Leaving a Legacy

Bequest by Will or Gift of Life Insurance

Including a charitable bequest in your will or making a gift of life insurance are simple ways to make a lasting gift and leave a legacy for the community. Making gifts of these types through the Foundation benefits the community into the future, while providing maximum tax benefits and peace of mind to donors and their loved ones.

How it works

  • To make a bequest, you include the Community Found­ation in your will; we can help you or your lawyer with sample text for this purpose.
  • Every bequest is eligible for a tax credit for estate tax purposes.
  • To make a gift of life insurance to the Foundation, you can either simply name it as beneficiary or make the Foundation the owner and irrevocable beneficiary of the policy.
  • Life insurance donors receive a tax credit for the fair market value of the policy. If the Foundation becomes the owner and irrevocable beneficiary of your policy, you will receive an immediate tax credit if it is paid up and if not, you can receive tax credits on premium payments.
  • We can work with you to determine the type of fund you would like to establish with your bequest or gift of life insurance, or our staff will consider your charitable wishes and determine the community needs that would benefit the most through grants from your fund.
  • Upon your death, a special fund is established in your name, in the name of your family, or in honour of any person or organization you choose.
  • Grants are made in the name of the fund you establish (or, if you prefer, they can be made anonymously).
  • We handle all the administrative details.