One of the greatest satisfactions in making a charitable gift is the opportunity to pay tribute to someone who has touched you in a significant way. That is why commemorative gifts—in memory of someone deceased or in honour of one who is still living—are perennially popular and appropriate. Through such a gift, you may honour a relative and perpetuate your family name, or you may recognize a mentor or friend who has greatly shaped your life. At the same time, your gift expresses your own commitment to the future of your community and provides valuable support for the charitable purposes you believe in.
Living in your principal residence or enjoying property such as a cottage can be all the more satisfying if you know that when you no longer need your real estate it can become your gift to the Anglican Church of Canada for its mission, ministry and program—through your parish, the Diocese of Edmonton, General Synod, the Anglican Foundation of Canada, The Primate’s World Relief and Development Fund, the Anglican Fund for Healing and Reconciliation, or a theological college.
It is a versatile giving technique that you can tailor to your own situation. You designate the trustee (any qualified institution or individual who will administer it can act as trustee). You also designate who will receive the income, and for how long. These are important decisions, and because the trust, once established, is irrevocable, you should seek the guidance of your personal financial and legal advisors. The Diocese of Edmonton Planned Giving Officer can assist you along the way.
Perhaps you’ve never even heard of stripped bonds. Perhaps you’re already using them as a vehicle for your own investments. In either case, they may be “just the right way” for you to make a gift to the Diocese of Edmonton, to your parish, General Synod, The Anglican Foundation, or The Primate’s World Relief and Development Fund.
For most people, a Registered Retirement Savings Plan (RRSP) is the best way to accumulate funds for retirement. An RRSP lets you save taxes at the same time. Not only is the amount invested each year sheltered from taxation, but earnings on assets in the fund are not subject to tax. The tax–free compounding will make a huge difference in the amount of money you’ll be able to save for retirement.
Making charitable gifts with publicly traded securities is often better than writing cheques…
Using a life insurance policy to make a charitable gift has several advantages. For example, you can make a large gift and pay for it in installments (annual premiums). Life insurance also allows you to make a substantial gift without depleting assets intended for your heirs. Some ways to make a gift of life insurance are…