Legacy Giving
Help With Brain Injury
Legacy Campaign: Planned Estate Giving
Did you know that currently over 50% of Canadians do not possess a finalized, legally valid Will? Allocating the time to structure your estate guarantees that your loved ones remain fully protected, your hard-earned assets avoid chaotic default distribution by state courts, and your personal philanthropic values endure long into the future.
Strategic Benefits of Including BIAPR in Your Estate Planning
• Significant Tax Efficiency: The Canadian tax framework provides highly generous credits for charitable bequests left within a Will, effectively reducing or eliminating final estate taxes and preserving more value for your direct beneficiaries.
• Absolute Asset Control: Acting proactively while you are of entirely sound mind removes immense stress, court delays, and administrative legal expenses for your family during their time of grief.
Flexible Structured Asset Vehicles for Legacy Giving
• Life Insurance Policies: Designating BIAPR as a primary beneficiary allows you to receive active tax receipts for annual premiums or accrued cash value.
• RRSPs & RRIFs: An incredibly efficient, simple method to directly offset high terminal tax liabilities on your final estate returns.
• Securities & Mutual Funds: Transferring appreciated stocks directly to our charity completely eliminates capital gains taxes.
• Real Estate Endowments: Bequeathing property assets to directly back our long-term residential care and supportive housing strategies.
Accreditation
B.I.A.P.R. has been a fully accredited agency since 1997. We are very proud of our accreditation history and our achievement of receiving the highest accreditation award of Exemplary status. As most of you are aware, as part of the accreditation process, every 4 years, our accrediting body (Accreditation Canada) conducts a site survey to verify that we continue to meet all accreditation standards and required organizational practices.
Giving Today:
Donate and Receive a Charitable receipt.
We accept credit card donations.
A Will protects those you care about whether your family or a charity you support. You have worked hard. Why not make sure that the assets you worked so hard to accumulate go where you want them to go.
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Provide financing support to help individuals build livelihoods
Adding B.I.A.P.R. to your Will or Codicil
Gifts that can be left in a WILL
Life Insurance Policy:
Life Insurance Policy:
To donate an insurance policy on your life, you name the charity as beneficiary and owner. If an existing policy is donated, you will receive a donation tax receipt for the cash surrender value and any accumulated dividends or interest, less any outstanding policy loans.
Gifts of Real Estate:
- You can continue to use the property for life.
- You receive a charitable tax receipt for the net present value of the property when the gift is made.
- These gifts are not included in probate and provide privacy, as they are not part of your will.
- If all or the majority of your estate is intended for charity, then a gift of residual interest is a way to ensure you maximize the use of your charitable tax receipts.
- At the end of the term of the agreement, typically upon death, B.I.A.P.R. will either sell the property or add it to its assets, depending on your agreed-upon wishes.
Securities & Mutual Funds:
This is a great way to save capital gains tax. Check with your accountant. In general, you need to complete a Letter of Direction form and send it to your financial advisor or investment firm. This authorizes the transfer of shares to B.I.A.P.R.. Once shares are sold, we will send you a confirmation email with your charitable tax receipt.
RRSP / RRIF:
Your Small Donations Make Bigger Impact On Someone’s Life, So Act Today!
Discover the Power of Community and Compassion
Powers of Attorney:
A Power of Attorney for Property allows your designate(s): Our Community Support Services assist with:
- Ensure your bills are paid and financial accounts kept in good standing.
- Apply for pension and insurance benefits.
- Make sure the income is used for your benefit and care.
- Maintain your residence and make adaptations for your changing needs.
- Sign legal papers including contracts for services like your telephone or cable TV, leases, real estate documents.
Power of Attorney for Personal Care allows your designate(s):
- To make decisions as to where you live.
- Medical treatments and care.
- Consent to those treatments.
- End of life decision.
For both personal care and property, you need to consider who the best person(s) is to be designated as your attorney:
Our Community Support Services assist with:
- Who do you trust to be organized and honest with your financial affairs?
- Who do you trust to respect your expressed wishes for decisions such as future health care and living arrangements?
- If you are considering multiple attorneys, do those individuals get along?
- Do your proposed attorneys live nearby so that they can help in an emergency?
- Are your proposed attorneys likely to communicate well with your family and friends, will they foster your independence and put your needs ahead of their own wishes?
- Have you talked about your wishes with your substitute decision makers, in particular, and your family as a whole?
- Do you have your financial information gathered so that your substitute decision maker can locate your assets, your creditors, and make sure that your financial interests are looked after?
- Do they agree to become your designated Attorney?
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Legal & Financial Information
Speak to a financial consultant or tax planner:
It is important to discuss how to save on capital gains taxes and taxes by giving a gift to B.I.A.P.R. We do not necessarily recommend a specific person, but we do have a list that you can access.Speak to a financial consultant or tax planner:
It is important to discuss how to save on capital gains taxes and taxes by giving a gift to B.I.A.P.R. We do not necessarily recommend a specific person, but we do have a list that you can access. Speak to your lawyer to make a Will: To help you prepare a legally sound Will, you need to work with a professional. A well-prepared Will can save you money by reducing taxes and administration costs. If you die without a Will, the Ontario government will decide how your assets will be divided—not you. You have more to leave than you think. Personal items often have great value, whether sentimental or financial. Write these items into your Will and make sure they go to the person who will appreciate them the most. As we get older our mental capacities fade. You must be of a sound mind to sign and author legal documents. Now is the time to get your affairs in order and ensure that your wishes can be fulfilled. If you’ve gotten divorced or remarried, a new one is necessary. We do not necessarily recommend a specific person, but we do have a list of Lawyers who can help with this.______
Examples “bequest” language:
Specific & Restricted
I give, devise and bequeath to B.I.A.P.R. the sum of $ to be used for the specific and restricted purpose of …… as approved by the Board of Directors of the B.I.A.P.R..General % unrestricted:
I give, devise and bequeath to B.I.A.P.R. Foundation % of the residue of my estate to be used for any purpose(s) approved by the Board of Directors of B.I.A.P.R..Specific, restricted with escape clause:
I give, devise and bequeath to B.I.A.P.R. the sum of $ to be used for the specific and restricted purpose of ………. If B.I.A.P.R. is unable to apply all or part of these funds for the specific and restricted purpose(s) stated herein, the balance of this bequest not so extended may be used for any purpose approved by the Board of Directors of B.I.A.P.R..General %, specific, restricted with escape clause:
I give, devise and bequeath to the B.I.A.P.R. % of my estate to be used for the following purpose(s). If B.I.A.P.R. is unable to apply all or part of these funds for the specific purpose(s) stated herein, the balance of this bequest not so extended may be used for any purpose(s) approved by the Board of Directors.Residual contingent trust:
Upon the death of the survivor of my (wife, husband, daughter, son etc.) here named, I direct my trustee to transfer and deliver the balance of the residue of my Estate, including any undistributed income to the B.I.A.P.R. to be used for any purpose(s) approved by the Board of Directors.General Charitable Clause with instructions to Trustee/Executor regarding capital gains elimination:
I give, devise and bequeath an undetermined amount of my estate to be divided equally to the list of charities that I supported in my lifetime. See Letter of Direction attached for list. These charities shall receive assets such as publicly traded securities and mutual funds in order to reduce the capital gains owing against my estate. I further instruct my Trustee to calculate the amount of such donations to negate any capital gains owing within the rules and regulations determined by the Canada Revenue Agency.
Brain Injury Association Peterborough Region (BIAPR) is a registered, not-for-profit charitable organization, funded through Ontario Health East.