Make the gift of a lifetime to your community by leaving a bequest or legacy
We’re happy to answer questions about gift types, fund options and tax implications. With our extensive knowledge of the community, we can help you identify the best way to support the causes you care about.
There are also ways to give to Cortes Island Community Foundation at a later date. Check out the Vancouver Foundation’s Donation Calculator to learn about tax savings by donation from your estate.
Take the next steps:
- Discuss your plans with your financial and legal advisors to ensure that you will benefit from maximum tax advantages. This could include the option of naming a charity as a beneficiary of your RRSP, RRIF or TFSA.
- Discuss your plans with your family. This will make your future wishes clear and more likely to be implemented without challenge, and it involves your partner, children, grandchildren or other beneficiaries in your philanthropic goals.
- Update your will. A well-prepared, up-to-date will is essential to making your wishes known so that your legacy is exactly what you want it to be.
Leave a bequest to the Cortes Island Community Foundation in your Will. You will receive an official receipt for income tax purposes to your estate when it receives the bequest. Bequests can be a specific dollar amount or a residual gift (the entire residue or portion of your estate). Bequests can be given either outright or as a contingent gift. We can provide you with a document with sample clauses for your Will that your lawyer can use as a guide.
By naming the Cortes Island Community Foundation as the owner and beneficiary or irrevocable beneficiary of your life insurance policy, you can provide a sizeable future gift to the Foundation at an affordable current cost, without reducing what you give to family and friends through your estate. The CICF will be able to provide you with an official receipt for income tax purposes for the amount of premium you pay each year.
By naming the Cortes Island Community Foundation as the beneficiary of your Registered Retirement Savings Plan, Registered Retirement Income Fund or Tax Free Savings Account, you will make a significant donation to the work of the Foundation, while saving your Estate from paying probate tax on the proceeds.