Wills and Estates

Leaving a long-lasting legacy is important to many donors. A gift made through an estate is relatively easy and enables donors to retain full use of their assets during their lifetime. As well, it frequently offers your estate tax advantages that benefit your heirs.

There are four types of gifts by will, also known as bequests or estate gifts:

  1. Specific: A specific dollar amount or property (securities, real estate, artwork, etc.).
  2. Residual: A portion of your estate after debts and specific bequests have been paid out.
  3. Contingent: Paid only if other bequests cannot be satisfied.
  4. In Memory: Give in memory of a loved one.

Benefits of Making a Bequest

  • You can choose a CASA priority that meets your interests.
  • Bequests are tax-effective. Your estate may claim the gift in the year of death equal to 100 per cent of your net income in that year and the preceding year.
  • You have use of your assets while you are alive.
  • Bequests are revocable if your financial circumstances change.

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If your child is in physical danger or is at risk of harming themselves or someone else, call 911 or go to the nearest emergency department.

If your child is in crisis, dial the Edmonton crisis lines at 780-482-4357 or 780-342-7777 for immediate assistance.