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Planned Giving

Planned giving is the process by which individuals leave a certain amount of money, a piece of property or a portion of their estate to a charity of choice. It is a means for a donor to leave a meaningful gift to a preferred charity, while making the most of tax benefits. Planning a gift – which is usually received after death – gives the donor the satisfaction of knowing their gift will go to their charity of choice, and reduces the amount of tax that your estate will have to pay.

Types of planned giving:

Bequests: are gifts left through a will. Receipts can be issued for cash bequests and gifts in kind.

Life Insurance policy: a charity can benefit by being the beneficiary of a life insurance policy. The gift to the charity is not lessened by fees and the estate is not reduced by the amount of the gift.

Gifts in kind: are gifts of real property, like stocks, bonds, art or houses. These gifts may be given, or left as part of the will or trust.

Real estate: a gift of real estate may be given for use by the charity, or to be sold with proceeds to be used as outlined by the donor in a will.

Gifts of securities: result in a tax receipt for the full amount of the securities (shares listed on most Canadian and international stock exchanges, shares of the capital stock of a Canadian public mutual fund, units of widely held Canadian mutual fund trusts and interest in related segregated fund trusts) and the donation is exempt from capital gains tax that applies to the sale of a security.

For further information contact the United Way for the City of Kawartha Lakes.