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Thank You for Your Interest in Legacy Giving!

If now feels like the right time to plan your legacy gift to the WDMH Foundation or to share that you are a WDMH Foundation Legacy Donor, we encourage you to discuss your intent with Erin Kapcala, Manager of Major and Planned giving at 613-774-2422 ext. 6769. She will be honoured to help you find answers to your questions, and to help you plan your legacy gift to suit your wishes and your personal, financial, and tax circumstances and to discuss recognition opportunities. Your questions and any information exchanged will be held in the strictest confidence.

If you have chosen to quietly leave a legacy gift to the WDMH Foundation, thank you! We hope you realize and are proud of the incredible impact you and your legacy will make! We understand if you do not want to publicly share your gift details, but we hope you will let us know so we may thank you privately and discuss with you the special and personal impact you want for your legacy gift. Your privacy will always be respected.  

Here are ways to include the WDMH Foundation as part of your legacy!

Wills and Estates

Your Will gives you the power to decide your legacy. 

One line in your Will can do so much. Leaving a gift in your Will to the WDMH Foundation creates an incredible legacy and the official charitable income tax receipt your estate will receive may help your beneficiaries receive more. You can leave a specific amount or all or part of the residue of your estate to the WDMH Foundation. Even a gift of 5% to the WDMH Foundation can leave a lasting impact on local health care while decreasing (or eliminating) your final tax bill.

Here are some information guides about gifts in your Will: 

Make sure your wishes are honoured by having a Will.

 

To learn more about including the WDMH Foundation in your Will – and the benefits of doing so, please read our Gifts By Will Fact Sheet and bring it to your lawyer and/or financial advisor. We are always here to help too! Please reach out to Erin Kapcala, Manager of Major and Planned Giving for the WDMH Foundation at 613-774-2422 ext. 6769.

If you have already included a gift to the WDMH Foundation in your Will- thank you!

Please email Erin Kapcala or phone her at 613-774-2422 ext. 6769 to let us know of your thoughtful gift. Sharing your intentions will allow us to thank and recognize you now (publicly or privately, as you prefer), and maybe even inspire others!


Disclaimer: The above information is not intended as legal or financial planning advice. When considering any estate gift, or planned gift you should always consult your legal advisor, financial planner, your family, and the WDMH Foundation, if possible.

Life Insurance

A gift of Life Insurance is an easy way to support the WDMH Foundation.
You can list the WDMH Foundation as the beneficiary of a new or existing policy. It’s easy to do and the impact is incredible.

There are several ways to support the WDMH Foundation with a gift of life insurance: 

  • Listing the WDMH Foundation as the beneficiary of an existing policy
  • Listing the WDMH Foundation as the owner and beneficiary of an existing policy
  • Listing the WDMH Foundation as the beneficiary of a new policy
  • Listing the WDMH Foundation as the owner and beneficiary of a new policy

It’s best to discuss these options with your financial advisor, insurance broker and with us to see which is the best route for you, your financial situation, and WDMH Foundation policies.

Here is an information package about Gifts of Life Insurance. 

 


Which solution is best for you?
There are a few easy ways to make a gift of Life Insurance.


  1. Listing the WDMH Foundation as the beneficiary of an existing policy. You can list the WDMH Foundation as the beneficiary of an existing policy and maintain control over the policy. Once the gift is received, your estate will receive a charitable income tax receipt for the full amount that the Foundation received from your gift.
  2. Listing the WDMH Foundation as the owner and beneficiary of an existing policy. You can transfer an existing policy by naming the WDMH Foundation as the owner and beneficiary. If the policy is paid up, no additional premiums need be paid by you or the WDMH Foundation. The charitable income tax receipt is issued in life for the cash surrender value of the policy plus any accumulated dividends and interest at the time of the transfer. If you continue to fund future premiums, these amounts will also be eligible for a charitable income tax receipt in life.
  3. Listing the WDMH Foundation as the beneficiary of a new policy. You can list the WDMH Foundation as the beneficiary of a new policy and maintain control over the policy. Once the gift is received, your estate will receive a charitable income tax receipt for the full amount that the Foundation received from your policy. 
  4. Listing the WDMH Foundation as the owner and beneficiary of a new policy. You can also take out a new policy with the WDMH Foundation as the owner and beneficiary of the policy to receive a charitable income tax receipt in life. It is important that the Foundation is both the owner and the beneficiary. If the Foundation is not made the owner, no gift will have been made in life, and no charitable income tax receipt can be issued in life. Under this type of arrangement, each year you pay the premiums, and the Foundation issues an annual charitable income tax receipt for these premiums. The insurance proceeds will be paid directly to the WDMH Foundation upon your passing.
  5. Listing your estate as the beneficiary, and including the WDMH Foundation in your Will. It may be to your advantage to name your estate as the beneficiary of your life insurance policy, and then make a same dollar amount bequest in your Will to the WDMH Foundation. You will not receive a charitable tax receipt for any of the premiums paid during your life. However, your estate will receive a charitable income tax receipt for the full amount of the insurance proceeds.
  6. Listing the WDMH Foundation as your beneficiary on your individual or group life insurance. You can name the WDMH Foundation as a beneficiary on your individual or group life insurance. You retain ownership of the policy and can change the beneficiary designation at any time. If you are a salaried employee and have a benefit plan that has a death benefit component to it, consider naming the WDMH Foundation as the beneficiary. You will not receive a charitable tax receipt for any premiums paid during your lifetime, rather your estate would receive a charitable income tax receipt
There are a number of ways to support the WDMH Foundation with a gift of Life Insurance.
It’s best to discuss these options over with your financial advisor and insurance broker and with us to see which is the best route for you, your financial situation, and WDMH Foundation policies.

Wealth replacement life insurance giving

There is one more way to utilize life insurance in your planned giving strategy. We all have assets and wealth that we may have originally intended to bequeath to children or other beneficiaries. However, did you know that there is a way that you can ensure that those heirs still receive the value of those assets both immediately upon your passing, AND without the assets’ values going through probate?

Wealth replacement life insurance refers to the premise of purchasing a life insurance policy to replace the value of whichever asset you’d like to donate to charity during your lifetime. Then, when you pass, your heirs will receive the life insurance benefit of the same value (life insurance benefits don’t go through probate, so they’re received by the beneficiary immediately and aren’t taxed as income in your estate – so, doubly beneficial).

Questions? Contact the Foundation's Manager of Major and Planned Giving, Erin Kapcala today at 613-774-2422 ext. 6769.


Disclaimer: The above information is not intended as legal or financial planning advice. When considering any estate gift, or planned gift you should always consult your legal advisor, financial planner, your family, and the WDMH Foundation, if possible.

Gifting Shares, Securities, and Mutual Funds

If you own securities and they have grown in value, you will be taxed on their capital gains when the securities are sold.

By donating those securities directly to the WDMH Foundation you can avoid taxes and make a significant gift at the same time!

You can eliminate some or all the tax on capital gains and receive an official charitable income tax receipt for the amount at which the shares are valued when they settle into the WDMH Foundation’s account.

Securities are easy to transfer. We provide the form (Intent Form) and directions so that your broker can transfer the shares electronically from your brokerage account to that of the WDMH Foundation. 

Donors can give such gifts both during their lifetime and through their estate (Will) – depending on their circumstances and needs.

"In the last few years I have replaced most of my monthly charitable cash donations with a larger annual securities donation that reflects the income tax reductions from the charitable tax deduction and the elimination of capital gains tax that would have been payable. I make this part of my year end investment & tax review process. I have now also recognized that this approach can have any even greater impact when I die and the proceeds of my will are distributed to my beneficiaries."

John Gleed, Morrisburg Resident

Read more about giving gifts of shares or securities. For any questions, contact Erin Kapcala, the WDMH Foundation's Manager of Major and Planned Giving at 613-774-2422 ext. 6769.

There is another option to give shares online. We have a CanadaHelps.org donation page, and through it, you have the option to fill out an online form and then authorize your broker to either give it all to one charity, or you can even split your securities gift across multiple charities with no extra cost or paperwork.

Disclaimer: The above information is not intended as legal or financial planning advice. When considering any estate gift, or planned gift you should always consult your legal advisor, financial planner, your family, and the WDMH Foundation, if possible.

RRSPs and RRIFs

RRSP and RRIFs are tax deferred investments, but the entire amount will eventually become taxable, either during your lifetime or by your estate (although spouses and dependent children are eligible as tax deferred beneficiaries).

This can result in the loss of nearly half of these assets to taxes. But by naming the WDMH Foundation as one of the beneficiaries of your registered funds, you will leave a generous gift that will have future impact on local health care, and your estate will benefit from the official charitable income tax receipt.

How Does it Work?

1. You can name the WDMH Foundation as the direct beneficiary to all or part of your investment. Upon your passing, the proceeds will be paid directly to the WDMH Foundation.

 2. You can name your estate as the beneficiary of your RRSP, RRIF or TFSA and leave instructions in your Will to donate all or part to the WDMH Foundation. You may specify a percentage of the investment to be gifted or a specific dollar amount. Your estate will receive a charitable income tax receipt – which can help offset your taxes for the year of your passing and the previous year.

 Donating registered assets such as a Registered Retirement Savings Plan (RRSP), a Registered Retirement Income Fund (RRIF) or a Tax Free Savings Account (TFSA) allows you to create a legacy for the WDMH Foundation – once your needs and those of your loved ones have been met and your estate will receive a charitable income tax receipt to help offset your taxes.

For more information, please read our package on Gifts of RRSP, RRIF and Shares.

Have questions? Contact Erin Kapcala, the Foundation's Manager of Major and Planned Giving by phone at 613-774-2422 x 6769.

Disclaimer: The above information is not intended as legal or financial planning advice. When considering any estate gift, or planned gift you should always consult your legal advisor, financial planner, your family, and the WDMH Foundation, if possible.