Bequest –Leaving a gift for a charitable organization like the CAD-ASC in a will is an easy way of making sure the organization you wish to support will receive your gift.
The following are wording samples for your will depending on how you choose to give to the CAD-ASC.
If giving a specific cash amount: “I give $_____ to the Canadian Association of the Deaf-Association des Sourds du Canada.”
If offering a percentage gift: “I direct my trustees to pay or transfer to the Canadian Association of the Deaf-Association des Sourds du Canada___ % of my estate.”
Residual Gift: “After paying debts and other bequests I direct my trustees to pay or transfer to the Canadian Association of the Deaf-Association des Sourds du Canada the whole (or ____ %) of the residue of my estate.”
Life Insurance –Donating an existing or newly purchased life insurance policy can be a great way to support your favorite charities and avoid taxes on your proceeds. Simply name the Canadian Association of the Deaf-Association des Sourds du Canada both the owner and beneficiary of the policy. Also, it is beneficial to choose permanent insurance since it builds cash value over time, and consider benefits of accelerated funding of your insurance gift.
There are also tax benefits when choosing to offer life insurance as a gift to the CAD-ASC. You are eligible for a tax receipt for the premiums that you pay annually, and if you donate an existing policy, you receive a tax receipt for the cash-surrender value less any outstanding policy loans.
Securities and Mutual Funds –By donating your non-liquidated securities and mutual funds, you can support your favorite organizations while incurring tax benefits.
By donating the security, your capital gains tax rate is 25%, rather than the usual 50%. Additionally, for gifts of appreciated capital assets your donation claim limit of net income (75%) is increased by 25% of the taxable capital gain arising from the gift. Another advantage is that you do not pay any tax on the appreciation on the gifted assets, and a portion of the gift can be used to offset taxes on other income.
Also, Canadians can now donate their publicly traded securities without incurring the Capital Gains tax. For information, please visit the federal Department of Finance website: (http://www.fin.gc.ca/fin-eng.asp).
Charitable Remainder Trusts (CRT) –CRTs allow you to invest in the CAD-ASC while still retaining the income from your investment. The original capital donated stays in the Trust and cannot be used until you pass away. You will receive annual income by the assets generated in the Trust. You are responsible for the tax that is payable on this income, but you receive an immediate tax credit when the Trust is established.
If you require any further information or choose to support the work of the Canadian Association of the Deaf-Association des du Canada by any of the above means, please contact the CAD-ASC by phone (613-565-2882) or email (firstname.lastname@example.org).