Gifts Outside Your Will
A gift of life insurance or one of your retirement funds to the MDHF can be beneficial for your heirs and for your community. Both of these gifts will be distributed outside of your Will, avoiding probate and we will issue a tax receipt that will reduce or possibly eliminate taxes to be paid.
To add or change a beneficiary on these gifts, you need to request a beneficiary form or a change of beneficiary form from the institution holding your fund or policy to provide a gift for the Milton District Hospital Foundation. Once you’ve returned the form to your institution, do confirm your they have a record of your wishes
Do you have a policy that is no longer useful for you or family? Would you like to give a larger gift than you otherwise thought possible? If so, consider:
- Transferring the policies ownership to MDHF= tax receipt today on the value of an existing policy, and on future premium payments on a new or existing policy.
- Making MDHF a beneficiary = tax receipt for your estate
Retirement Funds – RRSPs, RRIFs, TFSAs, Mutual Funds
You earned it – enjoy it. When you no longer have need of them, consider making OHF a beneficiary on any of these funds, giving your estate significant tax savings and leaving your Will private. These gifts are distributed outside your estate, avoiding probate and keeping your Will private.
We strongly encourage you to speak with your family and advisors about the most advantageous beneficiary for your circumstances.
Would you care for more details?
Deborah Bauder, CFRE
Associate Director, Gifts & Estate Planning
Oakville Hospital Foundation