Planned Giving Using Life Insurance
Charitable Giving has become more popular in Canada.
You may wish to remember a charity through the payment of a cash legacy at the time of your death. Rather than leaving the burden of paying that legacy with your estate, you could consider funding this gift well in advance. This option can be done through the purchase of a life insurance policy. Funding the charitable bequest with a life insurance policy is generally structured one of two ways:
1) So that you receive a current charitable tax credit
2) Charitable tax credit available on death
For more information, click the link below.