Answers to Common Questions
Still have questions about making a gift in your will to CARE Canada? You’re not alone. Below are the answers to some of the most commonly asked questions we receive about charitable bequests.
What is a will? A will is a legal document that outlines your requests and preferences in distributing your money, property and possessions upon your death.
Who can leave a gift in their will to charity? Anyone who wishes to do so! It doesn’t matter your age, assets or wealth. And you might be surprised to learn just how much you can give in this way while still taking care of your loved ones. For many people, a gift in their will includes assets like property or investments – things that you can’t typically use when making a regular gift to charity.
What types of gifts in wills are most common? A gift in your will can be made in several ways, and we encourage you to speak with your lawyer to choose the type of gift that is right for you. The two most common types of gifts are residual and fixed.
A residual bequest is made from a percentage of everything you own, less any debts. If you know you want to leave a gift in your will to charities close to your heart, but don’t necessarily know what your future finances may look like, this option may work for you.
A fixed bequest involves making a gift of a specific dollar amount in your will.
Why is a gift in my will so meaningful? This type of giving has the potential to impact not just one person, but a whole community. It’s a wonderful opportunity to shape the future of the world by fighting hunger, poverty and inequality. Your gift will encourage and teach the next generation of women to be leaders, and lift their communities out of poverty and despair. Your legacy will bring people together, and promote equality for everyone.
How will my gift to CARE Canada be used? Your gift will be used to directly improve the lives of women, girls and their families living through poverty, hunger and disaster. You’ll empower women and girls worldwide through education and training, and give them the tools they need to better their communities.
Can I leave a gift in my will and still provide for my family? Yes! We completely understand that this may be one of the most important considerations for you in drafting your will. There are many ways to do this.
Some people divide their estate into percentages, much like you would cut up a pie, leaving a portion to each of their children, grandchildren, loved ones and another to CARE. You may want to talk to your professional advisors regarding your estate plan. A gift in your will can provide relief from, and in some cases eliminate entirely, taxes on your estate.
Do I need to re-do my entire will to include my gift to CARE? No! Even if your will has already been written, you can include CARE Canada using a special legal clause called a codicil. We have sample codicil language available here that you and your legal professional may find useful. You can also choose to add CARE to your will next time you update it.
Isn’t it more important to donate now rather than later? Both are important, and CARE Canada is grateful for all donors who are using their support to empower women and strengthen communities worldwide. But a gift in your will is an extraordinary way to leave a legacy that will last for years to benefit future generations.
Should I tell you about my decision? We understand that choosing to make a gift in your will is a very personal decision, and you certainly don’t have to talk to us about it. However, if you do let us know that you’ve included CARE Canada in your will, we’re able to consider this gift in future planning. And of course, it allows us the chance to speak to you directly about your motivations for giving, so that we can do right by your extraordinary gift. Please contact us at 1.800.267.5232, or enter your details below if you’d like to inform us of your gift.