The Princess Margaret Cancer Foundation | UHN

Build a Legacy

By including The Princess Margaret Cancer Foundation as part of your estate plan you will help our researchers fund future cancer research for patients in Canada and around the world. Each gift has tax benefits that you may want to consider when planning your gift.

 

Gift in your Will

Thank you for considering a gift in your Will to The Princess Margaret. Every gift in your Will makes a difference, no matter how large or small.

Past gifts from Wills have already helped so much:

  • Created a patient assistance program to help purchase wigs for patients during their chemotheraphy treatment
  • Providing much needed support to our Healing Beyond the Body program focused on the mind, body and soul of the patient
  • Supported the highest needs of the cancer centre in areas like general research and patient support

Consider some of the benefits of a gift in your Will:

  • There is no immediate cost to you so you don't have to worry that the gift will reduce what you  have to live on.
  • You can make a bigger gift than you could during your lifetime
  • Gifts made in the Will can reduce or even eliminate final income tax that would otherwise reduce what you leave to your heirs

Give yourself the peace of mind by having your affairs in order. Discuss your options with your family and involve a financial advisor to help you assess all of your assets.

Take a look at some examples of Bequest Wording to help you get started.  It is important to note that our correct legal name is The Princess Margaret Cancer Foundation

Have questions? Please contact our Estate Giving Team.

Gift of Life Insurance

Life insurance is another great way to support The Princess Margaret because of the minimal investment up front.  You may not be able to make a significant gift now but it is a great way to leverage tax benefits to make a larger gift than you ever thought possible.

You might be in one of these situtations where life insurance might work for you:

  • Have an existing policy that you no longer need? Consider making The Princess Margaret Cancer Foundation the beneficiary of the policy for tax savings in your Estate
  • Or why not transfer the ownership to the Foundation? You will get income tax receipts for the remining premium payments
  • Have a paid up policy? You can donate it and possibly get a larger income tax receipt to use right now
  • Purchase a new policy and make The Princess Margaret the owner and beneficiary and receive a tax receipt for your premium payments.  The income tax refund you get will make the premiums cost much less!
  • Simply designate The Princess Margaret Cancer Foundation a beneficiary of your policy

Working with a life insurance broker can help you assess what policy is right for you taking into consideration your age, gender and general health.  Each option has different tax consequences and may make sense at different stages of life.

Have questions? Please contact our Estate Giving Team.

Gift of RRSP/RRIF

Registered Rretirements Savings Plans & Registered Retirement Income Funds

At the time of your death your RRSP and RRIF are considered as income and taxed quite heavily. By designating The Princess Margaret Cancer Foundation as a beneficiary of your retirement funds you will receive a charitable tax receipt to offset any taxes owed. The gift would go directly to charity without being taxed or even needing to go through probate.

Have questions? Please contact our Estate Giving Team.

Disclaimer:
The above information is not intended as legal or financial planning advice. When considering any estate gift, you should always consult your legal advisor, financial planner or your family members.