It allows you to leave a fixed amount of money or a particular asset to CRS.
Legacy gift
Including a charitable gift in your will is a simple and thoughtful way to support the Cancer Research Society (CRS) and benefit future generations. A bequest is a flexible and reassuring form of planned giving that can be changed at any time, allowing you to retain full control of your assets during your lifetime.
Why Make a Gift Through Your Will?
A charitable bequest is an excellent way to help fund innovative research projects that advance the prevention, detection, and treatment of all types of cancer. It may also qualify for federal and provincial charitable tax credits.
Depending on the applicable tax rules, the credit associated with an estate donation may, in certain circumstances, be claimed by the estate or applied to the deceased’s final tax return or the return for the preceding year.
This flexibility may help reduce the tax payable by the estate. When the estate is settled, a charitable tax receipt equal to the value of the gift may be issued in accordance with applicable tax rules, potentially reducing the taxes owed by the estate. It is recommended that you consult a legal or tax professional to determine the tax implications of the type of bequest you choose.
Types of Charitable Bequests
There are several ways to leave a gift to the Cancer Research Society (CRS). The most common are a specific bequest, a universal bequest, and a residuary bequest.
1 – Specific bequest
2 – Universal bequest
It allows you to leave your entire estate to CRS, either alone or together with other universal legatees.
3 – Residuary bequest
It allows you to leave all or a percentage of what remains of your estate after debts, taxes, expenses, and other gifts have been paid.
How to Get Started?
- Determine which type of bequest best suits your wishes.
- Have your will prepared or updated by your notary or lawyer, ensuring that the Cancer Research Society (CRS) is named as a beneficiary.
- Inform your estate executor of your decision.
- Let the Cancer Research Society know about your planned gift, if you wish.
Once the gift has been received, the Cancer Research Society will issue an official charitable receipt to the true donor, generally the estate, in accordance with the applicable tax rules.
Need More Information?
If you have any questions about making a gift through your will to the Cancer Research Society or would like to let us know about your intentions, please contact our Major and Planned Giving Manager or consult our resources.
Mazen Boustani
Manager, Major Gifts and Planned Giving
Phone: 514-861-9227, ext. 248
Email: mboustani@src-crs.ca
Frequently Asked Questions
What types of testament gifts can I make?
There are several types of testament gifts you can make, but the most common are specific bequests, universal bequests, and universal or residual bequests. Your notary or lawyer can advise you on which option is best suited to your situation and philanthropic goals.
How can I ensure that my will is valid and that my gift is transferred to the Cancer Research Society (CRS)?
Clearly state your intention to leave a bequest to the Cancer Research Society, using its full legal name and official information. This applies whether your will is notarized, witnessed, or handwritten (holographic). A sample testament clause is also available from our team.
Will my estate receive a tax receipt?
Yes. Depending on the applicable rules, an official tax receipt may be issued to the estate and may help reduce the amount of tax payable. Consult a notary, lawyer, or tax advisor to understand the implications specific to your situation.
Can I choose the type of cancer or a specific research project that my gift will support?
In some cases, it may be possible to designate your gift to a specific area of research or project. Please contact our team to discuss the options available.
Do I need to inform the Cancer Research Society of my intention?
It is not mandatory, but it is recommended. This allows us to better understand your wishes, answer your questions, and facilitate the settlement of your estate. Your confidentiality and your wish to remain anonymous, if applicable, will be fully respected.