Planned Giving
Planned giving allows you to:
- Take advantage of tax breaks
- Leave a legacy, enriching lives by ensuring Cole Harbour Heritage sites are maintained
- Provide continuing support for the Cole Harbour Rural Heritage Farm Museum
- Take into account your financial needs at every stage of your life
Opportunities for planned giving include:
- Regular cash gifts
- Appreciated assets (i.e. stocks, bonds, real estate)
- Interest-free Loan
- Legacy through a Will
- Lifetime Income to the donor, with Lump Sum to Cole Harbour Rural Heritage Society, the Farm Museum or the Meeting House.
- Lifetime Guaranteed Income to the donor through a Prescribed Annuity
- Life Insurance Policy, which may be either a Present or Deferred Gift
A charitable Reminder Trust allows you to:
- Take immediate advantage of a tax receipt for the present value of the Trust (determined by life expectancy tables and Revenue Canada's prescribed rate of interest)
- Receive a regular income generated by the trust
- Name a particular aspect of the Society's activities as the irrevocable recipient of the Trust, ensuring that your support will be continue beyond your lifetime
If you do not have a Will, your estate will be distributed according to government legislation.
A properly prepared Will:
- Ensures your wishes are followed in the distribution of your estate
- Spares your family anxiety and frustration in settling your affairs
- Saves unnecessary estate taxes
- Allows you to continue to support the Cole Harbour Rural Heritage Society through a Bequest.
A Bequest in your Will is:
- Tax deductible
- Best stated as a percentage of the estate, rather than as a dollar value
A gift Annuity gives you the benefit of:
- Guaranteed, fixed-rate income for life, or for the life of your spouse
- Payments which, in most cases are larger than what might be available through other investments
- Partly or completely tax free income
When considering an annuity, remember that payments are:
- Determined on the basis of your age (and your spouse's if applicable) and the size of donation
- Not affected by interest rates or other fluctuating economic conditions
Some things to Consider:
- Take advantage of the options most suitable to your situation
- Obtain third-party advice from your current advisors such as lawyers, accountants, and financial advisors who are already familiar with your personal situation
- Discuss with family members and/or trusted advisors to avoid future conflicts
If you would like more information please eMail us.