Planned Giving
Leave a gift in your will to create a legacy of impact for children
Leaving a gift in your will is a powerful way to extend your love and care for children and families into the future. Through your legacy, you’ll help ensure every child has the chance to grow up safe, supported and surrounded by love—rooted in the Catholic values of compassion, faith and family.
Whether you choose to make a gift through your will, life insurance or investments, your generosity will make a lasting difference—preserving your values, providing for your family, and helping children and families create brighter futures for generations to come.
We can help you understand planned giving options
If you have questions about what type of gift best fits your philanthropic goals, please contact our Director of Development Lianne Black at [email protected] or 437-232-9057. Our team will be happy to work with you and your family. Before making decisions concerning a gift in your will, the Foundation recommends seeking professional advice from your lawyer or financial advisor.
Leave a gift in your will to help Toronto children and families
Once you’ve provided for your family and friends in your will, consider taking care of the wellbeing of children. Leaving a gift to the Catholic Children’s Aid Foundation gift costs you nothing today but your impact can last for generations. Should you wish to increase support for your loved ones in the future, you can change your mind and update your will.
Residual bequest in a will
With a residual bequest, the Catholic Children’s Aid Foundation receives the remainder or residue of your estate after the other bequests to loved ones have been made and all debts have been paid. An example is after you have provided for your family and friends you would leave what’s left, or the residual, to help make a lasting difference in the lives of children, youth and families. This gift will be used where it is most needed. People prefer to give a residual gift as it retains its value over time to give the most benefit to areas they are passionate about.
Specific bequest in a will
With a specific bequest, your will specifies the dollar amount or a particular gift-in-kind (collections, art, jewelry, etc.) you’d like to give to the Catholic Children’s Aid Foundation. This gift will be used where it is most needed. Gifts-in-kind will be sold and the proceeds will be used to help children, youth and families in care.
Details needed for a bequest
All you need to do to leave a gift in your will is write a few sentences. Provide the following information when you meet with your lawyer to draft or update your will.
- Legal Name: The Catholic Children’s Aid Foundation
- Charitable registration number: 720484682 RR 001
- Address: 2206 Eglinton Ave. E., Scarborough, ON M1L 4S7
Sample language for a residual or specific bequest
Sample wording for a residual bequest:
“I give to the Catholic Children’s Aid Foundation all (or %) of my estate, to be used where it is needed most.”
Sample wording for a specific bequest:
“I give to the Catholic Children’s Aid Foundation the sum of $__ to be used where it is needed most.”
Leaving a planned gift through your life insurance or investments
Leaving a gift of insurance or securities to the Catholic Children’s Aid Foundation provides you with more than a charitable tax receipt. With relatively small monthly or annual contributions, donating a life insurance policy spares your gift from taxes, probate costs or estate debts. You’re making a substantial contribution to the wellbeing of young people and families in the Toronto Catholic community.
3 ways to make a gift through a life insurance policy
- You can purchase a new life insurance policy and name the Catholic Children’s Aid Foundation as the owner and beneficiary. You will receive a tax receipt for all premium payments.
- If you’re still paying premiums on an existing insurance policy, you can transfer ownership to the Catholic Children’s Aid Foundation and receive tax receipts for all future premium payments.
- You may also gift a paid-up life insurance policy by simply naming the Catholic Children’s Aid Foundation as the owner and beneficiary of the policy. You will receive an immediate tax receipt for the fair market value of the policy.
What to know about leaving a gift of stocks or securities
Donating publicly traded stocks and securities provides excellent tax benefits for you and your family when you give directly to the Catholic Children’s Aid Foundation. When you make a gift of stocks, you receive a tax receipt for the full market value, and you avoid paying any tax on the realized capital gains. The tax receipt value will reflect the fair-market value of the donated securities, based on the closing value on the day the funds were received in the Foundation’s brokerage account. The standard capital gain inclusion rate of 50% on selling shares is eliminated when you transfer the shares to the Catholic Children’s Aid Foundation rather than selling the stocks and donating the proceeds.
You may transfer publicly traded stocks and securities electronically from your brokerage account to the Catholic Children’s Aid Foundation’s brokerage account, which is maintained by CIBC Mellon.
How to give a planned gift through your RRSP or RRIF
It takes just a few minutes to leave a lasting gift through your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). By donating your RRSP or RRIF to the Catholic Children’s Aid Foundation, you’ll retain ownership of the fund during your lifetime, receive a tax receipt for the value, avoid probate fees by removing these assets from your estate, and reduce your overall estate taxes. While you don’t require assistance from lawyers or advisors, the CCAF recommends consulting a professional advisor about making a gift.
Here’s what to do:
- Request a Multiple Beneficiary Designation Form for your RRSP or RRIF from the administrator of your plan.
- Fill out the form and name the Catholic Children’s Aid Foundation as one of the beneficiaries.
- Return the form to your plan administrator knowing your gift will cost nothing now and will change lives for generations to come.
If you have named the Catholic Children’s Aid Foundation in your current will or other estate plans, please contact our Director of Development Lianne Black at [email protected] or 437-232-9057. We’d love to thank you for your generosity.