Wills and Bequests
- Writing your will puts you in control and gives you power – power to provide for your loved ones as you see fit, power to ease the transition of your death, and power to create a lasting legacy to the community that will continue to provide support for the future.
- Gifts made in a will are known as bequests. These bequests are vitally important for McNally House Hospiceto continue to provide end-of-life care to people living with a terminal illness.
- Benefits of a bequest to McNally House Hospice
- Your current standard of living will not change.
- When you die, your estate is entitled to a donation receipt for the full value of your gift. This is a significant tax credit on your final tax return
- You can direct your bequest to a specific purpose, or you can request that your gift be used where it is most needed.
- The following are examples of bequests, with the appropriate wording.
Sample Will Wording
General bequest, where you leave a specific amount or percentage of your estate to the Hospice “I direct my trustees to deliver, pay or transfer ___ percent (or $ ________) of my estate to McNally House Hospice.”
Residual bequest, where McNally House Hospice will receive the remainder of your estate after expenses, debts and taxes have been paid and loved ones provided for “I direct my trustees to deliver, pay, or transfer the residue of my estate to McNally House Hospice.”
Contingent bequest, where all or a portion of your estate is left to McNally House Hospice only under certain conditions “Upon the death of __________, to pay the residue of my estate (or $_____) to McNally House Hospice.”
We strongly encourage you to consult with your own legal and financial advisors before making any kind of planned gift to McNally House Hospice.