Charitable Gift Annuity
If you are age 70 or over, you may wish to consider a charitable gift annuity that will provide guaranteed income for life, usually with little or no tax. At least 20-25% is counted as a donation to Baycrest, for which a charitable receipt is issued.
Charitable Remainder Trust
A charitable remainder trust (CRT) generates an income stream for life to you or other beneficiaries. Essentially, you transfer property into a trust managed by a trustee (a financial institute, a lawyer, yourself or other individual). Baycrest is named as remainder beneficiary. After a prescribed period of time or upon death, the asset is transferred to Baycrest. This allows the asset to remain with you during your lifetime, while providing you with a tax receipt.
Consider naming your family endowment in your Last Will and Testament. This fund will continue to provide stable, reliable support for vital programs and services at Baycrest – not just today but well into the future.
Get In Touch
To learn more, please call (416) 785-2500 ext. 6288. One of our legacy staff members will be pleased to answer your questions.
We strongly encourage you to seek independent advice when executing gifts of property, securities, life insurance, charitable gift annuities, trusts, wills and other legal agreements.