How can you leave a legacy of impact?
Protect and empower children through your will, insurance or investments
Protect and empower children through your will, insurance or investments
If you believe that children and youth in care deserve safety and opportunity in childhood, please consider giving to the Catholic Children’s Aid Foundation (CCAF). Your decision to provide support through your will or investments not only demonstrates the virtues of faith, hope and charity, but your thoughtfulness can help change the course of a child’s life.
Why leave a planned gift?
Besides helping people in need more substantially than you could during your lifetime, you and your family will also benefit. Giving through your will or investments can preserve your capital, reduce taxes payable upon death and provide tax receipts.
If you have any questions about what type of gift will work best for you, please contact us at 416-395-1658. Our staff will be happy to work with you and your family to help you meet your philanthropic goals. When making decisions concerning a gift in your will, the Catholic Children’s Aid Foundation recommends you seek independent professional advice from your lawyer or financial advisor before making a gift.
Leave a gift in your will
Share your love of children by leaving a planned gift
Creating hope is as simple as signing your name to include a gift in your will. Your gift costs you nothing now, but your impact goes on for generations protecting the future of children, youth and families. Once your family and friends are provided for, please consider taking care of the well-being of children with a gift in your will. You can change your mind—and your will—if your friends and family need more support.
When you remember the Catholic Children’s Aid Foundation in your will, you make a lasting contribution to the safety and well-being of children, youth and families supported by the Catholic Children’s Aid Society of Toronto. You can include a residual or specific bequest in your will. Click below to learn more about these options.
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.
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.
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 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.”
Giving through insurance or securities
These gifts benefit you, your loved ones and children and youth in care
Donating a life insurance policy is a smart option that spares your gift from taxes, probate costs or estate debts. Plus, you’ll be making a substantial contribution to support the needs of children and youth through relatively small monthly or annual contributions. Finally, your donation will receive a charitable tax receipt.
Three ways to make a gift though 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.
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.
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.
Please contact us if you have named the Catholic Children’s Aid Foundation in your current will or other estate plans. Thank you for your generosity.