Estate Bequests

A charitable bequest is defined as direction in your will that leaves your assets to a charitable organization. Citadel Foundation is fortunate to have been the recipient of a major bequest from the PW Sims Estate for over 1.2 million dollars in 1987.

Charitable bequests give you the satisfaction of establishing a significant gift to a cause that you care about and have supported during your lifetime. There is usually a personal reason for choosing a charitable organization, and a bequest allows you to maintain full control of your assets during your lifetime.

The charitable bequest provides tax relief to your estate. Citadel Foundation will issue you a tax receipt for the full value of the bequest. The receipt can be used to reduce the tax payable on the final tax return. If your tax exceeds 100% of your income in your final year, the excess may be carried back to the previous year.

Your bequest can be a memorial for you, your family or anyone else you wish to honour.