Choosing the Right Planned Giving Options
As part of your long-term financial planning, a planned gift can offer you substantial tax and estate planning benefits and allow you to make a lasting gift to Ronald McDonald House Charities Manitoba (RMHC Manitoba). It can be a gift RMHC Manitoba receives now, or in the future. It's a way for you to be a key RMHC Manitoba supporter while meeting your personal financial goals.
There are several ways you can plan to make a gift to RMHC Manitoba. The option(s) you choose depends on your unique circumstances and financial objectives.
Speak to your tax/legal/financial advisor regarding the impact of these strategies for your own circumstances.
Make a gift of cash or property by including RMHC Manitoba as a beneficiary in your Will. It's one of the simplest Planned Giving options to arrange and it can significantly reduce the tax paid by your estate.
A gift-in-kind is a gift of property such as real estate, securities, artwork, jewellery or collectibles. After independent appraisals, RMHC Manitoba will issue you a tax receipt. In some cases, you can receive tax benefits and continue to use the gift during your lifetime.
You can make a larger gift than you might expect possible by naming RMHC Manitoba as the owner and beneficiary of a new or existing life insurance policy. The premiums you pay qualify for a tax credit. When you transfer ownership of an existing policy to the House, you receive a tax credit for the cash surrender value. A gift of life insurance is separate from your estate and has no effect on its assets.
Charitable Remainder Trust
Your gift of cash or other property is used to establish a trust. You receive the income from the trust, according to the terms set out when it is established, and a receipt for the remainder. The House will receive the remainder of the trust upon death.
Leave a Legacy
You can play a vital role in securing the future of RMHC Manitoba. By leaving a charitable gift in a will, remembering loved ones through a memorial gift, or other planned giving strategies with the use of insurance, RRSPs or gifting of assets (stocks, bonds, real estate etc.), you can help RMHC Manitoba in a more lasting way. Many of these strategies provide tax savings as well. For more information, please contact your tax and estate planning professional.
Further information can be found on the Leave a Legacy website: www.leavealegacy.ca