Bequests and Planned Gifts: You Can Create a Legacy of Hope and Healing
Planned Giving offers you a variety of opportunities to make a lasting contribution to the future of patient care at the Grace Hospital. When you choose to leave a planned gift to the Grace Hospital Foundation you are supporting quality patient care and inspiring hope for future patients, while realizing special tax and other financial benefits. A bequest in support of healthcare is a gift to the entire community.
What is Legacy Giving?
Legacy giving is a planned gift, most often made through a bequest in your will, and provides the opportunity to secure your legacy. At Grace Hospital Foundation, we believe you should take as much care in deciding how to share your assets as you did in building them. By reflecting on your personal philanthropic goals, including tax considerations and family needs, you can determine the best way to leave your legacy.
Various opportunities are available as options for you to leave your legacy, including:
– A bequest in your Will for a specific amount or portion of your estate
– Life Insurance: Naming the Grace Hospital Foundation as the beneficiary
– RSP, RIF, Tax Free Savings Account
– Donating Stocks and other securities
Your donation may be made outright, providing the vital funds for immediate use, or it may be planned now for receipt by the Grace Hospital Foundation at a future date. When you make a meaningful gift to a charity you believe in, you’re ensuring that their good work continues into the future.
The benefit of legacy giving is that your income today is not affected but you know your generosity will have a lasting impact on the future for many people. Your legacy gift can also provide substantial tax savings for your estate. We recommend that you seek professional legal, estate planning or financial advice to assist you to establish a planned gift that will meet your philanthropic interests.
Gifts of Securities
By gifting listed securities intact, the capital gain is eliminated and your tax receipt is for the full fair market value of the property. Listed securities are exchange listed stocks and bonds, mutual funds, segregated funds, etc.
Normally, when you sell a stock, bond, or mutual fund that has increased in value since you purchased it, you are required to pay tax on 50% of that increased value. However, if you choose to donate the securities to charity, you pay no tax.
Donors considering a gift of securities should speak to an advisor with appropriate expertise to implement a strategy that achieves their objectives, and complete the Securities Transfer Form.
We are here to help with your Legacy Giving questions, however, the Grace Hospital Foundation would not presume to offer legal or financial advice. For more information contact 204-837-0375, or email firstname.lastname@example.org.