Gifts for Tomorrow
Gifts made as part of your overall financial plan — which often benefit you now and Vancouver College later — are known as “planned gifts.” Planned giving allows you to provide future support for the areas and programs at Vancouver College of greatest importance to you — and often make a larger gift than you might have thought possible. These gifts are a statement of one’s values and beliefs; they are an extension of one’s self and of how one wishes to be remembered.
Planned gifts can offer the following benefits:
- Provide lifetime income for you and, if you wish, another beneficiary.
- Give you immediate tax relief.
- Enable you to turn low-yielding assets into a higher income stream.
- Reduce estate taxes.
- Ultimately provide a meaningful legacy to VC.
- Grant membership to the Finnegan Society, which honours all Vancouver College community members who have made a bequest or other planned gift to VC.
- Thoughtfully prepared gifts such as a bequest or life insurance can significantly transform Vancouver College’s future. Below are some common planned gift vehicles for your consideration.
This gift, made through your will, is the most common type of planned gift. Arranged today, a bequest is not paid to Vancouver College until after your death. You can give a specific sum, property, or a percentage of your estate.
A gift of life insurance is a simple and thoughtful way to make a gift to Vancouver College. Insurance allows you to make a modest gift now for a significant gift in the future.
RRSP AND RRIF FUNDS
Naming VC as a beneficiary of your RRSPs and RRIFs means all or a portion of these assets can now be left directly to VC upon your death without having to pass through your estate. This arrangement means that no probate fees are payable on these assets. In most cases, the taxes owing on your donated RRSPs or RRIFs at death are offset by the charitable tax credits generated by your donation. Donations of this type are a great way to reduce the substantial deferred tax burden that many RRSP and RRIF plans carry.
For more information, please email Ronith Cogswell, Director of Advancement, or call 604-261-4285 (269)
Disclaimer: The information provided above is general in nature and is not intended to constitute legal advise. Since each individual's financial circumstances are unique, consultation with a qualified professional advisor is recommended.