Your will is a powerful way to care for the people you love while creating a lasting legacy with a gift that reflects your values and commitment. Gifts in wills are the most common way to leave a legacy, but did you know there are other options available?
Consider these lesser-known options for legacy giving, which may come with financial benefits, as you plan your estate.
1. Gift of life insurance: Create a new policy or transfer an existing one by naming a charity as the owner and beneficiary. The premiums you pay on the policy are considered charitable gifts and therefore eligible for a charitable gift receipt. The policy is paid directly to the charity.
2. Gift of RRSPs/RRIFs/TFSAs: Name a charity as a beneficiary on your registered savings accounts to offset estate taxes.
3. Gift of stocks and securities: Directly donate appreciated stocks or mutual funds as a bequest to eliminate capital gains tax.
4. Gifts of property trusts and annuities: Donate real estate, works of art, jewellery or other property to a charity. Please note, prior to accepting one of these gifts and issuing a charitable tax receipt, the Canadian Cancer Society requires a professional appraisal. There are also ways to make a gift of property to a charity and retain the right to use the property during your lifetime.
5. A blended gift: Combining a gift today with a gift in your will can help bridge the gap between immediate needs and long-term sustainability.
If you believe that one or more of these are right for you, a trusted financial and/or legal professional can help you design a personalized plan.
Ignite the next era of cancer breakthroughs
Just as past generations paved the way for today’s breakthroughs, your decision today can help fuel future research progress, shaping a more hopeful future for generations to come.
By including the Canadian Cancer Society in your will, you're creating a legacy of promise and generosity that can stand the test of time and change how we prevent, diagnose and treat this disease.
Help create a future without cancer
With support from readers like you, we can continue to make a meaningful impact for people affected by cancer.
We are determined to increase survival, stop cancer before it starts, and improve lives. But we can’t do it without you.
If everyone reading this gave just $5, we could achieve our goal this month to fund the most promising research, compassionate support and transformative advocacy. Please give today because every contribution counts. Thank you.