 Wills and EstatesHelp CMHA/Peel by
arranging a gift in your estate. After planning your family's
future, you may wish to support a cause you cherish such as CMHA/Peel.
Include CMHA/Peel as a beneficiary in your will, name us as the
owner and beneficiary of your life insurance policy or donate your
shares or mutual funds to us.
Arranging a planned gift not only suits your current
circumstances and financial goals but it allows CMHA/Peel to
continue providing emergency programs and services to the Peel
community and those who are recovering from a mental illness.
Create a permanent legacy to CMHA/Peel and leave a lasting
impression.
Types of Giving
Bequests
Life Insurance
Gifts of Securities
BEQUESTS
A bequest can be made in the form of cash or property by
including CMHA/Peel as a beneficiary in your will. It’s simple to
arrange and can significantly reduce the tax paid by your estate.
And as you may make changes to your will at any time, you retain
full control of your gift and can easily alter or add a codicil to
the will to meet changing circumstances.
You may also make a residual bequest to CMHA/Peel. A residual
bequest is a gift of all or a fraction of whatever remains after
all debts, taxes, expenses and other bequests are paid.
What should I say in my bequest?
If you would like to provide support for the future work of
CMHA/Peel by including a charitable bequest in your will, the
following language may be helpful:
"I give to Canadian Mental Health Association/Peel branch
(hereafter referred to as CMHA/Peel ) currently located at 7700
Hurontario St., Unit 601, Brampton, ON L6Y 4M3, the sum of $_______ (or
________% of my estate) to be used in support of its general
charitable purposes."
Will there be any tax advantages if I leave a gift in my
will to CMHA/Peel?
When you make a donation through your will, the tax credit can
be claimed up to 100% of net income in the year of death.
(Ordinarily, tax credits for charitable donations can be claimed
up to 75% of net income). If the amount of your bequest exceeds
your income for that year, credit for the excess can be applied up
to 100% of the previous year's income.
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LIFE INSURANCE
You can name CMHA/Peel as the owner and beneficiary of a new or
existing life insurance policy. Often the gift will exceed the
premiums you will have paid, allowing you to bestow a much larger
gift than you might otherwise be able to give.
Transferring ownership of an existing policy to CMHA/Peel
entitles you to a tax credit for the cash surrender value. Premium
payments also qualify for a tax credit.
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GIFTS OF
SECURITIES
If you own shares or mutual funds that are traded on certain
stock exchanges, you can receive extra tax savings by donating
them to CMHA/Peel. By giving shares directly to a registered
charity, only 25 per cent of your capital gain will be taxable,
compared to the normal 50 per cent. The tax benefits can equal as
much as 50 cents for every dollar of stock you donate.
You may also give a gift of RSP or RIF funds. To do so, name
the estate as the beneficiary of the RSP or RIF and provide in
your will for an equivalent bequest to CMHA/Peel. The tax credit
of the bequest would offset the tax on the distribution.
The information contained in this section is general in nature
and is not a substitute for independent legal advice. We recommend
you seek independent counsel before making a planned gift.
Legacy Gifts Information
For further information on how you may make a legacy gift to
CMHA/Peel, please contact Shelagh Nuttall, CMHA/Peel Resource
Development at 905-451-1718 x 320 or
nuttalls@cmhapeel.ca
or complete and submit the form below electronically, or fax it to
905-451-1720, or mail it to:
Canadian Mental Health Association/Peel Branch
7700 Hurontario St., Unit 601
Brampton, ON L6Y 4M3
Ph: 905-451-1718
Fax: 905-451-1720
Legacy Gifts Information Request Form
Your information will be kept strictly confidential and we will
send you an information package within a week of receiving your
request.
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