Leave the World with Water
When you leave a gift to WaterAid Canada in your Will, you are leaving a wonderful testament of your commitment to transforming the lives of the poorest and most marginalized people by improving access to these essentials. You will help ensure we can continue to carry out our important work in the future.
Our promise to you
We understand that making a decision about your Will is a private and personal matter, made after careful consideration. Ensuring your loved ones are provided for when you are no longer here should be your primary consideration. But it can also be a special way of remembering an organization you care about – an organization whose mission has been important in your life.
If you’re considering leaving a gift in your Will to WaterAid Canada, we make this promise to you:
- We will not put you under any pressure and will respect that this is a decision you want to make in your own time.
- You can change your mind about leaving a gift to WaterAid Canada at any time.
- We’ll never ask you to declare your intentions (although we’re always delighted to hear from you, so we can say thank you).
- We’ll answer any questions you have, and we’ll keep you up-to-date with our work in the way that suits you best.
- Any gifts you leave will be handled sensitively and respectfully.
- We’ll spend your gift carefully, so it achieves the greatest possible impact in the communities where we work. You can be assured WaterAid Canada will meet the highest standards for charities as designated by Imagine Canada.
How to include a gift in your Will - your questions answered
If you already have a Will and would like to make changes, you do not need to make a new will. Instead you can add a codicil to your Will with the help of your lawyer or own your own. A codicil is a document which allows you to make changes or additions to an existing Will and must be read in conjunction with it. The formalities of Wills must be followed for codicils as well, so it is best to discuss a codicil with your lawyer to ensure it is done properly.
If you decide to leave a gift to WaterAid Canada, it's really straightforward to include this in your Will. All you have to do is give your lawyer our full legal name, registered address and charity number and your lawyer will do the rest.
Legal Name: WaterAid Canada
Address: WaterAid Canada, 321 Chapel Street, Ottawa, Ontario, K1N 7Z2
Registered Charity Number: 119288934 RR0001
If you prefer, you can take the following wording to your lawyer. They will make sure your Will is valid and that your wishes are followed.
Leaving a Bequest:
A bequest is a gift through your Will that is made from your estate after your death. Upon receiving a gift from the executor of your estate, WaterAid Canada will issue a charitable tax receipt for the value of the bequest to your estate. This receipt will result in a tax credit of up to 100 percent of your taxable income in the year of death and the preceding year. Common formats of bequests, and suggested wording to use in your Will include:
- Specific Bequest: WaterAid Canada receives a gift of a specific amount.
“I give the sum of $_________ (dollars) to WaterAid Canada, currently located at 321 Chapel Street, Ottawa, Ontario (Charitable Registration Number 119288934 RR0001).”
- Residual Bequest: This is a gift of all or a percentage of whatever remains in your estate (the “residue”) after all taxes, liabilities, administrative expenses and specific bequests have been paid. The advantage of this type of bequest is that, as your estate increases or decreases in value over time, your donation remains proportionate.
“I give the residue of my estate [or ____% of the residue] to WaterAid Canada, currently located at 321 Chapel Street, Ottawa, Ontario (Charitable Registration Number 119288934 RR0001).”
- Contingent Bequest: This type of bequest only takes effect if your primary intention cannot be met. For example, the gift is directed to WaterAid Canada if other beneficiaries do not survive you.
“If [name of beneficiary] does not survive me, I give the residue of my estate [or ____% of the residue] [or $________] to WaterAid Canada, currently located at 321 Chapel Street, Ottawa, Ontario (Charitable Registration Number 119288934 RR0001).”
Most gifts left to WaterAid Canada through donor Wills are “unrestricted” meaning that they can be used for the priority projects of WaterAid Canada at the time the gift is received as determined by the Board of Directors.
A “restricted” gift allows you to direct the donation towards a specific purpose at WaterAid Canada. We would welcome the opportunity to discuss your wishes regarding a restricted gift to ensure that we are able to carry them out when the bequest is received.
We understand that circumstances can change. You can change the content of your Will at any time. We will never ask you to tell us whether you have left WaterAid Canada a gift in your Will, although we're always very happy to hear from you so we can say thank you.
Life Insurance: A gift of life insurance can be an easy and cost-effective way to provide significant future support. There are a number of ways that this can be accomplished. As always, we recommend speaking with your legal advisor, financial planners and life insurance providers to find a solution best suited to you.
- Transfer an Existing Policy: The ownership and beneficiary designation of an existing life insurance policy can be transferred to WaterAid Canada. You will be eligible for a charitable tax receipt for the cash value of the policy and for any premiums that you continue to pay.
- Purchase a New Policy: You can purchase a new life insurance policy and name WaterAid Canada as the owner and beneficiary of the policy. You will receive a charitable tax receipt for the premiums you pay each year.
- Change of Named Beneficiary: If you have an existing policy or are purchasing a new policy, you may retain ownership and name WaterAid Canada as the beneficiary. At the time of your death, a charitable tax receipt equal to the proceeds of the insurance will be issued to your estate. You are not eligible to receive a charitable tax receipt for premiums that you continue to pay.
Registered Retirement Plans:
- If you are the holder of a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) and you die without a surviving spouse or a “qualified beneficiary”, your estate could be left with significant taxes to pay. You may wish to consider naming WaterAid Canada as a beneficiary of all or a portion of your remaining RRSP or RRIF to not only make a generous gift to a cause that you believe in but to help reduce the taxes owing by your estate.
- This can be done either by completing a Change of Beneficiary form with your financial institution or through your Will. Your financial and legal advisors will know what is best for your personal situation.
Thank you for considering leaving a legacy gift to WaterAid Canada. Together we will provide clean water, decent toilets and good hygiene to everyone, everywhere.
For more information, assistance or to inform us of your intent, please contact Paul Dickson.
Phone: 613-230-5182 (Toll free: 1-800-370-5658)
Email: [email protected]