what is legacy giving?
Legacy Giving generally involves planning gifts that will benefit the congregation in the future. Such gifts can allow you to make a substantial, long -term financial contribution independent of your current financial needs. The two principal types of legacy gifts are 1) bequests (gifts by will) and 2) beneficiary designations. Talk to us about other possible types.
Bequests can be for a specific amount of money and/or specific assets, all or a fraction of what remains after other obligations are met, or contingent on other conditions being met, such as the prior death of other beneficiaries.
Beneficiary designations (naming the congregation as a beneficiary) can be done for a life insurance policy, or other accounts* such as an RRSP or RRIF or TFSA.
* If you are a Quebec resident, such designations must be done in your will.
Bequests can be for a specific amount of money and/or specific assets, all or a fraction of what remains after other obligations are met, or contingent on other conditions being met, such as the prior death of other beneficiaries.
Beneficiary designations (naming the congregation as a beneficiary) can be done for a life insurance policy, or other accounts* such as an RRSP or RRIF or TFSA.
* If you are a Quebec resident, such designations must be done in your will.
the benefits of legacy givingLegacy gifts:
* Certain types of gifts not covered in this brochure can provide tax benefits during your lifetime. |
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tips on legacy givingSome important things to consider in your planning are:
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