Wills and Charitable Bequests
DID YOU KNOW?
Even a gift as little as 1% can make a difference in your community.
Leaving a Gift in Your Will
Remembering the Sudbury Women’s Centre in your will is an act that is generous, powerful and surprisingly simple. It allows you to leave a larger gift than would be possible during your lifetime while still retaining control of your assets.
You can leave a piece of property, securities, cash or even a percentage of your estate. Your estate will receive a charitable tax receipt that can lower or even eliminate estate taxes. You also have the opportunity to memorialize yourself or a loved one by establishing a named endowment fund.
Leaving a gift to the Sudbury Women’s Centre in your will is simple. Talk it over with your family and loved ones, then speak to your lawyer about drafting or revisiting your will, or adding a codicil. You can also fill out our Planned Gift Info Request Form and submit it online for more information.
Be sure to inform us of your bequest and your wishes. It will give us the opportunity to thank you and, more importantly, to discuss what you hope your gift will help to accomplish. Of course, we will respect your privacy and confidentiality. Every gift in every will makes a difference.
Gifts of Securities
DID YOU KNOW?
Although we’re based in Northern Ontario, we accept donations from all over the world. So if you’re avoiding the winter in Florida, you can still make a difference.
Why Donate Securities?
When you make a gift of securities to the Sudbury Women’s Centre, you’re directly helping women in our community to thrive. By donating publicly traded securities, you eliminate the capital gains tax that you’d have to pay if you sold the securities and then donated the proceeds. You’ll also receive a charitable tax receipt for your donation.
Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares, and employee stock options. You can give now or as part of your estate and will planning.
Giving is simple. Consult your financial advisor to decide which investments make the most financial and philanthropic impact. Then ask your broker to transfer your securities to the Sudbury Women’s Centre by completing the appropriate transfer form. And finally, get in touch with us and let us know you have made your gift so that we can show our appreciation.
Gifts of Life Insurance
DID YOU KNOW?
Tax savings can apply in your lifetime, or for your estate.
Gifts of Life Insurance
When you give a new or existing life insurance policy to the Sudbury Women’s Centre, you’re turning small monthly premiums into a significant gift!
The insurance benefit will eventually be paid directly to the Sudbury Women’s Centre and is separate from your estate, so there are no administrative costs or probate fees. Your gift has no effect on your estate’s assets and you’ll receive a charitable tax receipt that can be used in your lifetime or for your estate.
Ways to donate life insurance:
- Name the Sudbury Women’s Centre as the beneficiary of a policy. Your estate receives a tax receipt for the proceeds of the policy.
- Transfer ownership of a paid-up policy with the Sudbury Women’s Centre named as the beneficiary. You can receive a current tax receipt for the fair market value of the policy or defer the tax receipt for your estate.
- Transfer ownership of a partially paid-up policy with the Sudbury Women’s Centre named as the beneficiary. You will get a tax receipt for the fair market value of the policy and annual tax receipts for your ongoing premium payments.
- Take out a new policy with the Sudbury Women’s Centre as the owner and beneficiary and receive annual tax receipts for your ongoing premium payments.
To make a gift of life insurance, contact our Gift and Estate Planning Team and your insurance provider to transfer ownership of a policy, create a new policy or change the policy beneficiary to the Sudbury Women’s Centre.
Gifts of RRSP/RRIF Funds
DID YOU KNOW?
RRSPs/RRIFs are among your most heavily taxed assets on transfer to the next generation.
Why Give RRSPs or RRIFs?
When it comes to transferring your wealth to the next generation, retirement funds are among your most heavily taxed assets. Registered assets can only be rolled over to a surviving spouse, but are taxed if they’re transferred to children or next of kin, unless a child has a disability.
Donating your RRSP or RRIF funds to the Sudbury Women’s Centre is a tax-smart and effective solution. By naming the Sudbury Women’s Centre as a beneficiary of registered plans, you’ll retain ownership and use of the fund during your lifetime, receive a tax receipt for the value of the plan, avoid probate fees by removing these assets from your estate and reduce your overall estate taxes. You can choose to donate all or a portion of your retirement funds and still provide for your family by naming more than one beneficiary.
The gift is simple to make. Just request a Change in Beneficiary form from your plan provider and name the Sudbury Women’s Centre as a beneficiary of all or a portion of the RRSP or RRIF and return the document to your provider.
Gifts of Property, Trusts, and Annuities
Other Ways to Give
Gift of Property:
Real estate, jewelry or art can be an attractive way to make a substantial gift to the Sudbury Women’s Centre with significant tax benefits. You can give the property outright, place it in trust to retain the use of it for life, or gift it by will.
Charitable Gift Annuity:
This allows you to make a gift to the Sudbury Women’s Centre while at the same time securing a guaranteed income for life. An annuity consists of two parts: a gift to the Sudbury Women’s Centre for which you receive a tax receipt and a guaranteed stream of income for you and your surviving partner.
A minimum of $50,000 is transferred to the Sudbury Women’s Centre. At least 20% is counted as an immediate donation to the Sudbury Women’s Centre for which you receive a tax receipt. The remainder is used to purchase an annuity from an insurance company providing a guaranteed income.
Charitable Remainder Trust (CRT):
A CRT is a life income gift that enables you to give today and receive immediate tax savings, while retaining use of the asset. Essentially, you transfer a property like real estate, investments or artwork into a trust to be managed by a trustee (a financial institution, a lawyer, yourself, or other individuals). You name the Sudbury Women’s Centre as the remainder beneficiary in trust and keep an interest in the property for the rest of your life. After a prescribed period of time or upon your death, the asset is transferred to the Sudbury Women’s Centre. This allows you to use the property or receive income from it during your lifetime while receiving a tax receipt you can use today.
For Lawyers and Financial Planners
For clients looking to create a meaningful legacy, your professional expertise helps them maximize their impact.
Your help and careful planning will enable them to make a much larger gift than they could during their lifetime and reduce – or even eliminate – the tax burden on their estates. We’ll help make it as simple as possible for your to carry out your clients’ wishes and explain to them their many different options.
The Sudbury Women’s Centre accepts many forms of donations including residual and specific bequests, life insurance, RRSPs and RRIFs, securities, and property.
With your help, your clients can achieve the legacy they’re looking for. Have a look at some of the resources, or contact us directly.