Types of planned gifts
The most common legacy gift, a charitable bequest is a donation made through your Will. A bequest in your Will can create a lasting legacy to continue your tradition of annual gifts.
- Give cash, an asset or a share of whatever remains after estate expenses and other bequests are paid from the estate.
- Set up a trust that pays income to a loved one for life with a gift of the remainder to the Society.
- Make your gift contingent — payable only if your other beneficiaries do not survive you.
Including a gift in your Will is one of the easiest ways to plan a gift to the Alzheimer Society of B.C. We have prepared sample Will wording for use by the lawyer or notary who drafts your Will. If you plan to establish an endowment or to place any restrictions on your gift, please contact us before finalizing your Will to ensure that the Society can accommodate your wishes.
The Province of B.C. has declared April 10-16 as Make-a-Will Week to encourage people to write a will or revise an existing will. According to a 2014 report for BC Notaries, just 55 per cent of British Columbians have a signed, legally valid, up-to-date will. A will ensures that the people and organizations you cherish most receive the benefit of your estate. Read more about the importance of having a valid will here.
You can plan a generous gift and receive tax benefits now or in the future. For example, you can:
- Designate the Alzheimer Society of B.C. as a beneficiary on a policy you own. The Society will receive a future gift and your estate will receive a tax benefit.
- Transfer ownership of a new or existing policy to the Alzheimer Society of B.C. The Society will receive a future payout from the policy and you will receive tax benefits during your lifetime.
Sean Oliver, Division Director, Investors Group Financial Services Inc. explains how you can increase the financial impact of your monthly donations by converting them into insurance premium payments. Please read here.
Frank Malinka (BCom, CLU, ChFC) of Malinka Financial explains the benefits and ease of leaving a charitable legacy by using life insurance. Read more here. The Alzheimer Society of B.C. thanks its supporters for their generous contributions of time and expertise. Company mentions are not endorsements.
Annuities allow mature donors to make a significant gift and still have enough income to live comfortably. They offer a rate of return higher than GICs and term deposits, without increased investment risk, and without the need to make ongoing investment decisions.
If you find these advantages appealing and you are interested in making a donation to the Alzheimer Society of B.C., combining a charitable gift with an annuity might work well for you.
For information about donating publicly traded securities, go to our Securities section.
One of the easiest ways to help people living with Alzheimer’s disease and other dementias is to designate the Alzheimer Society of B.C. as a beneficiary of your RRSP or RRIF. This valuable future gift to the Society will offset income tax that your estate or your spouse’s estate will eventually pay on these assets.
When you create an endowment, the principal amount of your gift is invested and only the income can be used for our vital programs. With this type of gift that continues to give year after year, you offer a perpetual source of hope for those living with Alzheimer’s disease and other dementias. Various tax benefits apply, depending on the way the donation is made.
You can be confident that your gift will improve lives, and that its value will be maximized over time by a respected investment management group, guided by the policies of the Alzheimer Society of B.C.
Charitable remainder trusts and gifts of residual interest allow donors to receive an immediate tax benefit and continue to enjoy the benefit of their property during their lifetimes. These gifts often appeal to mature donors who would like to continue receiving an income from their assets or enjoying their property, and are interested in reducing the amount of income tax they pay.
Note: The information on this page can help facilitate discussions between you and your estate planning advisor. It is not intended as legal or tax advice. We encourage you to seek advice from a qualified professional.
For more information, contact:
Leona Gonczy, PFP
Gift Planning Officer
Marilyn Kernahan, CFP
Gift Planning Officer
Last Updated: 11/30/16