Choosing the Right Planned Giving Options
As part of your long-term financial planning, a planned gift can offer you substantial tax and estate planning benefits and allow you to make a lasting gift to Ronald McDonald House. It can be a gift the House receives now, or in the future. It’s a way for you to be a key House supporter while meeting your personal financial goals.
There are several ways you can plan to make a gift to the House. The option(s) you choose depends on your unique circumstances and financial objectives.
Speak to your tax/legal/financial advisor regarding the impact of these strategies for your own circumstances.
Donations may be made in memory of a family member, friend or colleague. The bereaved family receives a special notice expressing condolences and informing them that a gift has been made to RMHC. Donors will receive a tax-deductible receipt. Consider choosing RMHC as your charity of choice when doing your long-term estate planning.
Make a gift of cash or property by including Ronald McDonald House Newfoundland and Labrador as a beneficiary in your Will. It’s one of the simplest Planned Giving options to arrange and it can significantly reduce the tax paid by your estate.
A gift-in-kind is a gift of property such as real estate, securities, artwork, jewelry or collectibles. After independent appraisals, Ronald McDonald House Newfoundland and Labrador will issue you a tax receipt. In some cases, you can receive tax benefits and continue to use the gift during your lifetime.
You can make a larger gift than you might expect possible by naming Ronald McDonald House Newfoundland and Labrador as the owner and beneficiary of a new or existing life insurance policy. The premiums you pay qualify for a tax credit. When you transfer ownership of an existing policy to the House, you receive a tax credit for the cash surrender value. A gift of life insurance is separate from your estate and has no effect on its assets.
Charitable Remainder Trust
Your gift of cash or other property is used to establish a trust. You receive the income from the trust, according to the terms set out when it is established, and a receipt for the remainder. The House will receive the remainder of the trust upon death.
Leave a Legacy
You can play a vital role in securing the future of Ronald McDonald House Newfoundland and Labrador. By leaving a charitable gift in a will, remembering loved ones through a memorial gift, or other planned giving strategies with the use of insurance, RRSPs or gifting of assets (stocks, bonds, real estate etc.), you can help Ronald McDonald House Newfoundland and Labrador in a more lasting way. Many of these strategies provide tax savings as well. For more information, please contact your tax and estate planning professional.
Further information can be found on the Leave a Legacy website: www.leavealegacy.ca