LEGACY GIVING

What is Legacy Giving?

Legacy Giving is a vehicle that allows you to make a charitable gift that leaves a lasting legacy.  A Legacy Gift allows you to meet your philanthropic goal of leaving a long lasting gift to Fred Victor Centre, while meeting your personal and financial objectives, and lowering your income and estate taxes.  For more information on Legacy Giving please contact Mark Pusey at mpusey@fredvictor.org or 416-364-8228 ext. 303.

Legacy Giving Vehicles

There are many ways to make a Legacy Gift.  The most common types of Legacy Giving vehicles are:

Bequests

Many people would like to help strenghten the long-term viability of Fred Victor Centre but feel they cannot afford to make such a gift today.  A bequest by will is one such method available to do so.  The advantages of making a bequest are:

• It is not payable until death, so it does not affect your assets or cash flow during your lifetime.
• It is private - your will is not filed or made public until your death.
• It is revocable - you can change the provisions in your will or trust at any time until death

Charitable Gift Annuities

If you wish to make a significant charitable gift, but still require the income generated by your assets, you may want to consider a charitable gift annuity.  This gift allows you to support Fred Victor Centre now, while receiving a guaranteed annual income for life.

Gifts of Life Insurance

Life Insurance is an economical way to give a larger and more lasting gift to Fred Victor Centre than might otherwise be possible without drawing on your assets now, or depleting your estate.  If structued correctly, your gift will not be included in the value of your estate and therefore, you will avoid probate fees.

RRSPs/RRIFs

By designating Fred Victor Centre as the beneficiary of remaining RRSPs and RRIFs, the asset is transferred directly from the financial institution to Fred Victor Centre, and the estate receives a tax credit to offset the tax on income.  Since the asset passes outside the estate, no probate fees are payable, which results in further savings to the estate.

Charitable Remainder Trusts

A charitable remainder trust is a deferred giving arrangement under which you may transfer property (cash, securities, or real estate) to a trustee.  You (and/or your beneficiaries) retain the right to the income from the trust either for life or for a specified number of years.  Fred Victor Centre receives whatever remains in the trust after the specified term, or after the death of the last beneficiary.

For more information on Legacy Giving please contact Mark Pusey at mpusey@fredvictor.org or 416-364-8228 ext. 303.