Planned Giving
Planned Giving Opportunities
The Planned Giving Program at Community Living – Grimsby, Lincoln and West Lincoln will allow you to leave a lasting legacy for your loved ones while contributing to the success of our mission, today and in the future with your spirit of giving. Make a significant difference while realizing your philanthropic wishes.
A number of planned giving options are outlined below.
Bequests
A bequest is one of the simplest and most flexible ways to create a lasting legacy. It is a specific provision in your will that leaves instructions on the direction of assets in your estate. A bequest may come in the form of a percentage of your estate, a cash amount, property, securities, or other assets. These types of gifts can have significant tax advantages. It is always advisable to see legal counsel to ensure your intentions are clearly defined in your will.
Life Insurance
If you name Community Living- Grimsby, Lincoln and West Lincoln as the owner and beneficiary of a new or existing life insurance policy you can make a substantial gift while providing immediate tax benefits to you, as well as tax relief for your estate. There are many ways to make a gift of life insurance. If you have an existing policy you can name Community Living - Grimsby, Lincoln and West Lincoln as the beneficiary for a percentage or for the full amount of the policy. You can also purchase a new policy which would name Community Living –Grimsby, Lincoln and West Lincoln as the owner and beneficiary of the policy or you can have a joint policy.
Residual Interest Arrangement
A gift of residual interest may be of interest to you if you would like to donate your personal property such as your home or other asset to Community Living – Grimsby, Lincoln and West Lincoln, today, while still being able to reside it in and enjoy possession throughout your lifetime while receiving tax advantages that are immediate (in most cases).
Charitable Remainder Trust
This type of trust is similar to a residual interest arrangement. In this case the gift is funded by transferring assets (such as securities, bonds, mutual funds or property) into a trust that would in turn be managed by a trustee (yourself, lawyer, financial institution or other individual). The managers of the trust provide an income to you during your lifetime. The remaining capital of the trust becomes the property of Community Living – Grimsby, Lincoln and West Lincoln upon your death. You would receive a receipt based on the net present value of the remainder interest.
Arranging your Legacy
We invite you to arrange a consultation with us to discuss how we can help you realize your philanthropic goals with compassionate giving and discuss how your objectives and ours can be considered thoughtfully. Please consult with your financial advisor or lawyer for specific advice on how some of these gifts may provide savings now and in the future.
Please call 905-563-4115 ext. 201 or email Ron Laroche at rlaroche@cl-grimsbylincoln.ca to arrange a meeting.