Retirement funds constitute one of the major assets of most people.
If you are enrolled in a Registered Retirement Savings Plan (RRSP), or have already converted your RRSP to a Registered Retirement Income Fund (RRIF), you can make a charitable gift to COHA of all or a portion of any retirement funds that remain.
If you have already made arrangements for your spouse and children, or if you are not survived by a spouse and have no children, leftover retirement funds can make an excellent charitable gift because the charitable tax credit will offset the tax otherwise payable at the time of the distribution of your assets.
- You retain use of the fund during your lifetime and the remainder is transferred to COHA upon your death.
- If your bequest exceeds 100% of your net income, the excess may be carried back to the previous tax year.
- The gift passes outside of the estate and there is no probate fee involved.
All you need to do is instruct the institution holding these investments to provide you with a Change of Beneficiary Form, in which you would insert Central Okanagan Hospice Association as your new beneficiary.
When you make a provision for COHA in your will, please let us know and you will automatically become an honourary member of COHA and our Legacy of Care. Your legacy gift will significantly help us plan for the future of compassionate care for the terminally ill and their families. Thank you for your support.
Our legal name is:
Central Okanagan Hospice Association
#104-1456 St. Paul Street,
Kelowna, BC V1Y 2E6