Wills and Bequests

Your legacy gift helps to provide Great Lakes Bible College with a sustainable resource that will be used to enhance our ministries now and in the future. Remember Great Lakes Bible College in your will, along with loved ones and others who have given your life meaning. This is one of the simplest and most flexible ways to create a lasting legacy

A bequest is a lasting gift from the heart with practical benefits to your surviving heirs. Your estate receives a tax receipt for the full amount of the donation, which may offset capital gains or other taxes due. You may designate the gift to specific funds, or allow Great Lakes Bible College to put it to work where it is most needed at the time. All undesignated bequests made to the Great Lakes Bible College supports emerging and unfunded priorities through our General Fund.

Bequests may come in the form of a percentage of your estate, specific cash amount, property, securities, or other assets. A charitable bequest has no effect on you financially in your lifetime.

All it takes is a simple clause in your will to leave a gift demonstrating your commitment to the work of the Great Lakes Bible College — and continue transforming lives long after you have gone. Your lawyer can include a simple clause naming the Great Lakes Bible College as a beneficiary. If you already have a Will, the easiest, least expensive way to include a bequest is to add a codicil, where you specify your gift and name Great Lakes Bible College as beneficiary. The provisions of your existing will remain unchanged.

Note:  A codicil is often added after the completion of a Will. The testator (the person making the will) may have a change of heart regarding a specific bequest, the division of their property, or inclusion or exclusion of someone to the Will. In this case, the testator may execute a codicil, an amendment, to the Will. (from canadalegal.com)

Sample clauses for wording your bequest

Specific amount bequest:

Residual bequest:

The decision to leave a gift in your will to the ministry of Great Lakes Bible College may take place at any stage in your life.

Talk to your family, talk to your financial planner and talk to us.

Should you decide to leave a gift in your will, please email immanuelvelasco@glbc.ca to share your wonderful news with us.

Disclaimer

There are numerous options for legacy gifts. We encourage you to consult with your legal and financial advisors to consider all the relevant issues and income tax provisions.