Bequests, which are gifts made by Will, are the most common way to make a Planned Gift. You may already have thought of a way of being generous and of making a contribution that could outlive you! Making a gift by Will to the S.P.C.A. is an excellent way of donating something greater than you could during your lifetime

Bequeathing to the S.P.C.A. is simple and involves minimal cost to you. You can either make a new Will or amend an existing one. Ask the professional who handles your Will to contact the S.P.C.A.'s Director of Planned Giving about precise bequest language

You can make a gift for a specific sum of money, or a percentage of your Estate, personal property, a portion of, or all of the remaining Estate.

Bequests can provide significant tax relief for Estates. Moreover, Tax Receipts are issued to your Estate by the S.P.C.A.

Your generosity can be directed towards the S.P.C.A.'s greatest needs, or aimed towards more specific purposes dear to your heart.

Furthermore, by establishing a Perpetuity Trust, you can ensure that your name, or that of someone close to you, will be remembered long after your death.

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Gifts of Life Insurance Policies have grown in popularity in recent years. The reason being that they are a unique and exceptional way to make a substantial gift to a charity, even if you have a modest income.

Consider the things that such a Gift allows you to,

  • Make a substantial, lasting gift with a relatively low financial investment;

  • Extend your personal influence beyond your lifetime for years to come for the caring of animals;

  • Ensure that your name, or that of a loved one, is remembered after your death, through the setting up of a Perpetuity Trust;

  • Non-reduction of your Estate, because the death benefit is paid by the Insurance Company to the S.P.C.A. and your heirs receive your entire Estate, as per your Will.

Regarding Tax Receipts for a Life Insurance Gift, two options are available to you :

  1. You may receive a Tax Receipt in your name, each year, for the equivalent of half the premiums paid on the Life Insurance Policy.

  2. Should you decide, upon discussing this matter with your Financial or Estate Planner, to have the Tax Receipt issued at the time of your death only, a Tax Receipt will be issued equivalent to half the amount of the Life Insurance Policy. This will offset the Capital Gains Tax applicable. Therefore, your heirs truly benefit from the totality of your Estate.

This type of gift can be made from a policy purchased by you, or through your employer, or by taking out a new policy. In all cases, the S.P.C.A. must be named as both owner and beneficiary of said Life Insurance Policy.

A Charitable Gift Annuity is a form of Planned Giving that is much appreciated by all recognized charitable organizations, such as the S.P.C.A. By opting for an Annuity, you will receive a Fixed Income, guaranteed for life. This type of income can be fully or partially tax exempt, depending on the contract.

Choosing an Annuity is more advantageous than investing your money in a GIC and cashing in your interests periodically (you would pay more Income Taxes). On the other hand, your Annuity is partially taxable, leaving you with two benefits : more after-tax income than a GIC and the opportunity to contribute to the S.P.C.A. at the same time.

If there is any capital left in the Annuity (depending on the type of contract), the S.P.C.A. will receive the balance.

The benefits for the donor are :

  • Guaranteed Income for life (financial security and peace of mind);

  • Lower income taxes;

  • Higher after-tax income (higher than GIC interest income);

  • No management worries, as it doesn’t depend on the Stock Market;

  • A certain pride of having done your share for the animals;

  • Minimum or no cost to you to set up this type of Gift. On the contrary, you have increased your Retirement Income.
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A Gift-In-Kind is a contribution of something other than money. The following are examples of such types of gifts: stocks, bonds, mutual funds, jewellery, art, houses, cottages, farms, real estate, antiquities, etc...

You can make this kind of gift either immediately or through a will. Once the gift is made, the S.P.C.A. now has the liberty to either keep it and use it, or sell it for the proceeds. In certain instances, you may have the right to keep on using those gifts, or living in them.

Often, donors who desire to make a very important donation to the S.P.C.A. use this type of Planned Giving.

Furthermore, the S.P.C.A. has very important needs, and, if your desire is to help us in such a way, we would be more than happy to send you a list of our urgent needs.

This is the most tax-effective way for you to help the animals. The monetary value of the gift is deemed to be the fair market value of said gift, and, a tax receipt will be given for that amount.

N.B.: if it is your intention to donate securities such as stocks, bonds or mutual funds, make sure that your gift is transferred to the S.P.C.A. as a security and not as cash. Do not sell the securities and donate the cash proceeds; if you do, you'll be paying extra income taxes on the capital gains realised.

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A Charitable Remainder Annuity Trust ensures a future gift to the S.P.C.A. and provides the donor with secure income for life.

How does it work ? You put cash, real estate or securities (shares, bonds or mutual funds) into a trust. You then receive income from the capital in the trust for the rest of your life. In the case of real estate, you can benefit from the use of the property for as long as you so desire. Upon your death, the capital is then transferred to the S.P.C.A. You will receive a tax receipt when you establish the trust for the present value of the future gift. The tax savings can allow people to live tax free for up to five (5) years.

Here are some of the benefits of establishing such a gift :

  • You receive income for life from the capital in the trust;

  • You receive substantial tax savings that can be spread over a period of five years;

  • You're relieved of investment worries;

  • You're making an irrevocable gift that will help the animals for generations to come.

Unlike a gift (or bequest) made through your will, a charitable remainder annuity trust cannot be challenged by others. Wills can be altered by courts or challenged by heirs. The trust is treated by the Canadian Income Tax Act as a separate legal entity, and is thus separated from the rest of the will and not subject to any challenge.

Establishing such a trust will require the professional services of a notary, a lawyer or possibly your accountant and a trust company to act as a trustee to manage the trust. We, at the S.P.C.A., are able to advise you on the necessary procedures for establishing a Charitable Remainder Annuity Trust.

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