Bequests

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- Sample Clause for a Bequest (for printing)

Bequest in a Will

A bequest to the Ordinariate or a Chapel is a gift of a specific property or a portion of an estate, usually through a will.

Gifts through a bequest can be claimed at 100% of net income.

Example 1:

Donation:	$20,000
Federal & Ontario tax credits:	$9,200
Net cost of donation:	$10,800

Example 2

Donation of property worth $30,000 with a cost of $20,000 (see memo on listed securities if these are being donated)

Donation of property:	$30,000
Federal & Ontario tax credits:	$13,800
Tax on capital gain:	$2,300
Net income tax reduction:	$11,500

Specific Bequest to Your Chapel

“To pay to (Name of Chapel) Roman Catholic Chapel for its own use absolutely, the sum of $_________. I declare that the receipt of the person professing to be the Pastor or Parochial Administrator of the Chapel shall be sufficient discharge to my Trustee who need not see to the application thereof. I further direct that if (Name of Chapel) does not exist at the time of my death, this bequest shall be paid to the Chapel’s successor, and if no such successor exists, then to the Roman Catholic Military Ordinariate of Canada for it to pay to a Chapel it has designated to replace the (Name Chapel).”

Percentage of the Residue of Your Estate to Your Chapel

“To pay to (Name of Chapel) Roman Catholic Chapel for its own use absolutely, ______% of the net residue of my Estate. I declare that the receipt of the person professing to be the Pastor or Parochial Administrator of the Chapel shall be sufficient discharge to my Trustee who need not see to the application thereof. I further direct that if (Name of Chapel) does not exist at the time of my death, this bequest shall be paid to the Chapel’s successor, and if no such successor exists, then to the Roman Catholic Military Ordinariate of Canada for it to pay to a Chapel it has designated to replace the (Name Chapel).”

Specific Bequest to the Ordinariate

“To pay to the Roman Catholic Military Ordinariate of Canada for its own use absolutely, $___________. I declare that the receipt of the person professing to be the Vicar General shall be sufficient discharge to my Trustee who need not see to the application thereof. ‘’

Percentage of the Residue of Your Estate to the Ordinariate

“To pay to the Roman Catholic Military Ordinariate of Canada, for its own use absolutely, ______% of the net residue of my Estate. I declare that the receipt of the person professing to be the Vicar General shall be sufficient discharge to my Trustee who need not see to the application thereof. ‘’

notice - avis

Prior to making your gift, we recommended that you received independent professional advice concerning the possible financial, taxation and legal consequences of doing so.

Avant de faire votre don, nous vous recommandons d'obtenir un avis professionnel indépendant concernant les éventuelles conséquences financières, fiscales et juridiques d'un tel geste, financières, fiscales et juridiques d'une telle décision.