Leave a Gift in Your Will
Why Leave a Gift in Your Will?
There are many reasons people choose to include a charitable gift in their Will.
For some, it offers a meaningful way to make a future impact while preserving the financial resources they need today. Even a small percentage of an estate can create significant support for the causes and organizations that matter most.
Changing demographics are also shaping charitable giving. Over the coming years, Canadians are expected to transfer significant wealth from one generation to the next. For many families, this creates an opportunity to provide for loved ones while also including a charitable gift in their estate plans.
Canadians are also becoming more thoughtful about how they use assets such as Wills, RRSPs, and other investments. With careful planning, these assets care provide for family, create potential tax benefits and support charitable priorities well into the future.
“I know when Iām gone my gift will have an impact on the healthcare services in my community, leaving a lasting legacy.”
Your Gift Can Shape the Future of Local Healthcare
A gift in your Will can be a meaningful way to support the future of healthcare at North Bay Regional Health Centre while giving you flexibility in how you plan for your family and estate.
Create meaningful legacy in your community.
A future gift can give your loved ones a lasting connection to the values that matter to you. Your support could help fund equipment, technology or programs that patients and families will rely on for years to come, creating a lasting connection between your family and the future of local healthcare.
Make a larger impact on your local hospital.
A gift in your Will can allow you to make a significant future contribution to NBRHC without affecting the financial resources you need today.
Your estate may include property, registered funds, investments, savings, life insurance and other assets. Even a small percentage can create meaningful support for your local hospital. A future gift could help purchase essential medical equipment, introduce new technology or strengthen programs that help patients receive care close to home.
Continue the impact you have already made.
If you have supported NBRHC Foundation during your lifetime, a gift in your Will can extend that commitment into the future. Your generosity can help ensure healthcare teams at NBRHC continue to have the tools and resources they need to diagnose, treat and care for patients across our region.
Consider potential tax benefits.
A gift in your Will can also be part of thoughtful estate planning. In Canada, eligible charitable donations can generate tax credits that may help offset taxes owing by an estate.
There are several ways to structure a future gift to NBRHC Foundation, including naming the Foundation as a beneficiary of an RRSP or other registered asset. Because every estate is different, a lawyer, accountant or financial advisor can help determine which approach best reflects your wishes, provides for your family and supports the future of healthcare at NBRHC.
Frequently Asked Questions about Gifts in Wills
How can I include NBRHC Foundation in my Will?
Including a gift to NBRHC Foundation in your Will can be a simple process. A few thoughtful steps can help ensure your wishes are clear and your future gift supports local healthcare in the way you intend.
1. Decide how you would like to support your local hospital.
Consider the charities or causes that matter most to you. If you are thinking about including NBRHC Foundation in your Will, we would be pleased to speak with you about your options and how your future gift could support care at North Bay Regional Health Centre.
You can contact Kate at Kate.Merritt-Dupelle@nbrhc.on.ca or 705-474-8600 ext. 3254. There is no commitment required, and you can choose whether you would like to receive any future communications.
2. Gather the correct legal information.
Our legal name is North Bay Regional Health Centre Foundation and our charitable registration number is 88773 1123 RR0001.
3. Consider the size of your estate and how you would like it distributed.
You may wish to estimate the value of your estate and consider what portion you would like to leave to family, loved ones and charitable organizations.
The Will Power Legacy Calculator can help you explore different options.
4. Work with a qualified professional.
A lawyer, notary where applicable, or trusted online Will platform can help you prepare or update your legal documents. Will Power also offers a directory of professionals who can assist with estate and charitable giving planning.
5. Share your plans with the people involved.
Consider letting your executor and family know about your wishes so they understand your intentions and can help ensure they are carried out.
What information does my lawyer need?
Some helpful information for speaking to your lawyer:
- Our legal name is North Bay Regional Health Centre Foundation
- Our charitable registration number is 88773 1123 RR0001
- Our address is 50 College Dr., PO Box 2500, North Bay, ON P1B 5A4
Can I choose which area of the hospital my gift supports?
You can support a specific department or area of care at the Health Centre that is meaningful to you, or support a particular fund, such as the education endowment.
Are there tax benefits to a charitable gift in my Will?
A charitable gift in your Will can also offer tax benefits for your estate. In Canada, eligible charitable donations generate tax credits that may help reduce taxes owing after your death.
Depending on how your gift is structured, this can help preserve more of your estate for the people and causes that matter to you. A lawyer, accountant or financial advisor can help you understand the options available and determine what makes the most sense for your estate.
What about my family? I want to leave everything to them.
You can provide for your loved ones and still include a gift to NBRHC Foundation in your Will.
One way to approach this is by thinking in percentages. Even a small portion of your estate can create meaningful support for local healthcare, while the majority remains for your family and loved ones. A charitable gift may also provide tax benefits for your estate.
Do I have to be wealthy to leave a gift in my Will? I don't have a lot to give.
You may have more options than you realize. Assets such as RRSPs, life insurance policies, investments and other savings can all form part of your estate and may offer opportunities for charitable giving.
Gifts in Wills are also within reach for many people. You do not need a large estate to make a meaningful difference. Even a modest future gift to NBRHC Foundation can help provide equipment, technology and resources that support exceptional healthcare close to home.
What if I change my mind?
Your plans can change over time, and your Will can change with them. You can update your Will as your family, finances and priorities evolve.
There are also ways to make a future gift to NBRHC Foundation outside of your Will. For example, you may be able to name the Foundation as a beneficiary of an RRSP or life insurance policy and update that designation if your circumstances change.
Am I too young to be thinking about this?
If you have assets or people you care about, it can be worthwhile to think about how you would like them looked after in the future.
A Will is also an opportunity to reflect the values that matter to you. Including a future gift to NBRHC Foundation can be one way to support local healthcare and extend your impact in the community for years to come.
Our commitment to you
NBRHC Foundation appreciates your commitment to the future healthcare needs of our community. We respect your privacy and the decisions you make while creating your Will. Please see our gift in Wills guide for important information for your lawyer or accountant.
Thank you for investing in your community’s healthcare.
If you’re thinking about making a donation in your Will, thank you.
For more information on including a gift in your Will, contact
Kate Merritt-Dupelle at 705-495-8125 ex. 3254 or email
kate.merritt-dupelle@nbrhc.on.ca.
Already included NBRHC Foundation in your Will? Please let us know so we can thank you.
You won’t be held to any commitment or sent any additional communications if you wish.
North Bay Regional Health Centre Foundation is a partner in Will Power, a national awareness campaign that encourages Canadians to use their Wills as a force for good. Together with Will Power, we want connect people like you with resources to make the best decisions for their family, their future finances, and the causes that matter to them.