Planned gifts are usually larger and more lasting gifts that you promise to make at a future point in time. They enable donors to leave a personal legacy to the Foundation while protecting their own income security in the years ahead. They also provide significant advantages for estate planning purposes, such as minimizing the amount of tax that will be payable on your final estate tax return.
Leaving a meaningful legacy
Estate planning is important for you and your heirs. Your will is a testament to your beliefs and represents your legacy. Knowing in advance that your family will be provided for and that your estate will benefit the organizations that you support provides you with piece of mind.
Think of the Foundation as an additional child who will benefit from the legacy of care that your gift will support.
Lady Grey Society
You are invited to join the Lady Grey Society by notifying the Foundation of your intention to make a planned gift. The benefits of membership include a life-long association with the Royal Ottawa Mental Health Centre or the uOttawa Institute of Mental Health Research, a subscription to Open Mind newsletter, invitations to annual events, and a specific annual recognition listing. Members are also invited to participate in exclusive events and have the opportunity to meet other supporters who share a commitment to the issue of mental health. Members of the Lady Grey Society may remain anonymous at their request.
A gift of life insurance is a wonderful way to make a significant contribution and can involve assigning the Foundation as the owner and beneficiary of an existing policy or taking out a new policy. Either way, you can receive a tax credit today for the premiums you pay.
A named endowment fund can be an excellent way to ensure your gift will continue to support the Foundation over time. Establish an endowment in your name or in tribute to someone close to you with a minimum contribution of $25,000.
By designating the Foundation as the beneficiary of your RRSP/RRIF you may also reduce your estate’s provincial estate or probate tax.
A will is the cornerstone of estate planning, and remembering the Royal Ottawa Foundation for Mental Health in your will is an excellent planned gift. Bequests can be made for general priorities or specific clinical or research purposes.
Gifts that give back to you
A number of planned giving options exist for individuals who wish to make a significant gift now in order to realize the tax advantages immediately, but who also wish to continue benefiting for life from the asset.
Certain types of planned gifts allow you to make a gift of assets such as investments or property – and enjoy the use of those assets for the rest of your life.
Examples of gifts that give back include:
- Charitable Gift Annuity
- Charitable Remainder Trust
- Gifts of Residual Interest