A gift of Retirement Savings might be the right investment for you. By naming the University Hospital Foundation as a beneficiary of retirement savings plans (either RRSP or RRIF), single individuals without dependents can easily make a generous gift in support of our mission to transform healthcare, beyond your lifetime.
Designating the University Hospital Foundation as a beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) funds is a tax-smart way to leave a lasting legacy. You’ll retain ownership of your funds now, while your estate benefits from a tax receipt for the value of your gift later. This type of gift will also help you avoid probate fees. Donate all or simply a portion – it’s up to you.
When it comes to transferring your life savings to the next generation, retirement funds are among your most heavily taxed assets. Registered assets can only be rolled over to a surviving spouse, but are taxed if they’re transferred to children or next of kin, unless a child has a disability.
The gift is simple to make and will literally save lives. Just request a Change In Beneficiary form from your plan provider and name the University Hospital Foundation as beneficiary of all or a portion of the RRSP or RRIF and return the document to your provider.
Please consult your legal and financial advisors before finalizing your decision to proceed.
The following are sample clauses but we recommend consulting with a lawyer or financial planner before including a charitable organization in your will.
Canada offers some of the most generous tax incentives for charitable giving in the world, making it easy for you to give.
When he was 43, Michael Lifeso had a heart attack. Shortly after his recovery, his lungs began to fail – eventually to the point where they stopped working. His parents, Clayton and Betty, were told their son did not have long to live.
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