A Guide to Planning Your Legacy

CHOOSE YOUR LEGACY

Gifts of Retirement Funds

The federal government has made it easy to make a meaningful gift beyond your lifetime with your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). Contributing the proceeds of a retirement fund to The Havergal College Foundation allows you an opportunity to make a significant investment in education, receive a donation receipt for the full value of the proceeds and know the resulting tax credits will offset taxes otherwise payable by your estate. Benefits of Retirement Fund Gifts All of the remaining money in most retirement funds (RRSP/RRIF) is fully taxed in the year of death, often at the highest tax rate. Designating The Havergal College Foundation as the beneficiary of such plans creates an official donation receipt that will offset taxes owed. You can gift your RRSPs and RRIFs outside of your will by designating them to The Havergal College Foundation, therefore they are not part of your will and your probate fees will be reduced.

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