Creating your Legacy at the Father Lacombe Care Foundation

Your legacy gift can be designed to suit your needs. Below are a variety of the most commonly used gift-planning tools, as well as the benefits provided with each option.

Considering a Legacy Gift?

If you are considering a legacy gift to the Father Lacombe Care Foundation, we encourage you to seek professional financial and legal advice that takes into account your unique circumstances. We also urge you to discuss your gift with a Father Lacombe Care Foundation representative prior to finalizing the details of your gift arrangement. Call Evelyn Stewart, Director of Development, at 587-393-1353 for more information.

“Beautiful and graceful, varied and enchanting, small but approachable, butterflies lead you to the sunny side of life. And everyone deserves a little sunshine.” – Jeffrey Glassber

Gifts of Registered Assets

For many people, Registered Retirement Plans (RRSPs, RRIFs) and company sponsored pension plans may be their single biggest assets beyond their homes. The government has not yet taxed these funds and, therefore, withdrawals will be taxed. Upon death, the funds may pass only to spouses, dependent children and to charity (thanks to the corresponding charitable tax receipt) without incurring taxation. You can name the Father Lacombe Care Foundation as beneficiary of your funds and your estate will receive a tax receipt for the entire amount of the gift.

Gifts of Registered Assets

For many people, Registered Retirement Plans (RRSPs, RRIFs) and company sponsored pension plans may be their single biggest assets beyond their homes. The government has not yet taxed these funds and, therefore, withdrawals will be taxed. Upon death, the funds may pass only to spouses, dependent children and to charity (thanks to the corresponding charitable tax receipt) without incurring taxation. You can name the Father Lacombe Care Foundation as beneficiary of your funds and your estate will receive a tax receipt for the entire amount of the gift.

Benefits of gift planning tools

Type of Gift Benefit to You
Bequest Possible estate tax deduction; opportunity to make a transformational gift.
Gifts-in-Kind Tax receipt for fair market value of gift; offset or even eliminate taxable capital gains on appreciated assets by electing to receive a lower-value tax receipt
Gifts of Registered Assets Possible estate tax deduction.
Gifts of Shares No capital gains tax and receive a tax receipt for fair market value of gift.
Life Insurance Policy Income tax deduction for value of the policy when transferred; premium payments may be deducted as gifts; possible income tax and estate deductions.

Bequests

A bequest (transfer of cash, securities, or other property through a will or a living trust) to the Father Lacombe Care Foundation is a flexible, tax effective way to leave a legacy. Through your estate, you are able to make a gift that may not have been possible during your life. By naming the Father Lacombe Care Foundation to receive a gift in your will, your estate will generate tax credits that may offset any taxes payable. You can choose to leave a specific amount, a percentage of your estate, or you can designate a portion of what is left after you have made specific bequests to your family and others. By revealing now that you have included the Father Lacombe Care Foundation in your will, you are making it possible for us to recognize your generosity today. All requests for anonymity are absolutely respected.

Gifts-In-Kind

Gifts-in-kind are eligible for a tax receipt for the fair market value of the gift. You can offset or even eliminate taxable capital gains on appreciated assets by electing to receive a lower-value tax receipt.

Gifts of Shares

Gifts of publicly listed securities to the Father Lacombe Care Foundation include stocks, bond, bills and mutual funds. There is no capital gains tax on securities given to charities, and you receive a tax receipt for the market value of your gift.

  • Gifts of publicly-traded securities to the Foundation can be made as a direct transfer of funds from your account to the Foundation's brokerage account.eral policy to sell gifted shares as quickly as possible, without disturbing the market. Proceeds of the sale equal to the value at donation will be transferred to your chosen program.
  • Gifts of publicly-traded securities are eligible for a tax receipt for the fair market value of the gift as assessed at close of the market on the date of transfer or delivery.
  • It is the Father Lacombe Care Foundation’s general policy to sell gifted shares as quickly as possible, without disturbing the market. Proceeds of the sale equal to the value at donation will be transferred to your chosen program.

Wording a Will

The following will clauses are provided as examples only. We suggest that you consult the Father Lacombe Care Foundation’s Office to ensure the bequest may be fulfilled as intended.

“I give, devise and bequeath to the Father Lacombe Care Foundation (dollar amount or gift of property or portion of the residue) to be used in such manner as the Board of Trustees may direct.”

After any of the above, the following wording should be included:

“Recognizing that at some time in the future it may be found that the income from the fund cannot be usefully applied for the expressed purpose, then the income and capital may be used for any other related purpose approved by the Board of Trustees of the Father Lacombe Care Foundation which is within the general aims and objectives of the Father Lacombe Care Foundation, keeping in mind the original wishes of the donor. The receipt of the person who professes to be the proper agent of the Father Lacombe Care Foundation to receive this bequest shall be sufficient discharge therefore, and my Trustee shall be under no obligation to see that the trusts thereof are carried out. Any matching grants obtainable as a result of this bequest shall be used at the discretion of the Trustees of the Father Lacombe Care Foundation to ensure or enhance the continuance of the fund for the purposes intended.”

Need info?

For further information on a bequest to the Father Lacombe Care Foundation, call Evelyn Stewart, Director of Development, at 587-393-1353.

Need more information?

We also encourage you to consult with your tax advisor for more information on maximizing your charitable gift or visit the Canada Revenue Agency at http://www.cra-arc.gc.ca/chrts-gvng/menu-eng.html for more information. Canada Revenue Agency publishes official Interpretation Bulletins explaining the regulations of charitable giving; they are available at no cost from any CRA Tax Office. This information is general in nature and does not constitute legal or financial advice. It is not a substitute for professional advice; The Father Lacombe Care Foundation encourages you to seek professional legal, estate planning and/or financial advice before deciding upon your course of action.