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The Haven Legacy Circle - Planned Giving

Since becoming a Foundation in 2004, Haven Institute Alumni have advised that their wills include a bequest to The Haven Foundation (registered Canadian charity). US Alumni may also bequest to The Haven Foundation, by designating The Friends of Haven Foundation (a registered US charity).

To celebrate and permanently recognize Alumni who have made a planned gift we created The Haven Legacy Circle.

A planned gift is one that lasts far beyond our lifetime and it enables your children and grandchildren to benefit from the life changing experiences offered at The Haven Institute. A carefully planned gift can meet your charitable objectives, provide essential financial support for The Haven Foundation and also provide a tax benefit.

Here are some brief descriptions of the types of planned gifts your may wish to consider.

Bequest - A provision in a will that allocates a gift to a designated charity.

Charitable Remainder Trust - An irrevocable trust that pays a specified annual amount to one or more people for a fixed term. At the end of the term, the remaining trust assets are distributed to the designated charity. A charitable remainder annuity trust provides a fixed payment; a charitable remainder unitrust pays out a fixed percentage of the trust value each year.

Charitable Gift Annuity - An irrevocable transfer of property (e.g. securities), in exchange for a contract to pay the donor an annuity for life. Because the value of the property exceeds the value of the annuity, it is partially a gift to the charity.

Life Insurance - A charity is designated beneficiary of a life insurance policy. The cash value of that gift is tax deductible, as are any future premiums the donor may opt to pay on that policy. Most types of life insurance are appropriate as a gift, whether paid up or non-paid-up, or whether an individual or a group policy. Changing insurance needs often present excellent opportunities for policies to become important charitable gifts.

Life Estate - Donating a home to the charity while retaining the right to live there for life. The donor receives an immediate income tax deduction. The charity may sell the property upon death.

Gift of Retirement Plans -Naming a charity as the beneficiary of an RRSP or RRIF plan. At death, the proceeds are received by the charity and a donation receipt is issued to the estate.

Securities - Transferring ownership of stocks and/or securities to a charity provides a low-cost significant gift. Recently, the elimination of capital gains tax on donations of publicly listed shares to a registered charity also means the donor will not pay tax on these amounts.

The Haven Foundation recommends consulting with your personal professional financial consultant, lawyer or tax advisor and family before making a major or a planned gift.