Bequests by Will

Bequests by Will – The Ultimate Gift

Psalm 116: 12 “What shall I return to the Lord for all his bounty to me?”

The Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) can be designated as a beneficiary in your Will.  Since the gift is deferred, there is no immediate income tax benefits associated with a bequest; however, this type of gift is eligible for a tax receipt which may be applied to up to 100% of the income (including all assets that are deemed disposed) stated on your final return.  The receipt may also be carried back and claimed in the year previous to death.

Your bequest to the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) may be one, or a combination, of the following:

  • A percentage of your estate, for example, 10%.
  • The residual of the estate (after all or part of the residue of the estate after all specific bequests and expenses have been paid out of the estate)
  • A specific dollar amount
  • Real Estate
  • RRSPs/RRIFs
  • Stocks and securities
  • Life Insurance policies

An unrestricted bequest allows the Eparchy to use the donor’s gift where the need is greatest.  A restricted bequest is a gift with a specific purpose.  The donor may specify the gift be used for a particular Eparchial Program or Ministry.

The drafting of a Will should be arranged with the involvement of legal counsel.  It is preferable that you allow for the broadest possible flexibility for determining how your gift should be used by the Ukrainian Catholic Eparchy of Saskatoon while at the same time ensuring that the church can carry out your wishes.

If your financial plan includes a bequest for the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) in your Will, we would like to hear from you.  We can then review the terms of the bequest with you, particularly if it is restricted, to ensure that we will be able to comply with your wishes.

Here is an example of suggested wording for Unrestricted Use:

I give and bequeath to the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI), Saskatoon Saskatchewan the sum of $_____ (specific amount) or _____% (a percentage) of the residue of my estate to be used for its general purposes as the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) sees fit.

Registered Charity #: 119039477 RR 0001


Here is an example of suggested wording for Restricted Use:

I give and bequeath to the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI), Saskatoon, Saskatchewan, the sum of $_____  or    _____ % (percent) of the residue of my estate to be used for ________________ .**  If, in the opinion of the Board of Directors of the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI), it should become impossible, inadvisable, or impractical to use this gift for this specific purposes(s),then the Board may in their discretion use the gift to the best advantage for the Ukrainian Catholic Eparchy of Saskatoon, keeping in mind the spirit of the gift intent.

Registered Charity #: 119039477 RR 0001

**You would state the detailed description of what you, the donor, would want the bequest to accomplish or be used for a particular program or ministry.

Examples of Restricted Use are (but not limited to):

  • To be used for the Lay Formation Program
  • To be used for any program of the Family and Life Office
  • To be used for any program of the Youth and Young Adult Ministry
  • To be used for any program of the Ukrainian Catholic Religious Education Centre
  • To be used to support my Parish _____________________, Town, Province, Postal Code
  • To be used to support Clergy and Religious Life
  • To be used to support the Ukrainian Greek Catholic Church in Ukraine…
  • Other Intentions

If you wish to designate a specific use for your bequest (a ministry or program) please contact the BBESSI office at 306-653-0138 ext. 223 or by e-mail at bbessi@outlook.com.

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 and/or financial advice before deciding on your course of action.

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