The following information explains how you and your clients can help to preserve our Hospital's ongoing efforts to provide excellence in healthcare to people of the Sault Ste. Marie and Algoma District.
In the context of our role as fundraisers, we often will direct our donors to seek the advice and counsel of professional advisors who can provide them with the necessary information and giving options when wanting to make a substantial gift.
1. Specific bequest
A. Sum of money "I give to Sault Area Hospital Foundation the sum of (amount)..."
B. Particular property(ies) such as real estate, stocks, bonds, jewellery, works of art, or other items. Unless the property provides a purpose to the Hospital, as determined by the Board of Directors of the Sault Area Hospital Foundation, it will be sold. The proceeds, less any appraisals and selling costs will be applied as per the terms of the bequest. "I give to Sault Area Hospital Foundation (description of property)..."
2. Rest and residue of estate
"I give to Sault Area Hospital Foundation all (or stated percentage) of the rest, residue, and remainder of my estate..."
3. Contingent bequest
"If (name/s of primary beneficiary/ies) do/es not survive me, or shall die within ninety (90) days from the date of my death, or as a result of a common disaster, then I give to Sault Area Hospital Foundation (describe amount of cash, property or percentage of residual estate)..."
4. Charitable remainder trust
"I direct that my executor raise out of the capital of my estate the sum of $_______ to be held and invested by my trustee and to pay to (name of spouse or other individual/s) all of the net income which accrues therefrom during (his, her, their) natural lifetime(s). Upon the death of _________, such trust fund shall be distributed to Sault Area Hospital Foundation. I appoint (name of person or institution) as trustee of this trust."