When considering a bequest in your will, there are three different opportunities for gifts, a specific gift, a residual gift and a contingent gift.

• A Specific Gift is a bequest of a specific dollar amount or a gift such as jewelry, furniture or family heirlooms.
• A Residual Gift is a gift of all or a fraction of whatever remains of your estate (the “residue”) after all debts, taxes, administrative expenses, and specific bequests have been made.  Naming a charity such as St. Joseph’s Health Care Foundation London as a residual beneficiary, would remove the possibility that your estate may be paid to the government should your other beneficiaries and next of kin not survive you.  A tax receipt would be issued for 100% of the residual gift to the charity.  This receipt could then be applied to offset any capital gains that your estate would have to pay.  This would provide additional tax credits that would be passed on to the family and or other beneficiaries.
• A Contingent Gift is a gift which takes effect only in the event of the prior death of other named beneficiaries. 

Please use this form If you would like to name St. Joseph’s Health Care, London in your will ( 663kb .pdf download)

For more information on considering a bequest in your will, please contact:
Sue Hardy, Manager, Leadership Giving
sue.hardy@sjhc.london.on.ca or 519-646-6085