What You Can Do

Gift in Your Will

You can make a lasting impact on the health of your community.

• Charitable Bequest / Will Provision

  A charitable bequest is a gift made through your will. This is the most common type of planned gift and allows you to make a future gift to St. Mary’s without affecting your income today.

  You can choose leave a predetermined amount of money, a specific piece of property, all or a portion of your estate residue (the undistributed remainder of your estate). Your estate will receive a tax receipt that can reduce or eliminate estate taxes.

  STEP BY STEP:

  1. Determine with your professional advisor which type of planned gift will most reflect your values.
  2. Speak to your lawyer about drafting your will or adding a codicil to your existing will to include a bequest to St. Mary's General Hospital Foundation.
  3. Contact us at the Foundation to let us know so we can thank you and add you to our Cornerstone Society.

• Gifts of Life Insurance

  There are many advantages to choosing to donate your life insurance policy:

  • You will receive a charitable tax receipt either for the fair market value of the policy or receive receipts annually for the policy payments you've made.
  • You can choose to receive tax savings during your lifetime, or have this applied to your estate.
  • You will be making a smaller investment today that will provide a larger future gift to St. Mary's.
  • You will receive recognition during your lifetime through St. Mary’s Cornerstone Society.

     

  STEP BY STEP:

  1. Discuss with your financial advisor or insurance provider which method of donating life insurance makes the most sense for you.
  2. Contact St. Mary’s General Hospital Foundation and your insurance provider if you wish to transfer ownership of a policy, create a new policy or change the policy beneficiary to St. Mary’s General Hospital Foundation.
  3. Contact us at the Foundation to let us know so we can thank you and add you to our Cornerstone Society.

• RRSP & RRIF

  Support St. Mary's General Hospital by changing the beneficiary information on your RRSP or RRIF. Your retirement funds are among the most heavily taxed assets you own.

  However, when St. Mary’s is designated as a direct beneficiary of a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF), these taxes are offset at the time of death. Your gift will be treated as a charitable donation in the year of death and St. Mary’s General Hospital Foundation will issue a tax receipt for the full amount being transferred.

  The gift is simple to make - you name St. Mary's General Hospital Foundation as a direct beneficiary on the plan document and advise the institution holding your retirement account of the change.

  STEP BY STEP:

  1. Request a change of multiple beneficiary form from your plan provider.
  2. Change the beneficiary information on the plan document by naming St. Mary's General Hospital Foundation as the beneficiary of all or a portion of the RRSP or RRIF, and return the document to your plan provider.
  3. Contact us at the Foundation to let us know so we can thank you and add you to our Cornerstone Society.

St. Mary's Cornerstone Society

Members of the Cornerstone Society have a vision of St. Mary’s long-term financial health; having made a provision for St. Mary’s General Hospital in their estate.

Members of the Cornerstone Society are recognized by name on the Donor Recognition wall located in the main hospital lobby and are annually invited to a very special education luncheon event.

If you have made a provision for St. Mary’s General Hospital in your estate and financial plans, please let us know.

 

LEARN MORE ABOUT THE CORNERSTONE SOCIETY

For more information about estate giving, please contact:

Jaime Wilson
Director, Leadership Giving
jwilson@supportstmarys.ca
519.404.9583