Remembering Grandview Kids in your will is not only generous and impactful but surprisingly simple. A bequest of a piece of property, securities, cash or a percentage of your estate provides a charitable tax receipt that can lower or in some cases eliminate estate taxes.
Every charitable gift results in a tax receipt for the estate. Because you are deemed to have disposed of all of your assets in the year of death, the reportable income for the year can be high. The charitable tax credit that your estate receives can offset any tax owing from deemed dispositions that are also realized in the year of death, i.e. capital gains and / or recapture of depreciation.
Currently your estate trustee will be able to allocate available tax credits against the taxation year of the estate in the year the donation is disbursed, any earlier taxation year of the estate or the individual’s last two taxation years before death.
Your Legacy can take several forms:
Bequests — make a gift to Grandview Children’s Foundation through your Will
Life Insurance — use an unneeded policy or create a new policy to make your donation appreciated
Securities — donate appreciated stocks, bonds or mutual funds and take advantage of the best tax benefits.
The most commonly planned gift is a charitable bequest. Making a bequest to Grandview Children’s Foundation in your Will allows you to make a gift from your estate. You can designate a specific gift amount, or contribute all or a portion of your estate. Benefits include:
Your cash resources won’t be affected while you need them during your lifetime.
The final taxes to be paid on your estate may be significantly reduced, which can be a big advantage for your heirs.
Please note, if you pass away without a Will, the government will appoint a public trustee who will decide how the assets of your estate will be distributed. Make sure your wishes are honoured by having a Will.
A gift of life insurance is a creative way to help build our long-term financial strength without diminishing your own.
You can purchase a new life insurance policy and designate Grandview Children’s Foundation the beneficiary, or make us the beneficiary of an existing life insurance policy. Benefits include:
By paying small premiums during your lifetime, you can support our Grandview Kids with a significant gift upon your death.
You’ll receive tax credits on the premiums that you pay each year.
You can donate publicly traded securities like stocks, bonds or mutual funds to Grandview Children’s Foundation either during your lifetime or in your Will.
Thanks to the federal government’s elimination of capital gains tax on gifts of publicly traded securities like stocks, bonds, or mutual funds, when you donate appreciated securities to Grandview Children’s Foundation as part of your estate plans. Donations of securities may be eligible for enhanced capital gains treatment.
You won’t have to pay any capital gains tax on appreciated securities if they are donated directly to Grandview Children’s Foundation.
You or your estate will receive tax credits that will lower income.
Setting up a trust allows you to receive immediate tax benefits.
A Charitable Remainder Trust can be established by contributing cash, securities, mutual funds or real estate to the trust. Income can be received throughout your lifetime from the trust, and upon your death the “remainder” passes directly to Grandview Children’s Foundation. No encroachment on the capital is allowed.
You receive a donation receipt for the present fair market value of the remainder interest calculated by a Revenue Canada formula which takes into account your life expectancy and the present value of the property being transferred into the trust. Valuations are required to define a value to the remainder interest.
A charitable gift annuity is a financial investment that allows you to make a gift to Grandview Children’s Foundation while at the same time receiving from that gift, a guaranteed, pre-determined annuity income for life. In Canada, the government provides for the purchase of life annuities on a special prescribed tax basis. This creates additional value for you, the donor, on an after-tax basis. You are likely to increase your disposable income because a substantial portion of your payment is tax-free.
If you are a donor with the vision to support the long-term financial health of our Foundation please contact us to discuss the possibilities or download and fill out our Gift Confirmation Form and send it to:
Grandview Children’s Foundation
600 Townline Rd. S. Oshawa, ON L1H 0C8
P: 905.728.1673 or 1.800.304.6180 ext. 2370 or
Email: Please contact for more information firstname.lastname@example.org
If you are considering a planned gift Grandview Children’s Foundation encourages you to consult with a financial or legal advisor.
Have one of our foundation members contact you to learn how you can leave a legacy for Grandview Kids.