A gift of securities is one way to show your appreciation to your parish. It will also help you save taxes as you can avoid capital gains tax if handled properly

How to make an estate gift to your church

By 
  • November 8, 2015

An estate gift to your parish or favourite archdiocesan charity can be a way to say thank you to God for all the blessings He has given you. Some of the most common gifts are as follows.

Cash and outright gifts

This type of gift is very straightforward. You give a specified amount of cash and are given a tax receipt for the same amount.

Bequests

A bequest is a gift in your Will and is eligible for a tax receipt to your estate. There are many different kinds of bequests to match every type of individual circumstance.

Endowments

An endowment is a gift made to last. The original capital of the gift is preserved in perpetuity while the income that the capital generates is used to fund charitable programs. An example is the ShareLife “Legacy for Life” endowment fund which generates an annual income to meet the ongoing needs of ShareLife-funded agencies.

Life insurance

It is possible to gift life insurance to your parish or favourite archdiocesan charity. As these gifts can be a bit technical, it is necessary to consult a life insurance agent. Depending on how the policy is structured, you can elect to receive your tax receipt on an annual basis or wait until after your death, with the receipt being issued to your estate.

Gift of listed securities

Gifting securities will help you save taxes because the government allows you to donate appreciated securities directly to a Canadian charity without having to pay any capital gains tax. You can now use securities to consolidate all of your church giving — including your parish offertory, special collections and all your other favourite archdiocesan charities. In many cases it only requires a one-page form.

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