Forms of Bequest

The following document is a guideline for the convenience of our donors. It should not be construed as legal advice from Trails Youth Initiatives, Inc.

  1. Specific Bequest

    1. Sum of Money

      Bequest could read: “I give to Trails Youth Initiatives, Inc., located in Stouffville, Ontario, the sum of (amount) ... ”

    2. Particular properties such as real estate, stocks, bonds, jewellery, works of art or other items. Unless the property is of use to Trails Youth Initiatives, Inc., it will be sold, and the proceeds, less any appraisals and selling costs, applied to the terms of the bequest.

      Bequest could read: “I give to Trails Youth Initiatives, Inc., located in Stouffville, Ontario, (description of property )... ”

      Trails’ tax receipts are based on the value of the gift at the time it is received, and in some cases, when required, based on an independent appraisal.

  2. Rest and Residue of Estate

    Trails Youth Initiatives, Inc. is given all or a percentage of what remains of the estate after paying debts, taxes, expenses, and other bequests.

    Bequest could read: “I give to Trails Youth Initiatives, Inc., located in Stouffville, Ontario, all (or stated percentage) of the rest, residue, and remainder of my estate ... ”

  3. Contingent Bequest

    This gift takes place only if the testator is not survived by certain individuals.

    Bequest could read: “If (name/s of primary beneficiary/ies) do/es not survive me, or shall die within ninety (90) days of my death, or as a result of a common disaster, then I give to Trails Youth Initiatives, Inc., located in Stouffville, Ontario, (describe amount of cash, property or percentage of residual estate )... ”

  4. Charitable Remainder Trust

    A designated portion of the estate property is used to fund the trust, which then pays the net income to the beneficiary(ies) identified in the donor’s will. When the trust terminates (at the death of the beneficiary(ies) or at the end of a term of years), the trust principal is distributed to the Charity.

    Bequest could read: “I direct that my executor raise out of the capital of my estate the sum of $_______ to be held and invested by my trustee and to pay to (name of spouse or other individual/s) all of the net income which accrues therefrom during (his, her, their) natural lifetime(s). Upon the death of ________ , such trust shall be distributed to Trails Youth Initiatives, Inc., located in Stouffville, Ontario. I appoint (name of person or institution) as trustee of this trust.