Planned giving helps you create a legacy. It can allow you to leave a gift, perhaps larger than you thought, while still providing for your family or others.
If you would like to learn more please contact Irv Wilson, Director of Planned Giving | 888-672-6510 | firstname.lastname@example.org
If you have assets or dependents and don’t have a will our best advice is to obtain one. If you have a will but have not reviewed it in a few years, read it over. Things may have changed.
Including TWR in your will continues your wishes when you no longer can act. It leaves a legacy and a testimony to your family and friends. And it is easy to do.
Please contact your Lawyer and seek advice on which assets in your estate to leave to your family and which ones to leave to charity. It might make a big difference.
A Gift Annuity lets you donate now to TWR Canada and receive back a secure guaranteed income for life that is largely tax free. This is a great option for our older donors who would like to make a larger gift but would like something in return. In this case it is an income to support their retirement.
There are many different Annuities so please consult our office or your Advisor before acting.
Donation of Securities or Investments
When you sell certain investments, see below, and make a profit you pay income tax on the profit. If you give these Investments to TWR Canada you do not pay income tax. We can sell the investments and use the proceeds for ministry. In addition, you receive a charitable tax receipt for you donation.
You should consider this if you own Investments that are not in an RRSP, RRIF or TFSA and can be bought and sold publicly such as a Mutual Fund, Stocks, Bonds or Segregated Fund.
You must consult your Advisor to make sure your Investments qualify, and your situation is appropriate.
Most of us don’t like talking about Insurance, however, it turns a small annual cost into a large tax-free payout when you die. A great investment for a Planned Gift! There are three different options to consider. You can use a policy you already own and/or start a new one.
- If you want a charitable gift receipt now you can deduct the Insurance premium as a gift and TWR receives all the Insurance tax free when you die.
- Maybe your estate will have to pay tax on a RRIF or a cottage. The Insurance policy can be set up to pay to TWR tax free and your estate receives a charitable tax receipt for that payout to lower your estate tax.
- And lastly you might want to leave some of your estate to TWR to save taxes. See our other Planned Giving tools described here! Then you can use Life Insurance to give your family tax free cash.
Please consult our office or your Advisor to arrange this.
Donation of RRSP or RRIF
You might not know that all of the money in your RRSP or RRIF is fully taxed when you die, unless you leave it to your spouse.
So if you plan to leave a gift to TWR in your estate consider giving part of your RRSP or RRIF. You will not pay tax on the portion that you give and your estate receives a charitable gift receipt to further lower taxes.
We strongly suggest you consult with us or your Advisor before acting on this information as regulations may vary from province to province and can change over time.