Your will is an important part of your estate planning. But it can be much more than this. Your will is an opportunity to make an impact for good on the world. You can help us make a difference to your family and to your community. Consider carefully those things which are important to you, and make sure you have a will.
GETTING STARTED
Getting started is perhaps the most difficult part about making your will, so make use of all the professional services available to you. First, gather the facts concerning what you own. Property, life insurance, business ventures, personal items - all of these need to be taken into consideration. Second, think about what you would like to do with these things when you are no longer there to use them. Children, other family members, friends who will have ongoing support needs, your church and favourite charities also deserve consideration. Therefore, a will makes good sense. Without a will, your wishes will not be fulfilled.
THE WILL
The laws relating to one’s estate are not simple, therefore the cost of professional assistance in these matters is usually money well spent. Remember to keep your will flexible. Use percentages rather than fixed amounts so that changes in your finances will not force a complete revision. Remember to choose a residual beneficiary. You may have thought of everything, but this ensures you have done so. Finally, choose your personal representative with care, someone you trust, someone who is able to handle the job and who is close enough to do it. Consider using professionals. Even though it may cost a little more, you know that your affairs are in good hands, and the possibility of family conflicts are minimized.
YOUR GIFT AND TAXES
It may interest you to know that your gift to The Salvation Army qualifies for income tax credits, which help make the gift less expensive to give. If taxes are a serious issue for you, then talk to your advisor about how you can take advantage of the generous treatment given to your estate through gifts to The Salvation Army.
HOW TO MAKE A GIFT TO THE SALVATION ARMY
To leave a gift to The Salvation Army, ask your lawyer to include one of the following statements:
“I give, devise and bequeath to The Governing Council of The Salvation Army in Canada
the sum of $________, (or) my property known as________, (or) ________% of the residue of my estate, (or) the residue of my estate, for its sole use and purposes.”
Should you wish to designate your gift to benefit a specific program or social service or church ministry, then add
“lt is my preference that this gift be used for ________.”
Remember, there is far more to making a will than is outlined here. Your own legal advisor will be happy to help you, but if you would like to talk with us further about your will, or obtain more information on gift planning, contact us by phone at 1-800-725-2769 or by e-mail at donor_questions@salvationarmy.org . We will send you the information you need or arrange for a qualified representative to contact you.
