Leave a Legacy
What is a Planned Gift?
A planned gift is a significant monetary gift that you plan to give now or in the future. A planned gift to Palliative Manitoba shows generosity and foresight. Few other gifts help so many people at the end of life. We understand the importance of your gift and will make sure to use it wisely.
Planned giving benefits both the giver and the receiver. To maximize these benefits, the gift should be carefully arranged with the help of both Palliative Manitoba and your financial, legal or tax advisor. This way you can determine what best suites your lifestyle, make the best use of your assets, and maximize your tax savings.
GIFTS OF LIFE INSURANCE
You can donate an existing life insurance policy to Palliative Manitoba or purchase a new policy through your insurance agent or through Charity Life Direct. Palliative Manitoba must be the owner and beneficiary in order for you to receive tax creditable premiums. Please consult with an insurance broker or your financial advisor to choose an option that works for you.
GIFTS OF SHARES AND MUTUAL FUNDS
Donating appreciated stocks or mutual funds is the most tax-effective way to make an outright gift during your lifetime or as part of a legacy gift.
Current legislation in Canada has eliminated capital gain tax on gifts of publicly traded securities, mutual funds and bonds to registered charities. A charitable tax receipt will be issued for the fair market value of the securities. No capital gains tax is owing if the asset is gifted to a public charity.
WILLS AND BEQUEST
You can make a specific bequest to Palliative Manitoba that designates a certain amount of cash or a specific item or asset you own at the time of your death. Or, you can make a residual bequest that gifts part or all of your remaining estate to Palliative Manitoba after the debts has been cleared and specific provisions have been fulfilled for family and friends.
A bequest to Palliative Manitoba is eligible for a gift receipt that can be used for a tax credit against final income tax payable, both in the year of death and in the previous year, up to a limit of 100% of your taxable income.
To include a bequest to Palliative Manitoba in your will, you should consult with a lawyer or notary experienced in estate planning. They can help you prepare a will or add a codicil to your existing will.
For more information or to arrange a meeting to discuss your intentions, please contact Lindsay Felstead at 204-889-8525 ext.221 or email email@example.com
Disclaimer: The information contained herein is general in nature and is not intended to constitute legal or tax advice. Since each individual’s financial circumstances are unique, you are advised to consult with a qualified professional advisor.