
Wills & Bequests Gifts by Will are becoming more popular as an increasing number of people include Regesh Family & Child Services as a beneficiary. It's one way to support Regesh when it might not be financially possible during your working or retirement years. A bequest is a revocable gift that can be amended at any time. Charitable gifts made in a Will are deemed made in the year of death. The charitable tax credit is therefore received by the estate and can offset any tax owing from the estate. If you are about to draft a Will or make changes to your current Will, your lawyer can include a bequest to Regesh Family & Child Services. You can leave a specific amount, a particular asset, a percentage of the value of your estate or the residue of your estate after all other bequests have been made. Gifts of Life Insurance Giving a gift of life insurance is a wonderful way to show you care. This type of gift often allows a person of modest means to make a donation much larger than they might have been able to make during his or her lifetime. Instead of contributing annually to Regesh, a donor directs funds to insurance premiums. As such you would receive a charitable receipt for each premium payment made. A gift of this type generates immediate and future tax relief for a donor and does not diminish your estate. You can transfer ownership of an existing policy to Regesh Family & Child Services. Donors considering the transfer of a life insurance policy should obtain professional advice concerning the income tax consequences of such a transfer. You can take out a new policy, making Regesh Family & Child Services the owner and/or beneficiary. If Regesh is named both the owner and beneficiary, you will receive a charitable receipt for paid premiums; if Regesh is named beneficiary only, your estate will receive a charitable receipt for the full value of the gift. For further information on a legacy gift, please contact Ed Schild, Executive Director in confidence at (416) 495-8832 or e-mail eschild@regesh.com |