Did you know that The Hospice for Life Foundation can be made a direct beneficiary of your RRSP, RRIF, or pension plan? To designate the Foundation as a direct beneficiary, you simply fill out a form that your financial advisor can provide, which is then submitted to the fund’s investment carrier. You may designate all or a portion of your fund as your gift to the future.
Once your gift is received, The Hospice for Life Foundation will issue a tax receipt for the full amount to your estate. This tax receipt can offset the taxes due on this type of fund, making financial sense for your estate as well.
For those individuals or families concerned about maintaining the privacy of their estate, directly gifting an RRSP, RRIF or a pension can be the best option. Since the Foundation is a direct beneficiary, no funds will flow through your estate; there is no need to share the contents of your will, or involve the Foundation in the probate process.
You should always consult with your financial planner and other pertinent advisors before making a gift to ensure that your specific needs and requirements are met.