A gift in your Will is one of several gift planning alternatives available to you. We invite you to learn more about the following options that might help you achieve your philanthropic objectives:
A gift of life insurance is a simple and effective way to make a substantial future donation to Victoria Hospice by making a modest annual investment.
Naming Victoria Hospice as the beneficiary of your policy will realize tax benefits for your estate. Designating Victoria Hospice as the owner and beneficiary of your policy will result in tax credits to offset taxable income now.
Donors are often surprised to learn that retirement assets, such as RRSPs and RRIFs, must be reported as income upon one’s passing. This income is fully taxable, unless the funds are designated to a surviving spouse or dependent child.
Naming Victoria Hospice as a direct beneficiary of your retirement asset means it passes directly to us, avoiding probate fees, and triggering a tax receipt that can offset other tax owing within your estate.
Many donors choose this option to make provision for a future gift to Victoria Hospice, as it can be accomplished easily and without the assistance of a lawyer – all that is needed is a beneficiary designation form from your plan’s provider. You can elect to designate Victoria Hospice as a partial or full beneficiary, providing great flexibility to shape your legacy.
Victoria Hospice gratefully accepts gifts of real estate and personal property. You have the option to make your gift now - during your lifetime, through your Will, or by way of a ‘gift of future interest’, in which you can receive tax relief now and enjoy your property while you are living - with the knowledge that it will serve patients and families at Victoria Hospice in the future.
A charitable gift annuity is a unique way to accomplish two goals: making a gift to Victoria Hospice now, during your lifetime, and providing you with a guaranteed level of income for life or a set number of years. Often the income generated from a charitable gift annuity is largely tax-free, because there is only tax payable on the interest portion of each annuity payment received.
Victoria Hospice strongly recommends all donors consult with their professional advisors before selecting a gift planning strategy.
If you’d like further information, please call Gina at 250-519-1743 or email [email protected]. All enquiries are strictly confidential.