BEQUESTS
Leaving a gift for the CAD-ASC in your 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.
Specific Cash Amount
“I give $_____ to the Canadian Association of the Deaf-Association des Sourds du Canada.”
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.
LISTED SECURITIES
The donation of listed securities allows people to make considerable contributions to the Canadian Association of the Deaf-Association des Sourds du Canada while also receiving tax benefits. Listed securities include stocks, bonds, mutual funds, and futures. By transferring your securities to the Canadian Association of the Deaf-Association des Sourds du Canada, without first liquidating them, donors do not have to include any portion of the resulting capital gain in their income. 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:
LIFE INSURANCE
By giving through life insurance you can make a donation for a comparatively small premium, gain tax benefits, make a significant gift of funds that are considered independent of your estate, and therefore cannot be challenged, and keep your gift private and confidential. 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.
Options for giving a gift of life insurance:
• Transfer ownership of an existing, fully-paid policy
• Sign over a partially-paid policy
• Purchase a new policy and make the Canadian Association of the Deaf-Association des Sourds du Canada the owner
• Make the Canadian Association of the Deaf the beneficiary of your policy without transferring ownership
• Make your estate the beneficiary of the life insurance policy, and bequeath the amount of the policy to the Canadian Association of the Deaf-Association des Sourds du Canada in your Will
CHARITABLE REMAINDER TRUSTS (CRT)
Charitable remainder trusts provide a steady income for you, your surviving spouse, or other heirs, while still allowing you to support the Canadian Association of the Deaf-Association des Sourds du Canada. You can establish a trust that will pay a reliable income, and upon the death of the beneficiary, the capital will go the Canadian Association of the Deaf-Association des Sourds du Canada. Tax benefits for the gift can be received during your lifetime. Commonly, a tax receipt is issued for the value of the residual interest that belongs to the charity.
For more information on these and other ways in which you can contribute to the Canadian Association of the Deaf-Association des Sourds du Canada, please contact our office at:
251 Bank Street, Suite 606
Ottawa, Ontario K2P 1X3
(613) 565-2882
info@cad-asc.ca