The personal satisfaction of knowing that you are ‘making a difference’ is usually the only motivation needed for giving to your church or favourite charity; however, planned giving allows you to make the most of your gift, and may permit you to increase your overall giving while saving taxes. Planned giving must be tailored to your circumstances as it affects your financial future. You need to consider your age,
and how much money you will need to continue your lifestyle and meet family obligations.
As may be seen below, most planned gifts are irrevocable, so if planning a large commitment, make sure you will have enough money to meet your future needs and those of your family.
|Donation type||Revocable?||Receive income or have use of donation during lifetime?||When charitable tax receipt issued||When Church uses
|Cash gift||No||No||When Gift is made||When Gift is made|
|Life insurance policy – church is owner and beneficiary||Yes, by changing beneficiary||Yes||After death||After death|
|Bequest by will||Yes, by changing will||Yes||After death||After death|
|Gift of securities||No||No||When Gift is made||When securities are sold|
|General Synod Charitable Gift Annuity||No||Portion of income received tax–free based on age||Now, based on gift value adjusted for income to be paid based on annuitant’s life expectancy||Residual after death|
|Charitable Remainder Trust||No||Can use property and receive all income generated||Now, based on gift value adjusted for income to be paid based on annuitant’s life expectancy||Remainder after death|
If you have questions or want to learn more, please contact me, in confidence and without obligation, at the following:
Planned Giving Officer
The Diocese of Edmonton
10035 – 103 Street
Edmonton, AB T5J 0X5
Toll Free: 1–877–494–8890