PLANNED AND LEGACY GIVING

A planned gift allows you to make provisions in your financial planning for Oxford House through a gift or bequest, life insurance, stocks/bonds or trust agreement.

BEQUESTS

A charitable bequest is simply a distribution from your estate to a charitable organization through your last will and testament. There are a few types of charitable bequests, for example:

• General Bequests are legacies left to certain people or causes that come from the general value of the estate, and are made by designating a specific dollar amount, a particular asset or a fixed percentage of your estate to the cause of your choice.

• Specific Bequests are made when a particular item or property is bequeathed for a designated purpose.

• Residuary Bequests are made when you intend to leave the residue portion (any left over property) of your assets after other terms of the will have been satisfied.

• Contingency Bequests allow you to leave a portion of your estate to a particular charity if your named beneficiary does not survive you.

GIFTS OF INSURANCE

A gift of life insurance is made when you name a charitable organization of your choice as the beneficiary. This means that you control the policy, and the organization would receive the insurance proceeds upon death.

GIFTING LISTED SECURITIES

A cash or security gift is an amount made out to a charitable organization of your choice. Gifts of cash are available for immediate use in the form of cash, cheque, credit card, or pre-authorized contributions paid monthly. They can also be given in the form of a general bequest in your will and testament.

GIFTING RETIREMENT FUNDS

Gifts of retirement plans are made when you name a charitable organization of your choice as the beneficiary. This means that upon your death the organization would receive the proceeds and you’re estate will receive a charitable receipt. This receipt will counterbalance your final tax return, transforming any final tax liabilities you have when you die into a charitable gift.

CHARITABLE GIFT ANNUITIES

A gift of annuity is made when you make a contribution of cash or other property to a charitable organization of your choice in exchange for a guaranteed lifetime income (or for a stated interval of time). It is an agreement or contract between you and your organization of choice. Upon death, the charitable organization of your choice would receive the remainder of the original contribution. Depending on the time elapsed the organization of your choice may get more or less than the original contribution. If an annuity is started when you are between the ages of 75-90 you can receive tax free income. If an annuity is started when you are between the ages of 65-74 you can receive partially tax free income. Where the income is totally tax free, you will receive a donation receipt equalling the initial amount of your contribution minus your expected annuity income.

For more information or to make a gift please contact the Development Coordinator, (403 214-2046 or info@oxfordhouse.ca).

Oxford House offers this information with the understanding that we do not render legal, accounting or other specific professional advice. We recommend that you consult your own professional advisors.