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Planned Giving
The Ultimate Gift
It is one of the most endearing and enduring aspects of human nature to help others. To know that you can create a lasting legacy that will reflect your values and concern for the generations who follow is the ultimate gift.
Estate planning is the process of creating formal arrangements to ensure that your assets are distributed to your beneficiaries.
Gifts for the future include:
• Gift in your will (a bequest)
• Insured annuity
• Registered Retirement Income Fund
• Life Insurance
• Charitable Remainder Trust
• Residual Interest
All gifts for the future will ensure that your life will mean something for generations to come. A lawyer or estate planner can explain which option is best for you and your family.
Planned giving provides you the opportunity to arrange support of your favourite charity. Our hope is that your favourite charity will be Twin Oaks Hospital and The Birches Home for Special Care.
Example:
Mary Smith has 3 adult children. Through her will, she wishes to remember her children but also leave a gift to charity. Her estate, including investments, property and life insurance is valued at $500,000 after tax/expenses. Instead of her estate being divided among her 3 adult children, she decides to leave it 4 ways, including the “charity child” giving each $125,000. While each child’s share is reduced, the tax credit resulting from the gift to the “charity child” will help to offset the difference.
If you are interested in more information about Planned Giving, arrange an appointment with your lawyer, accountant or estate planner. Make your wishes known now.