Ways to give
Legacy Giving
Support the people and causes that are meaningful to you through thoughtful legacy planning.
Few decisions are as personal and significant as leaving a legacy gift. You can realize the dream of providing for the future of health care in a way that may not have been possible during your lifetime.
By incorporating Markham Stouffville Hospital Foundation into your estate plans, you actively contribute to the transformation of healthcare within our hospital, guaranteeing a lifelong continuum of care for our growing, aging and diverse community.
Leaving a gift in your will offers a simple yet profound way to establish an enduring legacy.
Wills aren’t just a legal way to distribute your personal assets. They can be a powerful way to support your favourite causes and loved ones. It can be as simple as adding a clause to your Will.
Consider your giving options
- A percentage of your estate.
- A percentage of the residue of your estate.
- A specific gift amount.
Benefits
- Enjoy the asset during your lifetime.
- Receive tax benefits on your estate, providing the most financial return for your beneficiaries.
- You can update your Will at any time, including if your financial situation or intentions change.
Wording your Will is simple
- “To pay to the Markham Stouffville Hospital Foundation(13064 3620 RR 0001)_______ % of the residue of my estate.
- “To pay to the Markham Stouffville Hospital Foundation(13064 3620 RR 0001) the sum of $_______ .”
Consider making a donation through either an existing or a new life insurance policy.
Supporting Markham Stouffville Hospital with a gift of life insurance is an affordable way to make a significant impact. An annual premium paid over time will result in a legacy that will enable MSH to continue delivering excellence in patient care for our community.
How to donate life insurance
- Transfer an existing policy: make Markham Stouffville Hospital Foundation the owner and beneficiary. You’ll receive a charitable tax receipt for the fair market value at the time of transfer and an annual charitable tax receipt for annual premiums paid following the donation.
- Assign Markham Stouffville Hospital Foundation as the beneficiary of a new or existing policy: a charitable tax receipt for the proceeds will be issued to your estate.
Benefits
- Affordable annual premiums can contribute to a meaningful legacy gift.
- Receive a charitable tax receipt with significant tax benefits during your lifetime or for your estate.
- You can update your Will at any time, including if your financial situation or intentions change.
- No probate fees associated with a gift of life insurance.
You can offset taxes and eliminate probate fees by naming MSH as the beneficiary of RRSPs and RRIFs.
Transform health care in your community by naming Markham Stouffville Hospital Foundation as a direct beneficiary of Registered Retirement Savings Plans (RRSP), Registered Retirement Income Funds (RRIF), or a Tax Free Savings Account (TFSA).
Benefits
- Retirement funds can be your most heavily taxed assets. You can offset this tax and eliminate probate fees by designating Markham Stouffville Hospital Foundation as a direct beneficiary of the proceeds of your RRSP, RRIF, or TFSA.
- A charitable tax receipt will be issued to your estate once the donation is realized.
- Making your gift is as simple as changing your beneficiary.
- Maintain full use of your accounts during your lifetime.
Donating stocks or securities is a powerful way to make a big impact and enable our hospital to meet the needs of our growing, aging and diverse community. We encourage you to discuss your philanthropic goals with your tax and wealth advisor to determine how best to maximize the benefits for you and your family.
You may choose to donate during your lifetime, or as part of your estate planning.
