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.
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.