A legacy gift to St. Joseph’s Hospice is a wonderful way to demonstrate your commitment to hospice palliative care and ensure a sustainable future for the charity.
Wills and Charitable Bequests
Remembering St. Joseph’s Hospice in your will is an act that is generous, powerful, and surprisingly simple. It allows you to leave a gift while still retaining control of your assets. You can leave a piece of property, securities, cash, or even a percentage of your estate. Your estate will receive a charitable tax receipt that can lower or even eliminate estate taxes.
Insurance Policies provide an easy way to make a significant future gift without reducing the value of your estate. Have the Hospice named as your owner or beneficiary of an existing or new policy. You receive a tax receipt for the cash surrender value (if any) of the policy and further receipts on future payment of premiums.
Alternatively, you may simply name St. Joseph’s Hospice as the beneficiary of your insurance policy and at the end of your lifetime, the proceeds are received by the Hospice and a donation receipt is issued to your estate.
Gift of Retirement Funds
You may wish to leave to St. Joseph’s Hospice some or all of the funds in your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). It’s as simple as naming St. Joseph’s Hospice as a beneficiary.
Charitable Remainder Trusts
Through Charitable Remainder Trusts, assets are transferred to an irrevocable trust with a trustee to manage the assets. On termination of the trust, St. Joseph’s Hospice receives the remaining assets. The advantage is that you receive an immediate tax credit for your future donation.
Charitable Gift Annuities
Charitable Gift Annuities allow you to make a contribution to the Hospice and in exchange, you receive guaranteed lifetime annuity income. Depending on your age, this income will be partially tax-free or even fully tax-free.
Gift of Securities
By donating publicly traded securities, you eliminate the capital gains tax that you’d have to pay if you sold the securities and then donated the proceeds. You’ll also receive a charitable tax receipt for your donation.
Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares, and employee stock options. You can give now, or as part of your estate and will planning.
Giving a legacy gift is an important decision that requires thoughtful planning. If you wish to make a legacy gift, we suggest you seek legal and accounting advice to ensure your specific wishes are carried out and your estate enjoys the tax benefits of your generosity. We would be happy to help with the planning process and answer any questions you or your loved ones may have.
For more information about legacy giving, please contact: