Gift of Registered Assets
Make a commitment today to a gift that will become tangible tomorrow.
Naming Royal University Hospital Foundation as the beneficiary of an RRSP or RRIF is another powerful promise – one that does not require you to change your Will. And you can accomplish it while ensuring you and your spouse are looked after during your lifetimes.
The Advantage
If you die without a surviving spouse or qualifying dependants, the full remaining value of your RRSP or RRIF is added to your income in the year of death. That means your estate must pay taxes on the entire amount of your RRSP or RRIF ... which often means the government gets a bigger slice of your life savings than you may want.
By making RUH Foundation a beneficiary of your RRSP or RRIF, your estate receives a charitable tax receipt for the full value of the RRSP or RRIF gift. This tax credit offsets the overall tax payable by your estate. The end result? More of your life savings go to building a legacy of care at RUH.
Planning Tip: When transferring assets, especially those that have appreciated in value, talk to your financial planner, tax specialist or other counsel about the tax implications.
For more information on planning your gift, please contact Bruce Acton, Director of Development, at 655-1984.
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