Leaving a Legacy: Gift and Estate Planning

Benefits of creating a gift in your Will? There are so many! These include:

• Increased impact: Often, a gift in your Will allows you to leave a much larger gift than would have been possible during your lifetime.
• Legacy: You can create a legacy as unique as you are by supporting a cause that’s close to your heart while ensuring your family is well taken care of.
• Tax relief: A gift in your Will is an effective way to reduce estate taxes.
• Cost effective: Creating a future gift through your Will does not affect your current financial circumstances.

Here are some of the most common ways to create a gift in your Will:

• Leave a residual bequest. This is a % amount of the remainder of your estate once your loved ones have been taken care of.
• Leave a specific dollar amount.
• Leave a contingent bequest — a share of your estate after other named beneficiaries have passed on.

In all cases, Children’s Aid Foundation of Canada strongly recommends that you seek professional advice and speak with your family and loved ones to ensure your financial goals are considered, your tax situation is reviewed, your charitable goals are fulfilled, and your planned gift is tailored to your family circumstances. A financial advisor or lawyer can help you include a gift to Children’s Aid Foundation of Canada in your Will.

You will need to provide the following information:

Legal Name: Children’s Aid Foundation of Canada
Charitable Registration Number: 108076480-RR0001
Address: 25 Spadina Road, Toronto, ON, M5R 2S9

Download Sample Wording for a Will

Do you want to establish an endowment fund at Children’s Aid Foundation of Canada to create impact in perpetuity? There is a minimum capital requirement to establish a named endowment fund. For more information, please contact Jane Durno, Director, Gift Planning at [email protected].

If you have already left a gift in your Will to Children’s Aid Foundation of Canada or intend to, thank you! Please let us know by filling out our online form or downloading the below PDF (and sending it to [email protected]) so we can thank you personally and get you set up as a member of the Stand Up for Kids Legacy Society. We will respect your privacy and confidentiality.

Complete the online form

Download PDF

Donating a life insurance policy isn’t subject to taxes, probate costs or estate debts, and you can make a substantial contribution through relatively small monthly or yearly payments. The insurance benefit will eventually be paid directly to Children’s Aid Foundation of Canada. And you’ll receive a charitable tax receipt that can be used in your lifetime, or for your estate.

Ways to donate life insurance:

• Name Children’s Aid Foundation of Canada as the beneficiary of an existing policy. This is a good option if you already have a policy that your family no longer needs for financial stability. Your estate receives a tax receipt for the proceeds of the policy.
• Take out a new policy naming Children’s Aid Foundation of Canada as the beneficiary. You’ll receive a charitable tax receipt for the cash value of the policy, and you’ll receive annual tax receipts for your ongoing premium payments.
• Transfer ownership of an existing policy to Children’s Aid Foundation of Canada and receive a charitable tax receipt for the cash value of the policy. If you owe annual premiums on the policy, you’ll still pay them, but you’ll also receive tax receipts in the amount of your payments.
• Transfer ownership of a partially paid-up policy with Children’s Aid Foundation of Canada named as the beneficiary. You will get a tax receipt for the fair market value of the policy and annual tax receipts for your ongoing premium payments.

To make a gift of life insurance, contact Jane Durno at [email protected] and your insurance provider to transfer ownership of a policy, create a new policy or change the policy beneficiary to Children’s Aid Foundation of Canada.