A planned gift to the Fort Edmonton Foundation ensures
that your legacy will keep Edmonton's past alive!
Your planned gift to the Fort Edmonton Foundation is an
investment in the preservation of the history of Edmonton. Legacy
gifts ensure that projects of educational, historical and
interpretive value continue to be built in Fort Edmonton
Park.
Planned Giving is simply the commitment to leave a gift to the
charity of one's choice. Planned Giving isn't only for the wealthy.
Regardless of the amount of their income or assets, almost anyone
can plan a legacy gift that will support an organization they care
about. No planned gift is too small. Making provision for a planned
gift provides the donor with a strong sense of contribution and
purpose.
Your planned gift to Fort Edmonton Foundation could produce a
significant contribution, while providing you and your loved ones
with substantial tax and estate planning benefits. Although
charitable gifts can be made at any time, due to the financial
planning advantages of planned giving, it is wise to plan your
contribution now.
The Fort Edmonton Foundation highly recommends that, to
ensure that your generosity is aligned with your giving and
financial goals, you consult with legal and financial advisors
regarding your gift planning.
Planned Giving Options
Bequests are the simplest and most
common form of planned giving. More than 80 percent of planned
gifts come through bequests. There are three types of bequests:
specific bequests, in which the donor gives a specific dollar
amount or specific property, such as art, real estate, or stocks;
residual bequest, which give the charity the remainder of the
estate after taxes, expenses and other bequests; and contingent
bequests, which are contingent on another event, such as the death
of a beneficiary. Making a bequest to the Fort Edmonton Foundation
is as simple as writing your wish to make the gift into your
will.
Securities are becoming increasingly
popular as gifts to charities. This is due to Federal incentives
that were introduced in the 2006 budget. Canadians are no longer
taxed on the capital gain of securities they donate to a charity.
Not only is a gift of securities now substantially less expensive
to the donor, the net gift has a higher dollar value. Transferring
securities to a charity is a simple process, handled by the donor's
and the charity's brokers.
Life Insurance is the second most
widely used type of planned gift in Canada. There are two types of
planned gifts of life insurance. A current gift of life insurance
involves a transfer of ownership of the policy to the charity. The
donor receives a tax receipt for cash surrender value, as well as
for premiums paid after the policy is transferred. A deferred gift
of life insurance names the charity as the beneficiary of the
policy. Eventually, the estate receives a tax receipt for the
insurance proceeds
Real Estate gifts are quite common.
If you plan a gift of real estate to the Fort Edmonton Foundation,
you, or your estate, will receive a tax receipt for the fair market
value of the property at the time it is received. Donors also have
the option of retaining a life interest in real estate they donate
to a charity. This allows them to retain use of the property during
their lifetime, or for a term of years. In this situation, the
charity would issue a tax receipt based on the value of the real
estate adjusted for the donor's life expectancy.
RRSPs/RRIFs are a major component of
most donors' personal assets. Donors can make a charitable gift of
all or any portion of any retirement funds remaining at death.
Surviving spouses or beneficiaries would be permitted to maintain
an RRSP in a tax-deferred plan. If the RRSP has been converted to a
RRIF at death, the beneficiary could receive payments from it.
Gifts of RRSPs/RRIFs are an excellent option for people without a
spouse.
Annuities allow the donor to make a
lump sum to a charity in exchange for fixed lifetime annuity
payments. The charity would issue a tax receipt for the amount by
which the gift exceeds the total anticipated annuity payments as
based on life expectancy tables.
Charitable Remainder Trusts are
trusts that pay income to the donor, or beneficiaries, for life or
a set term. Upon death of the donor or beneficiaries, or at the end
of the term, the charity receives the amount that remains in the
trust. A charitable tax receipt is issued for the present value of
the future gift.
For more information on planning a gift to the Fort Edmonton
Foundation, please download the
brochure (requires
Adobe Acrobat Reader) or contact the Foundation at:
Telephone: 780.496.6977
Fax: 780.496.6979
Email: info@fortedmontonfoundation.org
Postal Address: Box 67112 Meadowlark RPO Edmonton
AB T5R 5Y3