Legacy Giving Options - Estate Gifts

There are many other planned giving options that could be right for you!

Life Insurance: Gifts of life insurance can have significant benefits for health care facilities – and you. There are many ways to make a gift using life insurance, and different tax consequences for each. Give ownership of a new or an existing policy to the Foundation, or simply name the Foundation as the beneficiary. You can also make a “no-cost” gift by using life insurance to replace the value of a current gift of cash or stock to your heirs.

RRSPs and RRIFs: You can designate the Foundation as beneficiary of your RRSP or RRIF directly through your financial advisor, or make a gift in your will equal to the proceeds from your RRSP or RRIF.

Charitable Gift Annuity: Provides you with guaranteed, continuous income throughout your life, preferred tax benefits on that income, and often, a higher return than similarly guaranteed income investments can offer. You will be entitled to a charitable donation receipt for the gift portion or your charitable annuity at the time the gift annuity is set up. Your annuity will be reinsured through an insurance company. This plan is of particular interest to people in their 70’s or older who are prepared to make an irrevocable gift to a charity.

Gift of Residual Interest: A gift that you give in the future, but retain its use throughout your lifetime. A Gift of Residual Interest includes personal property, such as a residence, land, or works of art. Such a gift requires that the property be irrevocably transferred to a charity. You are then entitled to a charitable donation receipt for the discounted residual interest (value in today’s dollars of what the charity is expected to receive from your gift at your death).

Trusts: An “Inter Vivos” trust allows you to make a gift to the Foundation during your lifetime in exchange for a guaranteed income for life. Upon termination of the trust, the remaining assets in the trust will go to the Foundation. You can also set up a “testamentary trust” through an estate gift.

Property: You can donate real estate, shares in privately-held corporations, royalty interests, art, jewelry, collections, or other property to the Foundation.

We Can Help

For more information or a confidential discussion, contact UHKF at 613-549-5452 or email foundation@uhkf.ca.

More Legacy Giving Options