Download a copy of CREATE YOUR LEGACY brochure
Bequests | Life Insurance | Securities/stocks | Charitable Annuities | Charitable Remainder Trusts | Gifts of Property | Family Endowment Funds | RRSPs or RRIFs | Real Estate
Share your dreams and hopes...make a bold statement about what really matters to you.
A Legacy Gift is a special planned and carefully considered donation that balances your's and your family's financial circumstances with your charitable giving goals. There can be great comfort in knowing that you have a plan that will provide for your family in the future, as well as leaving a gift to your favourite charity.
A more tangible benefit of Legacy Planning is the tax savings that can be realized by choosing an option most beneficial to your portfolio. Your financial planner, accountant or lawyer can give you assist you in determining what is best suited for your personal planning. There can be no substitute for sound advice from your legal or financial advisor.
As part of your plan, please consider a gift to the Vernon Jubilee Hospital Foundation. There are many ways to make important and lasting contributions to health care in the North Okanagan. Whether you wish your gift to be directed to the area of greatest need or you have a specific hospital fund, care facility or community program you wish supported, VJHFoundation can assist you in making your dreams become a reality.
Name Vernon Jubilee Hospital Foundation in your will and you can designate as a specific amount, a percentage of your estate or the amount left after your other beneficiaries and estate expenses have been satisfied (referred to as a residual bequest). More information is available on the Leave a Legacy website.
A donor can transfer the ownership of an existing policy to the Vernon Jubilee Hospital Foundation or change the name of the beneficiary to VJHF – or both. If the ownership is transferred, VJHF will take over monthly payments and the donor makes the equivalent monthly donation to VJHF. At the conclusion of the tax year, a tax receipt is issued for the total annual payments.
As of the May 2006 federal budget, capital gains tax is no longer applicable on gifts of publicly traded securities donated to Canadian Charities. This means that if you donate publicly listed securities to VJH Foundation, you will receive a tax receipt for the appreciated value but will pay NO tax on any capital gains. Stocks must be donated directly to the VJH Foundation and will be sold at the current market value. You will receive a charitable tax receipt for the full fair market value of the shares on the date that the Foundation receives them.
This is an attractive option for retirees and the older you are when you establish a charitable gift annuity, the higher your income will be (you should be 70+). A gift of $10,000 or more is made to VJH Foundation and is invested in a guaranteed life annuity with a major insurance Company. VJHF receives an immediate gift of 20 per cent to 25 per cent for which you receive a tax receipt. Depending on your age, your income will be subject to minimum tax or be tax free. Charitable gift annuities are also irrevocable.
This is an irrevocable trust that pays income to one or more beneficiaries for life or a specific time frame and then distributes the assets remaining to the Vernon Jubilee Hospital Foundation .
Real estate, artwork or virtually any other property can be passed on to the Foundation and are eligible for income tax receipts. At the same time you can fulfill your desire to provide a gift to the Foundation.
A donor can establish an endowment fund for a family member in their lifetime or through their will. Named endowment funds allow you to remain a donor for many years after you are gone. This can be a wonderful legacy to leave for your family name. The principal of the fund is invested in perpetuity, and only the income is used to support the equipment needs of the hospital.
We currently receive income from the following endowment funds:
For further information regarding planned giving, contact: 250.558.1362 info@vjhfoundation.org
