A small thing you do now could be the start of something big.
What will your legacy be?
Your legacy is not only tied to how you live your life, but also to the lasting impact your life makes on others. Many people choose to leave a charitable gift in their will to make sure their legacy helps to make the world a better place.
Leaving a gift in your will is easier than you might think. The promise of a healthier world for future generations starts with you.
Everyone can help achieve extraordinary things, simply by planning ahead. For decades, gifts in wills to Toronto General & Western Hospital Foundation have supported medical breakthroughs that have transformed health care here and around the globe.
A gift in your will provides UHN with future funding – allowing us to accelerate discoveries and provide patients with the world-class care they need and deserve.
As Canada’s number-one research hospital, and home to the number-four hospital in the world, UHN has a rich history of discovery that has saved – and continues to save – countless lives, in our local community and beyond. From revolutionizing transplant surgery to curing blindness through cell transplantation and more, UHN’s teams of world-class clinicians and researchers are driven every day to unlock new ways to make lives better.
But they can’t do it alone. Donor support is absolutely critical to this life-saving work, and philanthropy is responsible for funding some of the most transformational research and discoveries in health care today.
The reality is that, just as in life, we don’t know what the future holds. A gift in your will helps ensure a safety net of funding for our hospitals’ future needs – from purchasing the latest state-of-the-art equipment to fuelling the next major discovery.
It’s not only meaningful – it’s simple to arrange and has other benefits as well:
- Your income today is not effected and you can ensure your loved ones are taken care of first
- You can choose to leave a percentage or an amount, no matter how big or small
- There will be significant tax savings for your estate
- You will have peace of mind knowing your estate is arranged and your legacy will have a lasting impact
A gift in your will could be YOUR legacy – making an impact on health care for generations to come.
Thank you for considering leaving a future gift in support of our hospitals. We are here to help with any legacy giving questions you may have and would be delighted to work with you to ensure you have all of the information you need and your questions are answered.
Below you will find sample will wording to help get you started. Our team is happy to work with you to ensure your gift supports the program of your choice and your wishes are fulfilled.
You can view the wording below or download and print a copy.
Please remember it is important to consult your lawyer and/or financial advisor to ensure your wishes are properly documented.
Sample bequest wording
Types of gift by will:
1) A specific bequest is a gift by will of a specified amount or property such as real estate, art, or securities.
- I direct my trustees to deliver, pay or transfer the sum of $________ in cash or in kind to Toronto General & Western Hospital Foundation to be used where it is needed most.
2) A residual bequest is a gift from the remaining portion of the estate, after debts, taxes, and administrative expenses have been paid.
I direct my trustees to divide the residue of my estate into as many equal shares as may be necessary to give effect to the following provisions and to distribute such shares to the following organization:
- ____ % share to Toronto General & Western Hospital Foundation to be used where it is needed most.
Legal name: Toronto General & Western Hospital Foundation
Address: Toronto General Hospital, 190 Elizabeth Street, R. Fraser Elliott Building, 5th Floor, Toronto Ontario M5G 2C4
Registered Canadian Charitable Organization Number: 12386 4068 RR0001
Power to vary
To ensure your gift is utilized according to your wishes, you may want to include the following Power to Vary clause. It ensures that if a program you designate no longer exists, your gift will support a program that is the closest possible match to your original designation.
If, in the opinion of the Board of Directors of the Toronto General & Western Hospital Foundation, it should become impossible, inadvisable or impractical to use this gift for the purposes of supporting ____________________________________, then the Board may in its discretion use the gift to the best advantage of the Toronto General & Western Hospital Foundation, keeping in mind the original wishes of the donor.
Please consult a lawyer when making changes to your will.
If you have already included us in your will – thank you! We would like to know so we can thank you and ensure your gift is recognized the way you would like it to be.
When you leave a gift to Toronto General & Western Hospital Foundation through a bequest, life insurance policy, trust or other estate plan, you can become a member in our Legacy for Life Society in perpetuity.
Benefits of membership:
Members of the Legacy for Life Society enjoy special benefits that bring them closer to the excellent health care they make possible:
- Invitation to our Annual Members Luncheon and Induction Ceremony
- Listing on our Legacy for Life Donor Walls
- Invitations to special tours, events and Behind the Scenes lectures
- Subscription to Report on Your Support
Our Legacy for Life Society is incredibly special to our organization and we want to make sure that our donors know how grateful we are for their gift.
Grateful transplant recipient leaves a legacy gift
Allan and Margaret were so grateful for the care they received that they decided their ongoing donation to Toronto General & Western Hospital Foundation (TGWHF) was not enough. They wanted to contribute to the hospital through a planned estate gift.Read more
Which type of legacy gift is right for you?
These gifts can come in many forms. Find the gift that’s right for you:
Leaving a bequest in your will is the most popular and easiest way to make a future gift. It has no effect on your current income and significantly reduces the taxes payable by your estate. Your gift can be a specific amount, stocks or securities, or a percentage of your estate. Here is sample wording to assist you in getting started.
You can designate Toronto General & Western Hospital Foundation as a beneficiary or co-beneficiary on an existing life insurance policy and your estate will receive a tax credit. Or transfer ownership of an existing life insurance policy over to us and receive a tax receipt for your annual premiums.
You can designate Toronto General & Western Hospital Foundation as a beneficiary or co-beneficiary on your residual RRSPs and your estate will receive a tax credit. This is an excellent way to reduce taxes on your estate.
Looking for a simple, convenient and cost-effective alternative to creating a private family foundation? Donor Advised Funds provide all of the advantages of a family foundation without the upfront costs and administrative responsibilities. If you have a number of charities that you would like to support through your estate, you can create a Donor Advised Fund at Toronto General & Western Hospital Foundation. Your contribution is invested by the Foundation for a fixed period or in perpetuity, with the portion of the capital and/or investment income made available for granting to your favourite charities.
Free wills service:
Toronto General & Western Hospital Foundation has partnered with the Canadian Free Wills Network and is currently offering donors over the age of 55 an exclusive opportunity to create a free will*. There is no obligation to include a gift to the Foundation in your will. Ensure your intentions for your estate are properly documented and that your family and loved ones will be taken care of after you are gone.
For information on how you can achieve peace of mind knowing your estate is arranged and you are leaving a meaningful legacy, contact us.
*The Network service pays for simple wills as defined by the drafting lawyer. If additional services beyond a simple will are required, you will be billed by the lawyer directly with prior mutual consent.
Let’s keep in touch:
We want to make sure we stay in touch! The Foundation regularly holds tax seminars and events related to estate planning. We would also like to invite you to our events and keep you informed in this virtual world. If you’d like receive communications from our team, please fill out the form below.
Meet our team:
Vice President, Estate Giving
Manager, Estate Giving
T: 416-340-4800 x 6695
Stay connected with us