submitted by Erin Kapcala
Perhaps the simplest way of making a legacy gift is through a bequest (a gift) in your will. One line can leave such an impact! And your estate will receive a charitable income tax receipt which can help offset taxes – which could be the highest they have ever been.
You can also donate registered assets such as RRSPs, RRIFs, or TFSAs, either by listing your wishes in your will or listing the WDMH Foundation as the beneficiary of one of these investments. Gifting all or part of these investments is an effective way to reduce the taxes payable by your estate – and your estate will receive a charitable income tax receipt for the entire value of your gift.
There are a number of ways to support the WDMH Foundation with a gift of life insurance. Depending on the policy, you can use a gift of life insurance to receive a charitable income tax receipt in life or for your estate.
For gifts of securities, there is favourable tax treatment related to the taxable portion of a capital gain. If you are considering making a gift, you may want to consider a gift of appreciated securities. Anyone considering this type of gift should consult their professional advisors before proceeding. When assets are gifted, a capital gain may result. However, if you transfer shares directly to the WDMH Foundation, you don’t pay any capital gains and you’ll receive a charitable income tax receipt for the amount of what the shares are valued at when they settle into the WDMH Foundation’s account.
Whether it is a gift-in-kind, a gift of real estate, or other tangible property – we are here to help you with your decision to give. Often these assets produce little or no income in life and cause no financial hardship to donate them. In doing so, you may make a gift that is more than you thought possible, and you will receive a charitable income tax receipt to reduce your income taxes.
To learn more about legacy giving to support Winchester District Memorial Hospital and/or Dundas Manor Long-Term Care Home, please contact fellow legacy donor, Erin Kapcala – Manager of Major and Planned Giving for the WDMH Foundation at 613-292-7468 or ekapcala@wdmh.on.ca
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The information and opinions are obtained from various sources believed to be reliable, but their accuracy cannot be guaranteed. The WDMH Foundation and its employees and agents assume no responsibility for errors or omissions or for damages arising from the use of the published information and opinions. Readers are cautioned to consult their own professional advisors to determine the applicability of information and opinions in any particular circumstances.
