Get the free Statement of Gift Intent and Membership in the Legacy for Life Society - tgwhfonline

Membership and Statement of Intent Toronto General and Toronto Western Hospitals have a legacy of saving lives. When you leave a gift to Toronto General & Western Hospital Foundation through a bequest,

How to fill out statement of gift intent

How to fill out a statement of gift intent:

1. Start by clearly identifying the donor (the person making the gift) and the recipient (the person receiving the gift). Include their full names, contact information, and any relevant identification or account numbers.
2. Specify the nature of the gift. Describe what is being given, whether it's a tangible item, a sum of money, real estate, or any other form of property. Provide detailed information about the gift to avoid any confusion or ambiguity.
3. State the intent of the gift. Explain why the gift is being given and any specific purpose or conditions associated with it. For example, if it is a monetary gift for educational purposes, mention the intended educational institution or program.
4. Indicate any restrictions or limitations on the gift. If there are any specific terms or conditions attached to the gift, such as it being used for a particular purpose or not being transferable, clearly state those in the statement.
5. Include the date when the statement of gift intent is being made. This will establish the timeline of the gift and can be used as a reference in the future if needed.
6. Have the statement of gift intent notarized, if required by law or if it adds an extra layer of authenticity or legal validity to the document. Notarization involves a notary public verifying the identity of the individuals signing the document and witnessing the signing process.

Who needs a statement of gift intent?

1. Individuals making significant gifts: Any person who wishes to make a substantial gift or donation that may have legal or financial implications should consider drafting a statement of gift intent. This can help ensure that the intentions behind the gift are clearly stated and understood.
2. Recipients of gifts: Individuals who will be receiving valuable gifts may also benefit from having a statement of gift intent. It provides them with documented information about the gift, its purpose, and any conditions attached to it.
3. Legal advisors or professionals: Lawyers, financial advisors, or estate planners who are involved in facilitating or overseeing gift transactions may use a statement of gift intent to ensure compliance with legal requirements and protect the interests of their clients.

In summary, a statement of gift intent is filled out by clearly identifying the parties involved, describing the nature of the gift, stating the intent and purpose of the gift, specifying any restrictions or limitations, including the date, and having it notarized if necessary. This document is useful for individuals making significant gifts, recipients of gifts, and legal advisors or professionals involved in gift transactions.

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