Planned Giving

Creating Your Legacy of Opportunity

It is easy to create your legacy for the Clinton Public Hospital Foundation with Planned Giving.

People often wish that they could impact the future. Charitable giving through an individual’s estate – often referred to as a planned gift – allows a person to achieve their goal of shaping the future.

By creating a gift today for the future benefit of the Clinton Public Hospital Foundation, you can help ensure the financial future of the services and care provided by the Clinton Public Hospital that the Foundation supports. Gifts of this kind will also provide tax savings for your estate.

Making a gift is easy. After you make provisions in your estate for your heirs and loved ones, a charitable planned gift may be the right option for you to create your future legacy for the Clinton Public Hospital Foundation.

Most planned gifts are bequests in a Will and are created by adding a codicil to an existing Will or including a gift in the preparation of a new Will. Often lawyers will include the codicil in a Will without any charge. This is especially true if specific wording is provided.

Other forms of gifts include gifts of life insurance, gifts of securities, and gifts of investment assets. There are other types of gifts that may better fit into your estate plan and philanthropic wishes.

Bequest Gifts

Here is How Your Gift Works

Gifts made by Will are deemed to have been made in the year of an individual’s death. Therefore, a charitable tax credit is received by the estate and can offset any tax owing from deemed dispositions that are also realized in the year of death (i.e. capital gains and/or recapture of depreciation).

This tremendous tax relief is due to the ability to use a charitable tax receipt to offset up to 100% of the individual’s net income in the year of death. Any remainder can be used against the immediately preceding taxation year. The benefits to you and the Clinton Public Hospital Foundation are important.

It is Easy to Make a Gift

This type of gift can help ensure that the maximum amount is passed on to your heirs by offsetting taxes. To create a bequest gift in your Will, simply have your lawyer add a codicil to your existing Will or include a codicil in any new Will being created.

In many cases, your lawyer will not charge you for such an inclusion if your intention and the wording for the codicil are provided to them. Here are some types of bequests and codicil wording.

Types of Bequests

A gift of a specific dollar amount or a gift of an identifiable piece of property, such as land or shares.

A gift of all, or a percentage of, the remainder of your estate after special gifts have been fulfilled and estate taxes and capital gains taxes have been paid.

A gift of all, or a share of, your estate only in the event of the prior death of certain other beneficiaries.

Sample Codicil Wording

“I hereby give to the Clinton Public Hospital Foundation the sum of $ ____ [or % share of my estate] to be used for its general purposes [or designated purposes outlined here].

“I devise and bequeath (all/or ___%) of the remainder of my property to the Clinton Public Hospital Foundation to be used, or disposed of, as its Board of Directors in its sole discretion deems appropriate.”

Bequests enable individuals to make significant gifts that they may not have been able to make while living – gifts that continue to make a difference for many years.

Your bequest to support the Clinton Public Hospital may be directed for general use by the Clinton Public Hospital, or for a special purpose that you may designate. A bequest can be a specific amount of money, a specific asset, or it can be a percentage of the residue of the remainder of your estate to be distributed after specific bequests are paid.

If making a gift, please include our legal name and address:

Clinton Public Hospital Foundation
98 Shipley Street
Clinton, ON N0M 1L0
Charitable Number: 890960685 RR 0001

Remember, when making a bequest, speak to your lawyer about drafting or revising your Will. It is always best to include your trusted advisors and family when you make changes to your estate plan.