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PLANNED GIVING: A LEGACY FOR THE FUTURE
Planned gifts – also referred to as legacy gifts – are generally deferred gifts that come from accumulated assets. They allow you to make a meaningful donation that is tailored to your financial and charitable goals. A planned gift can enable you to make a more significant contribution than you thought possible. Your gift may be made during your lifetime or at death as part of your overall financial and/or estate planning. All you need is the desire to leave a legacy that will ensure the continuity of the Franciscans of Canada’s mission and contribute to the formation of our friars.
A planned gift is a demonstration of your belief in the mission of the charities you care about and want to support for generations to come. lt is a way to leave an indelible mark on our community’s future. If you wish, we can guide you through this process so that you choose the option that best suits your situation and so that you feel confident every step of the way.
There are several options for making planned gift. Here are the various options available to you:
Bequest in Your Will
A will is a simple and easy way to make a final donation to the Franciscans of Canada. Whether it is a specific amount, or a percentage of your estate or any other asset.
Your will is the final great declaration of what you valued in your lifetime. After having ensured your family’s protection and well-being, leaving a legacy gift to the Franciscans of Canada demonstrates your commitment to the Franciscans and importance you place on their mission.
The gift you include in your will today has no impact on your current lifestyle. However, it may provide tax benefits to your estate.
Two Ways to Update Your Will
- Write a new will if your lawyer or notary feels that is advisable.
- Add a codicil, which is an additional document that changes provisions in your Will.
Here are two types of bequests or will gifts you can make to the Franciscans of Canada:
Specific Bequest: You may assign a specific amount of money or a specific asset.
Residual bequest: You may leave all of your estate or a specified percentage.
We recommend that you consult a professional, preferably one who is familiar with your personal situation. A lawyer, notary or financial advisor can guide you in maximizing the tax benefits of this type of donation.
If you wish, we can also guide you in this process. Do not hesitate to contact us.
Life Insurance
A small contribution can result in a big impact. Whether you name the Franciscans of Canada as beneficiary or as owner and beneficiary of a new or existing life insurance policy.
Life insurance policies are often purchased to provide money to your loved ones upon your death. The same principle can be used to benefit a charitable organization. The gift of a life insurance policy can allow you to make a significant gift upon your death, often larger than the gift you could have made during your lifetime.
There are three Ways to Make a Gift of Life Insurance
- Transfer ownership of an existing policy that is paid in full. You will receive a donation receipt for the cash surrender value as if you had made a cash gift.
- Transfer a partially paid policy. When you transfer ownership of a partially paid policy and name the Franciscans of Canada as the beneficiaries, you will receive a tax receipt for the cash surrender value at that time, as well as any subsequent premiums you pay on the policy.
- Purchase a new policy and name the Franciscans of Canada as the owners and beneficiaries. You will receive a charitable donation receipt for all the premiums you pay.
Your life insurance advisor can arrange for the necessary documentation to transfer ownership to the Franciscans and to designate them as the beneficiaries of the policy.
Your gift is not taxable and is not subject to probate fees or estate liabilities. You can make a significant end of life contribution through small monthly or annual installments.
We recommend that you consult a professional, preferably one who is familiar with your personal situation. A lawyer, notary or financial advisor can guide you in maximizing the tax benefits of this type of gift.
If you wish, we can guide you in this process. Do not hesitate to contact us.
Publicly Traded Securities
A transfer of stock or publicly traded securities is an advantageous gift for all.
Do you own any shares, mutual funds, bonds and/or any other publicly traded securities that you would like to donate to the Franciscans of Canada?
Should you choose to donate publicly traded securities to the Franciscans of Canada, you are not required to pay tax on any capital gains that result from your gift. In order to benefit from this tax credit, the securities must be transferred directly to the Franciscans of Canada rather than being sold and the funds donated after the sale.
A receipt for tax purposes will be issued, corresponding to 100% of the fair market value of the securities on the day they are transferred to the account of the Franciscans of Canada. The shares can be transferred electronically; simply download this form.
What Types of Securities May Be Donated?
- Shares
- Savings Bonds
- Mutual Funds
We recommend that you consult a professional, preferably one who is familiar with your personal situation. A lawyer, notary or financial advisor can guide you in maximizing the tax benefits of this type of donation.
If you wish, we can guide you in this process. Do not hesitate to contact us.
Planned Giving Services
To make a donation by phone or for any question, please contact us at:
Donor services at 1-833-792-2322 or by e-mail: mygift@ofmca.com
Our registration number is:
11902-3133-RR0001
One time donation
Donations with Interac
You can make a donation via Interac.
Make the transfer to:
communications@ofmca.com
Donations via Paypal
You may make a donation via our Paypal secured account. (This account accepts credit cards and Paypal account payments.)
Donations by Cheque
Make your cheque payable to Franciscans of Canada and please send it to any of our friaries or:
Franciscans of Canada
6455 av. Louis-Riel
Montreal, Quebec H1M 1P1
Please indicate your wishes on how you would like us to use your gift!
