Everyone wants to leave a legacy, something they will be remembered for. Legacy giving is important because it creates a vision of hope for the next generation. Your donations help local heathcare close to home now, but they also help ensure the proper treatment and care of the next generation.
How do I leave a Legacy Gift?
There are many ways to give a legacy gift to St. Joseph’s Hospital.
Donations of Securities
Gifts of securities are a tax effective way to contribute to St. Joseph’s Hospital Foundation. As of 2006, Canadians are not taxed on the capital gain of the donated securities. You receive a tax receipt for the fair market value of the securities. By donating gifts of securities, you often enjoy tax savings greater than those you receive when donating cash. Securities can be donated throughout your lifetime or through your will.
Gift of Life Insurance
The donation of a new life insurance policy or adding St. Joseph’s Hospital Foundation to an existing policy provides the opportunity to make a substantial contribution while providing you or your estate with potentially significant tax benefits.
RRSP’s or RRIF’s
Naming St. Joseph’s Hospital Foundation as a beneficiary on your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) allows you to donate all or a portion of your retirement savings to the Foundation. Your estate will receive a charitable tax receipt for the donation.
A specified gift in your will is known as a charitable bequest. This is one of the simplest ways to make a gift to St. Joseph’s Hospital Foundation. It can be a certain sum of money, specific asset(s), or part of an estate. Some benefits of a bequest to the Foundation include tax savings in the year of your passing and no reduction on your present income or savings.