Creating Your Legacy
A legacy gift is a donation for the continued benefit of a cause you believe in. By making a legacy gift to InspireHealth, you have the opportunity to ensure that your InspireHealth community continues to grow and support more people transform the feat of a cancer diagnosis into inspired action and healing.
Your gift will contribute to the health of your granddaughter, you son, your sister and brother, your wife, your neighbor, and your best friend. Your gift is a reflection of the person you are, the person you’ve become, and the lasting legacy you would like to leave. Your legacy will allow many others to benefit from what you value:
Supportive cancer care in a community healing environment
From our free extended medical appointments and wide variety of core health classes to our 2-day LIFE Program, InspireHealth provides leading-edge comprehensive cancer care programs in a unique healing environment unlike any other health care facility in Canada.
Empowerment, transformation and leadership
Our multidisciplinary team of medical doctors and health practitioners are committed to leading a movement to bring wisdom into Medicine – to support our patients’ wisdom and the transformative potential of illness and healing. This whole-person approach, which honours the body’s healing potential while recognizing the value of conventional medicine, is the heart of the work we do – is it the future of Medicine.
Legacy Gift Planning Options
1. Gifts of Cash or Appreciated Property (Major Gifts)
When you make an outright gift of cash or property to InspireHealth, you will have the satisfaction of seeing your gift at work right away helping InspireHealth provide supportive cancer care programs to more people living with cancer.
2. Gifts of Publicly-traded Securities
Gifts of publicly-traded securities are one of the most tax-effective ways to make a simple, outright gift. In addition to the regular tax credit or deduction, gifts of publicly-traded securities to public charities are fully exempt from capital gains tax.
3. Gifts of Life Insurance
Gifts of life insurance allow you to make a significant gift to InspireHealth, for a relatively small cost to you and, at the same time, you realize tax benefits. A gift of life insurance may be made to support InspireHealth in the following ways:
i. You establish a life insurance policy on your life and then transfer the ownership of the policy to InspireHealth and also designate InspireHealth as the registered beneficiary.
ii. You may sign over an existing policy to InspireHealth and designate InspireHealth as the beneficiary.
4. Charitable Bequests (Gifts by Will)
A charitable bequest is the simplest and most common gift planning option and may be made by naming “InspireHealth Society” in a will or codicil to a will. You can leave a specific amount, a specific percentage, or choose to leave the remainder of your estate after other debts and bequests have been paid. InspireHealth can provide you with appropriate bequest language.
5. Gifts of RRSPs and RRIFs
Making a gift of your RRSPs or RRIFs is a simple and tax-effective way of donating. You can make InspireHealth the beneficiary of your RRSPs and RRIFs by visiting the institution holding these investments, asking them for a chance of beneficiary form, and designating InspireHealth as your new beneficiary.
Frequently Asked Questions
What is the simplest type of legacy gift?
A donation to InspireHealth is the simplest type of Legacy gift. InspireHealth is a federally registered charity and all donations are tax deductible. You gift will help support your InspireHealth community. A charitable bequest in your will is one option.
What are the tax advantages of gifts of publicity-traded securities?
Gifts of publicly-traded securities are subject to generous tax incentives in Canada. Recent changes to the Income Tax Act have completely eliminated capital gains tax on publicly-traded securities when gifted to a charity. As a result, if you make a gift of publicly-traded securities to a registered public charity, like InspireHealth, you will avoid paying any capital gains tax. In addition, you will receive a charitable tax receipt for the full market value of your publicly traded securities.
How can I be sure I’m choosing the right type of legacy gift?
The choices and tax implications can be overwhelming. Talk to your legal or financial advisor about the many options available. Ask how you can support a cause such as InspireHealth while saving taxes and / or securing an income for a fixed term of for life.
Why create a will?
A will is one of the most important documents you can have. It represents where you have chosen to direct the final settlement of your estate and other affairs. A will is a written document and legally signed. By making a will, you choose who will benefit from your estate: family, friends and charity. If you don’t have a will, the law determines who will benefit and who administers your estate.
Why make a gift through your will?
Making a gift through you will provides you with the opportunity to support a cause you believe in, and allows you to choose how you would like to make a difference in your community. It may consist of a certain sum of money, as asset, or the remainder of your estate. A charitable bequest allows you to make a large gift that may not be possible during your lifetime.
Is making or changing a will difficult?
To make a will, you can begin by making a list of all assets and important personal possessions. Next, list the people, organizations and causes you’d like to provide for in your estate. Then ask your lawyer or notary to draft the will for you to make it legally binding. For change to an existing will, all that is required is an amending document, or codicil.
What is InspireHealth’s full legal name?
InspireHealth Society is our full legal name, and you need to use it if you choose to name InspireHealth as a beneficiary in legal documents, charitable number: 108 103 920 RR0001.
For more information
If you would like to receive more information on how your legacy will help change the lives of British Columbians living with cancer, please contact InspireHealth on 604-734-7125 or email Stefenie Milosz, Communications, Marketing and Donor Relations Manager at smilosz@inspirehealth.ca