Planning to leave a Legacy Gift in your Will is one of the most generous and gracious ways to leave a lasting impact on your community.
There are many kinds of Legacy Gifts such as simple bequests in a Will or Estate Plan, a gift of life insurance, charitable trusts, endowments and gifts of property. These deferred gifts are most often arranged when you are preparing your Will or updating financial plans.
The following information is general in nature. We encourage you to seek legal and financial advice to ensure your specific wishes are carried out and your estate enjoys the tax benefits of your generosity.
Make a specific gift to the Peretz Centre through your Will, or you may write an amendment to your existing Will, called a Codicil. In it you would indicate either a specific amount or a percentage of the Estate. When making a gift designation to the Peretz Centre, the legal name to be used is “Peretz Centre for Secular Jewish Culture”.
Insurance Polices provide an easy way to make a significant future gift without reducing the value of your estate. Have the Peretz Centre named as your owner or beneficiary of an existing or new policy. You will receive a tax receipt for the cash surrender value (if any) of the policy and further annual receipts on future payment of premiums. Alternatively, you may simply name the Peretz Centre as the beneficiary of your insurance policy and at the end of your lifetime, the proceeds are received by the Peretz Centre and a donation receipt is issued to your estate.
Charitable Remainder Trusts
With Charitable Remainder Trusts, assets (cash, securities or real estate) are transferred to an irrevocable trust with a trustee to manage the assets. You receive the income generated by the assets in trust, according to the terms set out at the time the trust is established and the capital remains intact. On termination of the trust (usually at death), the Peretz Centre receives the remaining assets. The advantage of this type of gift is that you receive an immediate tax credit for your future donation.
An Endowment is a fund which is kept in perpetuity to provide interest and dividend earnings for the benefit of the Peretz Centre. Gifts of $10,000 or more can be identified as a Named Endowment Gift that will honour you or your loved one while providing a source of income. You can designate the income produced by investing the endowment to support the Peretz Centre.
Gifts of Property
You may wish to consider giving the gift of property such as areal estate, publicly-traded stocks, RRSPs, etc. RRSP and RRIF Plans can also indicate the Peretz Centre as a beneficiary.