Society grows great when people plant trees who’s shade they know they will never sit in.
– Greek Proverb
Planned gifts encompass several different areas of charitable giving and can be funded with cash, equity, property and more.
This type of giving is an excellent way to invest in the sustainable future of our Farm. Please see the below information on some of the different types of planned gifts G.R.A.C.E. is able to facilitate.
For additional information please contact: Renee Robins
Please consult with your financial advisor, lawyers and/or family to determine if a planned gift aligns with your philanthropic and financial goals.
Most popular form of planned giving. Allows G.R.A.C.E. to receive a percentage, dollar amount or the remainder of a donor’s estate. Bequests enable donors to reduce estate taxes while supporting the farm.
Gifts of Assets with Significant Capital Gains
One half of the gain on assets with significant gains is taxed upon disposition of the asset. Upon donation of an asset like this, the Income Tax Act allows the gain on the donated asset to not be included in the donor’s income. This is very attractive to most donors who are helping a worthwhile cause while minimizing their own tax burden. Examples of assets with significant capital gains may include: stocks, real estate, cars, art, etc.
Charitable RRIF Rollover
A Charitable RRIF Rollover allows donors 70 years and older to direct funds from their traditional RRIF to a charitable fund. The Charitable RRIF Rollover counts towards the Required Minimum Distribution, the amount a person over 70 years of age must withdraw from an RRIF each year.
Charitable Gift Annuities
Through a charitable annuity, you are assured a guaranteed income for life in exchange for a transfer of assets. You’ll immediately receive a tax receipt for your donation, and the income you’ll receive in the years that follow is tax-free as well.
Donors may gift a life insurance policy that is no longer needed, or name G.R.A.C.E. as a beneficiary of an existing policy. This type of gift may provide income and estate tax savings for the donor.
Charitable Reminder Trust
Name G.R.A.C.E. in a charitable remainder trust
A charitable remainder trust produces a guaranteed income for life, along with a tax receipt upfront that you can use to offset other taxes in the current year.
Make a gift of life insurance
Through a gift of life insurance, you can make small payments today that add up to a larger gift for greater impact in the future. By working with your financial planner, you can structure a gift of life insurance in order to receive tax benefits today while G.R.A.C.E. receives a significant gift in the future. Or, you may choose to structure a gift of life insurance that will provide tax benefit to your estate in the future.
Make G.R.A.C.E. a life beneficiary. You can designate G.R.A.C.E. as a beneficiary of your Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), Tax-Free Savings Account (TFSA), or life insurance policy. By doing so, your estate will gain access to tax credits for your beneficiaries to use.
For Professional Advisors re Legacy Gifts:
G.R.A.C.E.’s legal name is: Georgian Riding Association for Challenged Equestrians
Our charitable registration number is: 133 723 924 RR0001
A codicil is legal language which can be used to include G.R.A.C.E. in your estate plans. It can be added to a new or existing Will, and it helps describe the type of gift you’d like to make.
Residual Gift: You can give a percentage of your estate, less your debts. Another way to think of a residual gift is to think of your estate like a pie, with slices going to your loved ones, debts, and charities of your choice. If you’re not certain about the total size of your estate, this is a safe solution to make sure your estate can meet all your needs.
Sample codicil: “My trustees shall deliver, pay or transfer a portion of the residue of my estate to Georgian Riding Association for Challenged Equestrians .”
Fixed Amount Gift: You can designate a fixed amount of money to be given to G.R.A.C.E. .
Sample codicil: “I give to Georgian Riding Association for Challenged Equestrians the sum of $______ to be used for its general purposes.”
If you have included a legacy gift to G.R.A.C.E. and are willing to let us know, kindly complete this [legacy gift confirmation form], or contact Renee Robins at , so we may express our appreciation and welcome you as a member of the Wicklen Legacy Society