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Planned Giving

Bequests in a Will
A bequest in your Will to our Church is an acknowledgment of your returning to God a portion of the gifts He has bestowed on you during your lifetime. Charitable bequests can have a favourable impact on your overall estate plan and positively affect gifts you make to your loved ones.

Bequests are NOT just for the “wealthy”!  Consider including your parish or any of the archdiocesan charities or departments in your Will.  Let you Will reflect your Catholic values.

A proper estate lawyer is the key to making an effective estate plan that fulfills your wishes, takes care of those you love and ensures your affairs are concluded in a fair and agreeable manner.

We have a free estate planning guide to help you make your plan. The Archdiocese of Toronto also maintains a list of advisors in our parish area who are available to assist in your estate planning and the preparation of a Will.

Please contact us for bequest wording, our free guide or a list of Catholic estate advisors in your area:

Rhonda Sogren, Development Coordinator, ext 561   OR

Peter Okonski, Manager, Planned Giving and Personal Gifts, ext 519
Development Office
416-934-3411
development@archtoronto.org

All calls are strictly confidential, there is no fee or charge for this service.

Private "Donor Advised Funds", Endowments and Private Funds

An endowment is a gift that lasts.  Usually involving a large initial gift, the original capital is preserved in an account and the income is forwarded to a charity on a regular basis.  An endowment fund can consist of cash, securities, paid-up life insurance policies as well as personal and real property.

Such an endowment can also be administered by a bank or financial firm and then it is called a "donor advised fund".

Many people can create a large fund by starting early, contributing in life and making the fund a beneficiary in their Will allows them to create significant gifts like scholarships, special funds for parish projects, programs such as vocations, youth or music funds every year... forever!

Creating a fund is the result of a desire to help - let's start the conversation today.

For more information, please contact:

Rhonda Sogren, Development Coordinator, ext 561   OR

Peter Okonski, Manager, Planned Giving & Personal Gifts, ext 519

Development Office                                                                                                 

416-934-3411                                                                                                 

development@archtoronto.org

Registered Retirement Funds (RRSPs, RRIFs)

Anyone can name a charity the direct or contingency beneficiary of an RRSP or RRIF.

By the age of 71, RRSPs must be converted ("rolled over") into a Registered Retirement Income Fund (RRIF).  A minimum amount must be withdrawn from the RRIF each year - many people don't consider that often that amount may be equal to what they give away to charity each year.  By donating directly, you can save time and ensure that you will take care of the parish offertory every year.

Gifts designated in your RRSP/RRIF go directly and confidentially to the charity of your choice.

For more information please contact:

Rhonda Sogren, Development Coordinator, ext 561   OR

Peter Okonski, Manager, Planned Giving & Personal Gifts, ext 519                   

Developement Office                                                                                 

416 934 3411                                                                                                     development@archtoronto.org

 All calls are confidential and there is no fee or charge for this service.

Life Insurance  Life insurance may be a useful and a low-cost way of making a charitable gift.  It often makes a larger gift affordable.  You can make a gift to your parish or any other charity of the Archdiocese of Toronto.

There are four ways to make a gift of life insurance:

  • Donated Policy: Purchase a new life insurance policy and then name a charity as its owner and beneficiary.  The premiums you pay are eligible for a charitable income tax credit each year and proceeds are paid from the insurance company directly to the charity upon your death.  The proceeds are not reduced by the estatet taxes or fees.
  • Making a charity a direct beneficiary: The premiums paid are not eligible for a charitable income tax credit, but when the proceeds are paid by the insurance company directly to the charity upon your death, your estate will receive a receipt for the full amount.
  • Making a charity a beneficiary of the insurance policy in your Will: The premiums are not eligible for an income tax credit and the proceeds of the policy will be paid directly to your estate.  Although the estate will receive a receipt for the full amount, that amount will become a part of the estate and will be accordingly reduced by taxes and fees.
  • Gifting a paid-up life insurance policy: Anyone can make a current gift of a paid-up life insurance policy.  To satisfy the requirements of Canada Revenue Agency, the value of the policy will have to be established and customarily the cost of such valuation is covered by the donor.

Many parishioners consider including a charity as a contingent beneficiary in the event of an accident involving the whole family.

If you need an insurance advisor, the archdiocese has a list of Catholic advisors in many areas of the GTA.  For more information contact:

Rhonda Sogren, Development Coordinator, ext 561   OR

Peter Okonski, Manager, Planned Giving & Personal Gifts, ext 519                                                             416 934 3411  or                                                                                             development@archtoronto.org 

All calls are confidential and there is no fee or charge for this service.