These are only some examples of legacy gifts. We strongly encourage you discuss these options with your financial planner and/or your lawyer to discover the best way to “make a difference.”
Please visit www.leavealegacy.ca for more information.
When you set up a charitable remainder trust, you make an irrevocable gift of principal, from which you receive the net income for life. You receive a donation receipt for the present value of your gift, which may be used to offset tax on associated capital gains. In addition, this portion of your estate is not subject to probate.
Creating an endowment is a wonderful way to make sure your donation makes a permanent impression on the healthcare needs of the hospital.
Gifts placed in an endowment fund are invested, with the annual income used to purchase new equipment in the area of greatest need, as determined by the Hospital and the Foundation.This is a lasting way of giving to the Woodstock Hospital Foundation, because the income from your investment is used year after year, while your endowment is closely monitored by the Foundation to optimize its growth.
The minimum amount of money required to establish a named endowment with the Woodstock Hospital Foundation is $10,000. The endowment can hold either the donor’s name, or can be named in honour of a loved one. A formal Endowment Agreement is required and may be written with the assistance of your lawyer and/or financial advisor.
A gift of residual interest is made when you decide to give to give real estate or other assets that you own to a charity. You can continue to use and enjoy the property throughout your lifetime. You will receive a charitable tax receipt for the present value of the property when the gift is made. Upon death, the charity receives the deed of the property. The gift is not subject to probate.