Legacy Giving FAQ
Why should I leave a gift in my Will?
Leaving a gift in your Will sets out your values, telling your loved ones what is most important to you. It is for anyone who cares deeply about people in need. If you believe, as we do, that no one should suffer from neglected tropical diseases like leprosy, we ask that you consider including us in your Will because you can transform the lives of those in need for years to come.
How do I start the process of making a Will?
We recommend that you first tell your family about your intentions. Then consult your lawyer, financial planner and your bank manager for any advice they may have.
What is the suggested wording for my Will?
If you already have a Will and would like to include a gift to Effect Hope, you don’t have to rewrite your existing Will. A simple addition – called a codicil – is all you need. Speak to your lawyer about how to add a codicil into your Will. You can also use the suggested wording below.
Suggested wording for leaving a gift to The Leprosy Mission Canada (Effect Hope) in your Will:
“I give and bequeath to Effect Hope (The Leprosy Mission Canada), 20 Valleywood Dr Unit 101, Markham, ON L3R 6G1, the sum of $_____ or _____% of the residue of my Estate for its general purposes.”
Charitable Registration Number: 11924 1990 RR0001
Do I need a large Estate?
Any gift from your Estate can have a significant impact on those who suffer from neglected tropical diseases like leprosy. As Mother Teresa said, “We ourselves feel that what we are doing in just a drop in the ocean. But the ocean would be less because of that missing drop.”
How can I leave a gift to charity but still include my loved ones?
There are two ways you can provide for both. One is by leaving a specific amount to a charity, such as Effect Hope, that will leave the majority of your Estate to your family. You can also leave a large percentage of your Estate (called the “residual amount”) to your family while still giving an impactful portion to Effect Hope. Again, you should talk to your family and your lawyer first.
Do I have to tell Effect Hope about my intention to include you in my Will?
While it is not mandatory, we would appreciate knowing that you have included us in your Will to thank you and to keep a continuous dialogue going in case you want to make any changes.
What are the 5 basic steps to prepare for making your Will?
- It takes a team: We recommend that you consult your lawyer, a financial planner, your bank manager, and your family.
- Make a Will: Your Will is a personal statement reflecting your values and priorities. A Will enables you to:
- Designate a person to administer your affairs after you die (executor)
- Appoint someone to serve as guardian if you have dependent children
- Disburse your assets exactly as you wish
- Appoint a power of attorney in the event that you can no longer care for yourself
- Reduce the tax implications for your estate
- Consider your priorities: What is important to you? Family, faith, justice, poverty reduction, climate change. How have you spent your life? What are your dreams.If you have been supporting Effect Hope, a gift in your Will can help continue our important work after you are gone.
- How to give your Gift: There are many options for making a planned gift. Each one has its own benefits and tax implications. Some help us leverage our assets while we are alive, some maximize the wealth we leave behind. We are here to help you understand the options and pick ones that best suit you.
- Discuss your plans with the beneficiaries: Make sure everyone understands your wishes. That way your gift will be used exactly as you intended.
Legacy Giving Checklist
A Short Checklist
Important Document Checklist: Keep these documents secure and inform your executor(s) and/or power of attorney holders of their location.
Essential items include:
- Maintain a comprehensive list of all bank accounts and their locations
- Document your lawyer and financial planner’s contact information
- Keep copies of life insurance policies, annuity agreements, and other financial instruments in a secure location
- Store your current will and your estate lawyer’s complete contact details
- Create a detailed list of all properties, real estate holdings, and other significant assets
- Share pre-arranged funeral plans and funeral home contact information with your power of attorney holder or closest
family member - Trust in your legacy planning decisions. Your assets represent a lifetime of work – ensure your distribution choices align with your values and wishes
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