“Leaving a legacy is like planting trees under whose shade you do not expect to sit.”
Imagine transforming lives and bringing hope and healing to the world’s forgotten poor for years after you pass away. That’s what can happen when you chose to leave a lasting legacy.
By remembering Mercy Ships in your will, you can help future generations to see, walk or smile for the first time – transforming individuals…save lives!
A bequest can be as simple as a sentence or two naming Mercy Ships Canada Society in your will or adding a codicil to your existing will.
You can designate a specific dollar amount, a particular asset or a fixed percentage of your estate to Mercy Ships Canada. You can also request that the principal of your charitable bequest be held in endowment. The designated amount can be donated to Mercy Ships Canada’s most urgent needs or you can direct your bequest towards a particular purpose or program.
When you leave a bequest to Mercy Ships Canada, we will issue an tax receipt for the full value of the bequest which can then be used to reduce the tax payable on your final return.
Your gift is flexible and revocable at any time should your financial situation change.
Another option is to keep ownership of the policy and name Mercy Ships Canada Society as the whole or partial beneficiary. With this structure, you aren’t entitled to a charitable donation tax credit for the premiums you pay, but upon your death the charity can issue a tax receipt for the proceeds it receives from the policy. Since things like capital gains and RRSP proceeds are taxable on your final tax return (unless the taxable assets pass to your surviving spouse), the charitable tax credit may help reduce the income tax paid by your estate.
“I give, devise, and bequeath to Mercy Ships Canada Society, the sum of $________(or a description of the specific asset), for the benefit of Mercy Ships Canada Society and its general purposes.”
“I give, devise, and bequeath to Mercy Ships Canada Society, the sum of $_______ (or a description of a specific asset), for the benefit of Mercy Ships Canada Society to be used for the following purpose: (state the purpose). If at any time in the judgment of the trustees of Mercy Ships Canada Society it is impossible or impracticable to carry out exactly the designated purpose, they shall determine an alternative purpose closest to the designated purpose.”
“All the rest, residue, and remainder of my estate, both real and personal, I give to Mercy Ships Canada Society, for its general purposes.”
“I devise and bequeath the residue of the property, real and personal and wherever situated, owned by me at my death, to (name of beneficiary), if (she/he) survives me. If (name of beneficiary) does not survive me, I devise and bequeath my residuary estate to Mercy Ships Canada Society, for its general purposes.”