Planned and legacy giving
For more information concerning bequests and planned gifts to Leucan, contact Laurence Courteau, provincial advisor, planned giving: laurence.courteau@leucan.qc.ca
Planning a bequest
A bequest in your will is a legacy to a cause that is close to your heart. There are different types of bequests available. It can be a specific amount, a percentage of your estate assets after the payment of debts, taxes, and specific bequests, or even the entirety of the assets of your estate. You may also name Leucan as a contingent beneficiary in the event of the death of a primary beneficiary.
To learn more about the most common forms of bequests:
Donating listed securities
You can donate your securities in lieu of a cash donation. You would save on capital gains tax in addition to benefiting from the donation tax credit.
To see an example of securities donation and the potential tax savings:
Donating your life insurance policy
Another way to give upon your passing and leave a larger legacy than it would cost you is by naming Leucan as the beneficiary of an existing or new life insurance policy. The capital donated to Leucan upon your passing is often greater than the total amount of premiums paid in your lifetime. You can decide whether you want to take advantage of a tax credit in your lifetime or would rather have the tax credit benefit your heirs.
To learn more about the types of life insurance donations:
Donating RRSPs or RRIFs
Withdrawals from an RRSP or RRIF are heavily taxed in Quebec, whether during your lifetime or at the time of passing – that is, unless the beneficiary is your spouse or the funds are donated to charity. Depending on your financial situation, it may be advantageous to consider donating part or all of the funds accumulated in your RRSP or RRIF. As a result, the donation tax credit can offset the tax withheld upon withdrawal. In fact, you could make a planned gift at the time of death without affecting the amount payable to your heirs.
