A Gift of Music for the Ears of Tomorrow
�The arts are so
important, especially music. It lifts the spirit. This is music that
is 250 years old, and people are still raving about it.�
-
Bev Petch, Planned Gift donor to
Orchestra London
Planned Gifts are the
�ultimate� gifts � the most personal expression of commitment and
support a donor can give. These types of gifts have and will continue
to be a major source of support for Orchestra London and are a
meaningful and cost-effective way to ensure long-term financial
support.
There are many ways to make a planned gift:
Bequests
A bequest is a gift made
through your will as a legacy (specified sum of money), residual gift
(a percentage of your estate residue), or a gift of property.
Life Insurance
Insurance allows you to
make a substantial gift without taking on a large expense. By taking
out a new life insurance policy, and naming Orchestra London as owner
and beneficiary, you will receive tax receipts for the annual premiums
you pay. Existing policies that have finished serving their original
purposes can have the ownership and beneficiary designation
transferred to Orchestra London. A tax receipt is then issued for the
cash value.
Charitable Gift Annuity
By purchasing a Charitable
Gift Annuity, you can enjoy immediate tax benefits as some of the
purchase value results in an immediate gift to Orchestra London (for
which a tax receipt is issued). The remainder buys an annuity, which
pays you income for your lifetime, and depending on your age, a
portion of that income will be tax-exempt. If you name Orchestra
London as beneficiary, your estate will also receive a charitable tax
receipt for any proceeds received upon your death.
Securities and Investments
Gifts of stocks, bonds,
mutual funds or GICs can be made to Orchestra London. If there is a
capital gain on the asset, you will pay tax on only 25% of the gain,
as opposed to the 50% otherwise payable on taxable capital gains.
RRSPs and RRIFs
By naming Orchestra London
as beneficiary of your RRSP or RRIF, the full balance of your account
at your date of death will be paid to the orchestra, and a tax receipt
will be issued in return. Because the tax owing on registered holdings
can be very substantial upon death, the tax relief resulting to your
estate from this type of gift can be significant.
Charitable Remainder Trusts
If you have cash or an
asset that you have considered leaving to Orchestra London in your
Will but would like the tax benefit now, then a charitable remainder
trust or a gift of residual interest may be your answer. A charitable
remainder trust pays you an annual income for life from your invested
principal. A gift of residual interest allows you to donate an asset
today (personal residence, work of art, investment property) and enjoy
the use of it for the rest of your life.
Please consider
demonstrating your support for Orchestra London by making a Legacy or
Planned Gift. We welcome the opportunity to meet with you or your
Estate Planner to discuss our planned giving program and options that
will provide the greatest tax benefits to your family.
For more information,
please contact Bev Trist-Stewart at 679-8558 x 228 or
[email protected]
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