Bequests
Up-to-date wills help to ensure that your family will be
provided for and your favourite charities will be supported. Gifts made
through a will are called bequests. You can make your bequest a specific percentage of the residual amount of your estate or a specific asset. Your will is your final statement of values.
Instead of naming one or more charities in your will, you can name MFC to receive your total bequest for charity. You then recommend to MFC
(on a separate document not forming part of your will) how your bequest
shall be managed and distributed. You may amend your recommendations
at any time without cost. Using MFC
to distribute or manage your charitable bequest relieves your executor
of this task.
Planning benefits:
- Through MFC your estate gift can be managed even after your estate has been finalized.
- You may recommend the charities you want to support and make changes during your lifetime.
- Your estate will receive a charitable receipt for the amount of your bequest, thus reducing or eliminating final taxes.
- You can make the distribution without restrictions or MFC will communicate your restrictions to the recipient charities.
- Your distributions to charity may be made anonymously.
MFC provides assistance to persons who want to make their first wills or to update their existing wills. When working with clients, we encourage them to remember charity in their estate distribution. MFC believes that providing a bequest to charity is the Christian’s final act of stewardship. A comprehensive Will and Estate Planning Guide is also available free-of-charge to members and adherents of our participating conferences. Contact any MFC Consultant to receive more information.