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Strategic Planning

Legacy Giving

A Charitable Legacy, it’s not just about the Cheque……

For many people, a significant way of showing how deeply they care, or the importance they give a charitable organization, is through leaving a legacy or a “planned gift.”

The legacy gift is a very special, carefully considered planned donation. These are often very personal to the donor, and may carry a deep meaning. These planned gifts are made through balancing your financial ability to give, family commitment, and your desire to give.

If you are thinking about giving back through your wealth, you face some basic choices about how to create your own charitable legacy.

Partners in Caring would welcome discussion about your estate planning. We also highly recommend discussion with your financial planner. Some options are listed below.

 

Benefits of Legacy Giving?
Ensure your memory lives on.

 

Maximize significant tax advantages through your contributions now and/or in your estate.
Enrich the lives of others now and in the future.

 

Ensure that Arnprior Regional Health continues to provide exemplary care to the community and it’s families

 

The Best Way to Leave Your Legacy

 

Leave a gift in your will to the Arnprior Regional Health Foundation that makes a difference.

 

Consider using assets for your legacy gift.

 

Name Arnprior Regional Health Foundation as beneficiary of your RRSP, RRIF, pension, new or existing life insurance policy.

 

Provide Arnprior Regional Health Foundation  the residual interest in your will or a set dollar amount.

 

Ask your financial/estate planner to include Legacy Giving as part of your financial plan.

 

 

Bequests

Many people also designate charities as beneficiaries of their estate in their Will. You can choose to leave an
absolute dollar amount, a certain percentage of your estate or a residual amount that goes to a specific charity
after your other beneficiaries have received their bequests. A bequest makes sense when you want to
make a one-time gift to your chosen charity at a future date, while providing a tax credit for your estate.

Charitable Remainder Trusts

This may be suitable if you are considering a significant charitable gift – at least $200,000 to justify the trust’s
various expenses – and would prefer an immediate tax credit versus one for your estate. You contribute cash or other assets during your lifetime to an irrevocable living trust and receive income generated by assets within the trust. On your passing, the initial capital passes directly to the charity named as the beneficiary, bypassing probate.

Charitable Gift Annuities

A charitable gift annuity enables you to give a lump sum to a charity and receive guaranteed periodic income in return, usually monthly, making it an attractive option for retirees. The charity generally retains 25-30 percent of the donation and uses the balance to purchase the annuity from an insurance company. Charitable gift annuities are irrevocable, so you should be willing to give up control of any money you commit to it.

Life Insurance Policies

Gifting a new or existing Life Insurance Policy is another option. This type of gift allows the donor to donate a
substantial amount in the future by making a series of modest donations now. You can buy a new policy or
designate an existing policy – while receiving a tax receipt for each premium payment you make.

 

“You make a living by what you get,
but you make a life by what you give."
- Sir Winston Churchill

 

 

 

 

 

 

 

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