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.