A bequest is a gesture of confidence and hope for the thousands of families of tomorrow who will be cared for at the CHU Sainte-Justine.
Following are the main types of charitable bequests.
Specific Bequest
The specific bequest is a simple way to make a gift, by which you may leave a sum of money, an RRSP, an RRIF, securities, or any other asset to the Foundation. Here is a sample clause:
"I give and bequeath to the CHU Sainte-Justine Foundation the sum of $X to benefit the work undertaken by that organization."
To counter the effects of inflation and preserve the value of your gift, you can also choose to index the amount given:
"I give and bequeath to the CHU Sainte-Justine Foundation the sum of $X. With immediate effect, the aforementioned amount is to be indexed annually according to the consumer price index until the date of my death."
Universal Bequest
The universal bequest is generally chosen by donors without children of their own, who decide to leave the entirety of their assets to the Foundation. Here is a sample clause:
"I give and bequeath to the CHU Sainte-Justine Foundation all my movable and immovable assets, to benefit the work undertaken by that organization."
Universal Title Bequest
The universal bequest allows you to predetermine how the proceeds of your estate will be shared by your heirs and the Foundation by allocating a portion to each. If you wish to ensure that your loved ones receive a large proportion of your assets while still making a gift to the Foundation, this may be the ideal option for you. It has the advantage of taking into account your estate’s appreciation value over time. Here is a sample clause:
"I give and bequeath X% (for example, 90% or 75%) of my movable and immovable assets to my children (brothers, sisters, nephews, nieces, friends, etc.). I further give and bequeath X% (for example, 10% or 25%) of my movable and immovable assets to the CHU Sainte-Justine Foundation, to benefit the work undertaken by that organization."
Residual Bequest
A common variation on the universal bequest or universal title bequest is the residual bequest. You can bequeath to the Foundation the remainder of your assets after the payment of specific bequests to your loved ones. This formula is often used by donors without children who would like to leave the majority of their estate to the Foundation, while also providing for other loved ones or friends. Here is a sample clause:
"I give and bequeath the sum of $X to my nephew (niece, brother, sister, friend, etc.). I further give and bequeath the remainder of all my movable and immovable assets to the CHU Sainte-Justine Foundation, to benefit the work undertaken by that organization."
