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Bequests • remember NLSF in your Will

The most common way to make a planned gift (‘a bequest’) is through your Will. NLSF can accept both cash bequests and gifts-in-kind and will provide tax receipts that produce a full charitable tax credit. As with current gifts, bequests may be designated as ‘unrestricted’ (giving the Schools Foundation the most flexibility), or ‘restricted’ (designated for a specific purpose). Sample Will Language.

The most common types of bequests are:

    • Specific Bequest - NLSF receives a specific dollar amount or a percentage of an estate.
    • Residual Bequest - NLSF receives all, or a percentage of the remainder of a donor’s estate after other specific legacies have been fulfilled.
    • Contingent Bequest - NLSF receives all, or a share of, the estate after the death of other named beneficiaries.
    • Remainder Trusts - Named beneficiaries receive income from a trust established in the Will. Upon death of the surviving beneficiaries, all or part of the principal passes to NLSF.

How to make a bequest

If you are contemplating a major change in your current Will, or if you are about to draft a new Will, a bequest to NLSF is a simple inclusion. We have prepared suggested wordings, which will assist you in discussions with your lawyer, and we would be pleased to forward a copy of the wording at your request. If you have a Will and are contemplating a bequest to NLSF, you should discuss a codicil with your lawyer. 

Benefits to you

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest to a particular purpose (be sure to check with the Schools Foundation to ensure your gift can be used as intended).
  • There is no upper limit on the charitable credits that can be claimed for charitable bequests.
  • You know that your gift will benefit NLSF tomorrow just as you intend it today.

For more information

Crystal Dennison, Executive Director of Nanaimo-Ladysmith Schools Foundation, will work closely and confidentially with you and your advisors to ensure your planned gift suits your financial and philanthropic needs. Please contact Crystal at 250.753.4074 or

We work with: Cash donations, Memorial gifts, Endowment/Wills, Life Insurance policies, Securities
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