A gift in your Will is not the only way to remember those in need in our community in your estate plans. There are other options available to you. We recommend you work with your professional advisors to choose what makes the most sense for you, your loved ones, your estate and tax planning.
Through a gift of life insurance, you can make small payments today that add up to commitment to community in the future. By working with your financial planner, you can structure a gift of life insurance in order to both receive tax benefits today and to pass them along to your beneficiaries.
A gift of Real Estate offers the opportunity to make a gift today, and to receive an immediate tax credit for the full fair market value of your property. Leaving a Real Estate gift simplifies your estate, provides a valuable tax credit, and allows you to see your legacy gift at work in your lifetime.
A charitable annuity offers you the option to designate assets to House of Friendship, while you are still living. You will then receive a tax receipt for your donation as well as an agreed income from House of Friendship that will be completely tax-free.
You may choose to designate House of Friendship as a beneficiary of a registered fund, like an RRSP or RRIF, or even a TFSA. Because income from funds such as these becomes taxable upon death, leaving them to House of Friendship generates a donation credit that can almost eliminate the taxes.
There are two ways to make this type of donation – designating House of Friendship as the beneficiary or donating the proceeds of the fund through your will. We recommend that you ask your advisor which option is best for you.
For more information on any of these other ways of leaving a legacy gift, please complete our information request form below to connect with Joanne Adair, our Development Manager.
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