Wills & Bequests

Leave a legacy: Remember Estonian Foundation of Canada in your Will

Many of us feel a tremendous devotion to our Estonian Heritage. By leaving a legacy gift in your will to Estonian Foundation of Canada (Charitable No. 891452575 RR 0001) you can make a great impact in ensuring your passion for our community even after you are gone.

A gift in a will can actually reduce the tax burden on your estate and does not take away from what you plan to leave your loved ones. A gift in your will, a bequest, does not cost you anything in your lifetime and allows you to share your story and love of Estonian culture and heritage with future generations. This is your legacy.

Your bequest is tax deductible.

Some Options for Making a Bequest

There are many ways to give to EFC You can leave a specific dollar amount or transfer securities or life insurance. Some examples of wording are below:

1. A Dollar amount

“I direct my Trustees to pay or transfer the sum of $_________ to the Estonian Foundation of Canada.”

2. Transfer of publicly traded stocks, ETF, or mutual funds

“I direct my Executor/Executrix or Trustees to transfer ____ shares of [stock/fund name], in kind, from my non-registered investment portfolio to the Estonian Foundation of Canada.”

Note: By gifting “in kind” the otherwise applicable capital gain triggered from selling the stock and gifting the cash is eliminated.

3. “Real property”

“I direct my Trustees to transfer and convey all my interest in real property [place, including address and description of real property here] to the Estonian Foundation of Canada.”

Other options of Legacy Gifting

Change or add the Estonian Foundation of Canada as a beneficiary to your existing:

1. Life insurance policy

2. Registered Retirement Income Funds (RRIF or LIF)

3. Registered Retirement Saving Plans (RRSP or LIRA)

4. Tax Free Saving Account (TFSA)

When there is a specified beneficiary to any of the above accounts, the asset need not go through the estate process, nor probate and will pass directly to Estonian Foundation of Canada

Please consult a lawyer, notary or financial advisor to discuss these options. We hope you are inspired to help make a significant difference to the Estonian communities in Canada, now and for future generations.

Thank you for considering the Estonian Foundation of Canada in your estate planning!