Embracing the Future, Ensuring excellence in Patient Care – today and tomorrow
By leaving a gift to the Humber River Hospital in your estate plan, you play a vital role in the future of people care for the Humber River community. Through planned giving you can ensure our important work continues for generations to come while at the same time providing you with tax savings and benefits.
Bequest in Your Will
A bequest – the most common type of future gift – is a commitment made through your Will to be distributed by your estate upon your death. A bequest may be a specific piece of property, sum of money, or a portion of your estate. Upon death, The Humber River Hospital Foundation will issue a donation receipt for the bequest that may result in significant tax savings in the year of death and the preceding year. Most people make a bequest when their Wills are drawn.
Gift of Life Insurance
A gift of life insurance will enable you to make a major gift through a policy you already own, or through a series of affordable premium payments. There are a number of ways to donate and plan your gift using life insurance.
- Give an already paid-up policy and receive a donation receipt for the cash value of the policy.
- Give an existing policy on which premiums are still being paid, and in return, receive a receipt for the cash value of the policy and subsequent premium payments.
- Purchase a new policy, transfer ownership to the Humber River Hospital Foundation, and receive a tax receipt for all payments on the premiums.
- Retain ownership of the policy and name the Humber River Hospital Foundation as the direct beneficiary and, when you pass away, your estate will receive a receipt for the face value of the policy.
Donation of Appreciated Securities
Recent changes to the tax laws have made it more attractive for donors to make a gift through the donation of appreciated securities, mutual funds, bonds or options because you are 100% exempt from paying capital gains tax. This is an easy and tax effective way of supporting Humber. Simply download a Securities Form 2012 and follow the instructions.
Gift of RRSP/RRIF
Gifts made through registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) are a popular way to offset taxes owing on funds at the time of death. When you name Humber River Hospital Foundation directly as beneficiary, your estate will save probate fees. Your gift is treated as a charitable donation in the year of death. You will receive a charitable receipt which will counterbalance your final tax return, transforming any final tax liabilities.
We welcome your support if you choose to donate to HRHF through a planned gift. The process is easy and should include consultation with your financial or estate planning advisor.
To discuss any one of the above options or for more information, please contact us.