Wills & Bequests
Gifts by Will are the most popular (and simple) vehicle for planned gifts. By designating Moorelands as a beneficiary in your will, you can support us in a way that might not have been financially possible during your working or retirement years. A bequest is a revocable gift that can be amended at any time. Charitable gifts made in a Will are deemed made in the year of death. The charitable tax credit is therefore received by the estate and can offset any tax owing from the estate.
If you are about to draft a Will or make changes to your current Will, your lawyer can include a bequest to Moorelands Community Services. You can leave a specific amount, a particular asset, a percentage of the value of your estate or the residue of your estate after all other bequests have been made.
Gifts of Life Insurance
Giving a gift of life insurance is a wonderful way to show you care. This type of gift often allows a person of modest means to make a donation much larger than they might have been able to make during his or her lifetime. Instead of contributing annually to Moorelands, a donor directs funds to insurance premiums on a policy in Moorelands name. As such you would receive a charitable receipt for each premium payment made. A gift of this type generates immediate and future tax relief for a donor and does not diminish your estate.
You can transfer ownership of an existing policy to Moorelands. Donors considering the transfer of a life insurance policy should obtain professional advice concerning the income tax consequences of such a transfer.
You can take out a new policy, making Moorelands Community Services the owner and/or beneficiary. If Moorelands is named both the owner and beneficiary, you will receive a charitable receipt for paid premiums; if Moorelands is named beneficiary only, your estate will receive a charitable receipt for the full value of the gift.
Other, more complex legacy gift options include:
- Charitable Gift Annuities
- Gifts of Shares and Securities
- Charitable Remainder Trusts
- Gifts of Real Estate
- RRSPs or RRIFs
For further information on a legacy gift, please contact Maureen Lewis in confidence at (416) 466-9987 ext. 307 or e-mail email@example.com