FAQ

Frequently asked questions

How do I go about leaving a gift in my will?

The two most frequently used methods of making a gift in your will are specific bequests and residual bequests.

A specific bequest gives a definite amount of money to the named beneficiary; and a residual bequest gives the remaining amount, or a percentage of the remaining amount, after all of your specific bequests have been honoured.

Your lawyer or financial advisor can help you decide which option is best for you and your loved ones – here is a list of sample will clauses for you or your lawyer to consider.

What are the financial advantages of leaving a bequest gift?

A carefully constructed will can help you avoid excessive taxes. When you make a charitable donation through your will, the tax credit can be claimed up to 100% of net income in the year of death, significantly reducing the tax paid by your estate.

How can I make a bequest gift to a charity if I already have an existing will?

Even if you already have an existing will, your lawyer can easily amend your will by making an addition called a codicil. Be sure to review your will on a regular basis to ensure that it is up-to-date.

What is the legal name of Nova Vita?

Our full legal name is Nova Vita Women’s Shelter Incorporated. Any legal document used to make a planned gift must include the full legal name of the charity. Nova Vita is a registered Canadian charity – our Charitable Organization Number is 107771727RR0001.

Remember – a will is a legal document. We strongly encourage you to seek legal estate planning advice from a qualified lawyer if you are making a will or changing your will. We’d be pleased to confer with you and your lawyer to help draft specific bequest clauses. All calls will be kept confidential.