Leave a Legacy
“We think that if we can make the world around us a little bit better by our short passage on earth then it will give our lives more meaning.”
– Giao and Minh, Legacy Donors
You can create a powerful legacy of support for women and their families by naming Women’s College Hospital in your will, life insurance, registered retirement savings funds (RRSPs or RRIFs) or by making a gift of securities.
Your generosity will help Women’s College Hospital continue to achieve extraordinary advancements in women’s health for generations to come, impacting healthcare across Canada and the world. Below you’ll find several ways you can make a legacy gift.
To discuss your unique wishes or for more information, please contact us:
Sara Ly
Vice President, Philanthropy and Partnerships
Sara.Ly@wchospital.ca
437-216-8601
Your legacy giving options:
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Make a bequest in your will
A donation in your will, known as a bequest, allows you to leave a legacy once your needs and those of your loved ones have been met. A bequest is a tax-effective way to support Women’s College Hospital. Your estate may claim gifts in the year of death up to 100 per cent of your net income in that year and any excess up to 100 per cent in the preceding year.
You can designate your gift to your preferred area of interest or allow Women’s College Hospital Foundation to use the gift to support the hospital’s highest priority needs.
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Life Insurance
A gift of life insurance is an inexpensive way to create a legacy with Women’s College Hospital Foundation. A modest annual premium paid over time will result in a significant future gift.
There are two ways to arrange a gift of life insurance. You can transfer ownership of a new or existing policy to Women’s College Hospital Foundation, in which case you may receive a tax receipt for the value of the policy at the time of transfer and for premiums paid after the transfer. Alternately, you can name Women’s College Hospital Foundation as beneficiary of your policy while retaining ownership, in which case your estate may receive a tax receipt for the proceeds received by Women’s College Hospital Foundation upon your death.
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Registered Retirement Savings Funds (RRSPs or RRIFs)
Retirement funds may be subject to significant tax upon death if left to anyone other than a spouse or qualified beneficiary. However, when Women’s College Hospital Foundation is designated as the direct beneficiary of a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF), the resulting charitable donation tax credit may offset some or all of the taxes payable at death. Your gift will be treated as a charitable donation and Women’s College Hospital Foundation will issue a tax receipt for the amount it receives.
The gift is simple to arrange. Name Women’s College Hospital Foundation as a direct beneficiary on the plan document and advise the institution holding your retirement account of the change.
Please note: Gifts made directly from an RRSP or RRIF to a registered charity during a donor’s lifetime may also qualify for a charitable tax receipt. However, the amount withdrawn from the plan is generally treated as taxable income to the donor in the year of the withdrawal.
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The Spirit of Life Society
Individuals who choose to remember Women’s College Hospital through a future gift arrangement become part of our Spirit of Life Society. Members of the Spirit of Life Society are celebrated through a range of special benefits and engagement opportunities, including:
- Invitations to special luncheons and events
- Recognition in Women’s College Hospital Foundation’s donor listings
- Other as discussed between you and Women’s College Hospital Foundation
We are committed to working with you, your family and your financial advisors to ensure your philanthropic and financial goals are met. For more information about how you can make a future gift to Women’s College Hospital Foundation and become a member of the Spirit of Life Society, please contact us:
Women’s College Hospital Foundation
437-216-8601
Sara.Ly@wchospital.ca
