Gifts in Wills

These types of gifts ensure that PSBC will receive the gift without having to pass these assets through an estate. A registered retirement plan is a tax deferred savings plan, such as a Registered Retirement Savings Plan (RRSP) or Registered Retirement Investment Fund (RRIF). You will receive a tax benefit when you invest money in the plan and any interest that is earned is tax free.

To create this type of gift, you must designate Parkinson Society British Columbia as the beneficiary of the registered plan’s assets. You can do this with your banker or financial advisor.

By gifting the total proceeds of the registered plan to Parkinson Society British Columbia, a charitable contributions receipt is issued and is available to be applied against 100% of the net income on your final tax return. If the receipt exceeds the taxable income of your estate, the balance can be applied against up to 100% of your taxable income of the year preceding your death. With this option, at the time of your death, the proceeds of the plan are donated to the Society. The executor of your estate will include the full balance of the registered plan in your final tax return. Then your executor will receive a charitable contributions receipt from Parkinson Society British Columbia for the same amount.

A charitable gift annuity offers you the ability to make a significant gift while enjoying income for life that is largely tax exempt. The benefit to you is a safe, secure stream of income that his largely tax-exempt. In addition, you will receive a charitable tax receipt for the charitable portion which may be applied for tax relief for up to five years. Note that this gift is best suited for individuals who are 65 years of age or older.

You could name Parkinson Society British Columbia (PSBC) as a beneficiary of a new or existing life insurance policy. To create this designation, simply request and complete a beneficiary change form from your insurance company.

These types of gifts may provide you with an opportunity to support PSBC and also reduce your estate’s tax bill. Name PSBC as a beneficiary of a new or existing life insurance policy. You may name Parkinson Society British Columbia either as a primary beneficiary of all or part of the proceeds, or as a contingent beneficiary in the event that your primary beneficiaries predecease you. While PSBC benefits from the possibility of an eventual gift, this option offers no immediate tax benefits since the Society does not own the policy. If PSBC becomes the ultimate beneficiary of the policy, your estate receives a charitable receipt. Death benefit proceeds will be paid directly to the charity, thus avoiding the claims of creditors, other beneficiaries and probate fees.

Visit our gifts of securities page to learn more.