There are several types of legacies you can leave. Whichever you choose, your gift to Variety will make a huge difference in the lives of children who have special needs.
1. Residual Legacy This highly recommended gift is a remainder or percentage of your estate after all your other gifts, taxes, and debts have been fulfilled. Your estate receives a tax receipt for the gift when completed. Also, by dividing your estate by percentages, you can be confident that the gift you give will retain its value as inflation rates change.
2. Specific Legacy You decide a specific dollar amount to leave to Variety in your Will. Your estate receives a tax receipt for the gift when completed.
3. Registered Investments Registered investments, such as RRSPs or RRIFs, can be given as a gift by naming Variety as a beneficiary to the registered Plan with the Trustee or institution holding these investments. By naming Variety as a beneficiary outside of your will, you can ensure that Variety will receive the gift with little processing time. Your estate will also receive a tax receipt for the gift when completed.
4. Insurance Policy Gifts of Life Insurance can be made to an existing policy, new policy, or you can make Variety – The Children’s Charity beneficiary of a life policy. By naming Variety as a beneficiary outside of your will, you can ensure that Variety will receive the gift with little processing time. You will also receive a tax receipt for the gift when transferred.
5. Charitable Trusts A Charitable Remainder Trust is a unique form of charitable gift that allows you to give a gift for the future. Receive a tax receipt for the gift now while receiving regular income from the trust. These receipts can be used immediately to offset tax otherwise payable on capital gains and/or other income, and if advantageous to you, can also be spread over five years.
6. Endowments Endowments are permanent. They are gifts made with the requirement that the principal will never be spent. Financial support is drawn from the income generated by the initial donation and allocated according to the donor's specifications. The principal of your gift remains untouched in perpetuity.
While very easy to create, either through your Will or during your lifetime, endowments are legal contracts so please call us so that the proper documentation will be used.
By communicating your plans to Variety, you’ll ensure that your philanthropic goals are met. Please let us know your intentions when you name Variety as a beneficiary of your Will, retirement plan, or insurance policy - it will greatly assist in our long term planning process.
Variety - The Children’s Charity Federal Tax Number: 10816 8709 RR0001
For additional information please contact us at 310-KIDS (5437).
