Planned / Legacy Giving

A Community Legacy Through the Sharing and Caring Exchange

Gift of a Charitable Bequest

The most common type of deferred planned gift is the charitable bequest. It can be as simple as a sentence or two in your will, or an attachment appended to your present will. Your bequest may specify a certain sum of money: "I give to the Caring and Sharing Exchange the sum of $______ to be used for its general purposes."

If you prefer, you may give a particular asset or a portion of the residue (assets left after providing for other beneficiaries) to the Caring and Sharing Exchange.

In consultation with the Caring and Sharing Exchange, you may designate a particular purpose for which your bequest is to be used, and you may indicate whether your bequest is to be available for immediate use or held as an endowment.

What Are the Advantages?

• Bequests made to the Caring and Sharing Exchange are eligible for tax receipts that can be used against 100% of the estate's taxable income in the year of death as well as the previous years.
• You can direct that your bequest, if sufficiently large, be used to create an endowment in which only the annual income is spent, or the income plus a percentage of the principal. This would allow your gift to go on for many years.

Gift of Life Insurance

A gift of life insurance can provide a significant future gift to the Caring and Sharing Exchange at a very modest present cost to you. You may make such a gift with either an existing policy or a new one.

If you have an existing policy, which is no longer needed for the welfare of your family or business, you can donate that policy by making the Caring and Sharing Exchange the owner and beneficiary. The Caring and Sharing Exchange will issue an immediate tax receipt for the policy's cash surrender value. You will also receive a tax receipt for any future premiums paid on that policy.

If you take out a new policy, assigning the Caring and Sharing Exchange as owner and beneficiary, you will receive an income tax receipt for the full amount of the annual premiums you pay.

What Are the Benefits?

• A gift of Life Insurance can be made for a relatively small outlay of cash.
• Premiums are tax-creditable for new policies. A gift of an existing policy earns you an immediate tax receipt for the cash value of the policy.

Gift Annuity

Some planned gifts "pay you back" by paying you income or allowing you to enjoy the use of your property even after you have given it to the Caring and Sharing Exchange.

A gift annuity provides both a gift to the Caring and Sharing Exchange and guaranteed payments for life for you, or for you and your spouse. The annuity rates, depending on your age, will normally be higher than current G.I.C. interest. Moreover, a significant portion of your annuity payments (100% in some cases) will be tax-free. Older donors will also receive a donation receipt for a portion of their contribution.

What Are the Benefits?

• All or a portion of the income is paid to you tax-free.
• Part of the original principal may be eligible for an up-front tax receipt.
• Depending on your age, the income you receive on Gift Annuities is higher than bank rates and Government Saving Bonds.

Charitable Remainder Trusts and Gifts of Residual Interest

A charitable remainder trust is a deferred giving arrangement under which you irrevocably transfer property (cash, securities or real estate) to a trustee. You retain the right to the income from the trust, either for life, or for a specified term of years, and at the end of that time, the trust principal becomes your gift to the Caring and Sharing Exchange.

A gift of residual interest gives back in a different way. You may donate your residence but retain the right to occupy it for life, or give a valued piece of artwork and continue to enjoy it during your lifetime. In each case you receive a donation receipt for the present value of the "residual interest" you have given to the Caring and Sharing Exchange.

What Are the Benefits?

• You receive an immediate tax receipt for the residual value of the donated asset.
• You receive an annual income from the assets in the Trust. In the case of a Gift of Residual Interest, you retain the use of the gift for the rest of your life.
• Gifts of appreciated property can be structured to avoid Capital Gains taxes.

For more information, e-mail us at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 613-226-6434.