878 0477 RR0001).”
With a specific gift, you set a dollar amount to donate. You may prefer this option if you know the impact you want to make and the size of the gift that works for you.
Sample wording for specific gift: “I direct my trustee to pay the sum of $_________ dollars to the Alberta Cancer Foundation (charitable registration # 11878 0477 RR0001).”
If you would like to put your gift toward a specific area, we encourage you to contact us to discuss. This is also a great time to meet with a financial advisor who understands charitable giving and can help you plan your estate to meet the goals you envision.
Your contact for legacy giving
Every person who leaves a gift in their will wants to make an impact, and it’s my honour to see those intentions through.
It’s exciting when I get the chance to see donor impact in action, like the breakthroughs in immunotherapy taking place in Alberta right now. If a gift in your will feels like it might be the right choice for you, or if you’d just like more information, please reach out anytime.