Bequests to Christ the King Parish
A bequest to the Christ the King Parish, is a thoughtful way to help
provide for the faith life of future generations. Through the gift
of a bequest, you can reflect and uphold your values, while making
an appreciable and lasting difference in your Church.
Since a bequest is a deferred gift until you pass away, it does not
give any immediate income tax benefits. On your passing, however,
this type of gift is eligible for tax credits which may be applied
against up to 100% of your income, including all capital gains
realized in respect to assets you are deemed to have disposed of
on death, as stated on your final income tax return. These credits may also be carried back and applied against your income claimed in the five (5) years immediately preceding death. (For further information, please consult the Canada Revenue Agency or seek professional advice.)
Types of Bequests
Your bequest to Christ the King Parish, may be one, or a combination, of the following:
A specific dollar amount;
A specific real property (e.g. a parcel of land);
Any particular personal property, such as private company shares or publicly-traded stocks and other securities;
A specified percentage of the residue of your estate (e.g. 10%, 25%, etc.); or
The entirety of your estate.
You may also make a bequest by designating Christ the King Parish as the primary or alternate beneficiary of a registered plan (e.g. RRSP or RRIF) or a life insurance policy.
Restricted versus Unrestricted Bequests
An unrestricted bequest allows Christ the King Parish to use your gift where the need is greatest, while a restricted bequest is a gift made for a specific purpose. For example, you may specify the gift be used for a particular building project or ministry, such as faith education.
The drafting of your Last Will and Testament should be arranged with the involvement of qualified legal counsel. Since circumstances, needs and programs can change, we suggest that you allow for the broadest possible flexibility in determining how your gift should be used by Christ the King Parish while, at
the same time, ensuring that your wishes can be carried out.
If your estate plan contemplates a bequest for Christ the King Parish in your Will, we would like to hear from you. We could assist in reviewing the terms of the bequest with you, particularly if it is restricted, to ensure that we will be able to comply with your wishes. Also, we would like to appropriately thank you while you are still living for your generous intention to leave a bequest after you pass away.
Suggested Wording in Your Will
If you wish to designate a specific ministry, program, for your bequest or if you require more information, please contact the Christ the King Office in writing at email@example.com or
by calling 204 257 3300.
Please note that this information is general in nature and does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning or financial advice, as required in your personal situation, before deciding on your course of action.
Here is an example of suggested wording for a bequest of unrestricted use:
I give and bequeath to the Parish of Christ the King of the Archdiocese of Saint Boniface (also
known as Christ the King Parish, registration no. 13168 3484 RR0001), Winnipeg, Manitoba, the
sum of $_____ (specific amount) or _____% (a percentage) of the residue of my estate to be used for its
general purposes as Christ the King Parish sees fit.
* For an unrestricted bequest made directly to a parish or a school, please ensure that the wording in your Will uses the correct name, location and charitable organization registration number of the parish.
*You would state the detailed description of what you, the donor, would want the bequest to accomplish or the particular parish, program or ministry you want it to support.
Here is an example of suggested wording for a bequest of restricted use:
I give and bequeath to the Parish of Christ the King of the Archdiocese of Saint Boniface (alsoknown as Christ the King Parish, registration no. 13168 3484 RR0001), Winnipeg, Manitoba, the sum of $_____ or _____ % (percent) of the residue of my estate to be used for the purpose of *
_______________________________________________. If, in the opinion of Christ the King Parish, it should become impossible, inadvisable, or impractical to use this gift for this specific purpose (or these specific purposes), then Christ the King Parish may in its discretion use the gift in a manner that closely fulfils the purpose (or purposes) I intend to benefit.
Examples of Restricted Use you might consider are (but not limited to):
To support a particular long term project or Parish building upkeep. For a restricted bequest made to a parish, please ensure that the wording in your Will uses the correct name, location and charitable organization registration number of the parish.
To support any projects or program . For general information on the Parish's varied programming and ministries, please visit its website at: https://www.ctkp.ca