Leaving A Gift In Your Will

Leaving A Gift In Your Will

There Is One Way To Leave A Gift That Costs Nothing Within Your Lifetime

A Gift by Will or Legacy Gift is one of the most significant and lasting contributions you can make to your community. You can help ensure a future community where everyone’s potential can be realized and where everyone that needs help can access it.  Legacy giving options provide income or potential savings now and in the future.

Legacy gifts offer many features including:

  • A way to leave a gift while considering your family and personal needs
  • Typically a gift made from assets, not current income
  • Is a tax-effective way of giving

Bequest

Wills are the central pillars of estate planning. A Gift by Will, known as a bequest, provides you with the opportunity to support United Way Hastings & Prince Edward once your needs and those of your loved ones have been met.

Funds are usually bequeathed as a: 

  • A percentage of your estate
  • A specific dollar amount or an item

Benefits of making a bequest:

  • You have the use of the asset during your life
  • Reduces taxes owed by your estate
  • Revocable and can be modified by you at any time

Gift of Real Estate

When you make a gift of real estate, you donate your personal property to United Way Hastings & Prince Edward now and continue to use it for the rest of your life. You also receive an immediate tax benefit.

Benefits of a legacy gift of real estate:

  • You continue to use the property for life.
  • You receive a charitable tax receipt for the net present value of the property when the gift is made.
  • These gifts are not included in probate and provide privacy, as they are not part of your will.

If all or the majority of your estate is intended for charity, then a gift of residual interest is a way to ensure you maximize the use of your charitable tax receipts.

At the end of the term of the agreement, typically upon death, UWHPE will either sell the property or add it to its assets, depending on your agreed upon wishes.

Life Insurance

A gift of life insurance is an affordable way to make a real difference. A modest annual premium, paid over time, can result in a significant future legacy.

  • Assign UWHPE as the beneficiary of an existing policy: receive a charitable tax receipt for the net cash surrender value and any premiums paid after the donation date.
  • Donate a new policy: receive a charitable tax receipt for premiums paid after the donation date.

Benefits of a gift of life insurance:

  • Affordable annual premiums, which convert to a large gift to United Way HPE.
  • You receive a charitable tax receipt based on the way the insurance was gifted.

Gifts of life insurance are not included in probate.

Stocks and Securities

Donating publicly traded stocks and securities is a tax-smart way to support UWHPE, whether you do that now, or through your estate. You will receive a charitable tax receipt for the fair market value of the  donated security and you will not pay tax on any capital gain.

You can support the communities greatest needs or you may designate your gift to a priority that meets your   interests.

Benefits of gifts of stocks and securities:

  • The capital gain inclusion rate is zero when eligible stock or securities are donated directly to UWHPE. If you sell the shares and donate the proceeds, you will be required to pay capital gains tax.
  • The value of your charitable tax receipt will be based on the market closing price on the day that UWHPE receives your stock or securities in its brokerage account.

It is always advised to consult your own financial advisor regarding your legacy giving plans.

To further discuss your options or intent to leave a gift in your will, please contact:

Brandi Hodge, Executive Director : bhodge@unitedwayhpe.ca or

Melanie Cressman, Director Donor Relations :  mcressman@unitedwayhpe.ca

phone : 613-962-9531