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HomeLegacy Giving

Legacy Giving

Wills and bequests

A bequest through a will is simple and straightforward. By including Brock House Society in your will, you can create a lasting legacy to perpetuate your tradition of annual gifts to support your community. Gifts of a specific cash amount or asset or a percentage of the remaining estate are popular bequest choices. Your estate receives a donation receipt for the value of your gift, providing a tax credit to reduce tax otherwise payable on your final tax return.

Please click here to view sample will clauses to be used for discussion purposes with your lawyer or notary in preparation of your will. Unless otherwise directed specifically by the donor, Brock House Society places all gifts received by bequests where it is needed the most.

Gifts of real estate and personal property

You can donate properties such as personal residences, vacation homes, jewelry or shares in privately held corporations to Brock House Society. These could be an outright gift or a gift of residual interest. Both types of gift have unique tax advantages. As an example, you may decide to transfer your residence to Brock House Society now but continue to use it during your lifetime.

Gifts of RRSPs, RRIFs, TFSAs and retirement plans

You can transform tax liabilities into a charitable gift by simply naming Brock House Society as the beneficiary of your RRSP, RRIF, TFSA or pension plan. This arrangement also means that no probate fees are payable on these assets.

Charitable remainder trust

You can make a significant future gift by transferring assets into an irrevocable trust. Under the terms of the trust you can continue to enjoy the income for your lifetime or a specific duration. Brock House Society would receive the remaining assets upon your passing. You will also receive an immediate tax credit as a result of a donation receipt issued on set-up of the trust. The donation receipt represents the present value of the remainder trust to be received by BHS at a future time.

Donor advised funds

Donor advised (preventative services) funds are individual “named” funds established to facilitate gifts to be held for a longer term to ensure increased, permanent funding is available for BHS programs and services.

Through an agreement with BHS, you make a substantial, irrevocable gift – usually cash or securities – to establish a capital base that is then invested with Brock House Society’s investment manager. You receive a donation receipt for this initial gift.

Distributions from the fund are then made on an annual basis based on BHS’s established policies and our agreement with you. The BHS programs that these distributions fund can be set out in the original agreement, through annual consultations or can be unspecified and used for general BHS purposes.

A donor advised fund can allow continued donor input into the distribution of their gift, including distribution of all or a portion of the capital base at a future date.

FAQ

Please click here for frequently asked questions in regards to Legacy Giving.

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