West Lincoln Memorial Hospital Foundation | Investing in Life

Leave a Legacy

A legacy gift to the WLMH Foundation gives you the opportunity to maximize tax benefits and achieve personal financial goals while giving vital support to a cause you believe in.

A legacy gift may be ‘outright’ or for the Foundation’s immediate use or ‘deferred’ meaning arranged now for use at a future time.

There are different options available in terms of how legacy gifts can be arranged; each type of gift offers particular benefits to the donor, and each supports the mission of the Foundation.


Cash
An outright gift may be made with cash or non cash assets such as securities and real estate.  With an outright gift every dollar goes to work the moment that it is given and will provide vital current support or generate ongoing endowment income to support the West Lincoln Memorial Hospital.  The Canada Revenue Agency’s charitable donation tax credit means that your gift is worth more to the WLMH Foundation than its actual net cost to you.

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Charitable Bequest
When you include the West Lincoln Memorial Hospital Foundation in your will, you ensure that our West Lincoln Memorial Hospital will provide the highest quality of care for the patients of tomorrow.  At your death, your estate is entitled to a donation receipt for the full value of your bequest, providing a significant tax credit on your final tax return.


Gift of Life Insurance
There are different ways you can use life insurance to make a gift to the WLMH Foundation; you can contribute a policy you already own but no longer need, or purchase a new policy as your gift, or if you have other assets you’d like to contribute to the Foundation you can use life insurance to replace the value of those assets for your heirs. For just a small monthly premium, you are able to make a substantial gift to the Foundation over time. Annual tax receipts are also available for the premiums you contribute to the policy. Should you choose to make the Foundation the owner of an existing policy, you will receive tax receipts for the cash surrender value of the policy as well as for subsequent premium payments.


Charitable Gift Annuity
A gift annuity provides both a gift to West Lincoln Memorial Hospital Foundation Inc. and guaranteed payments for life for you or you and your spouse. The annuity rates depend on your age, but they will normally be higher than current GIC interest. Moreover, a portion of your annuity payments (100 percent in some cases) will be paid out tax-free. All donors will also receive a donation receipt for a portion of their original contribution.


Charitable Remainder Trust
A charitable remainder trust is a deferred giving arrangement under which you irrevocably transfer property (cash, securities or real estate) to a trustee. You retain the right to the income from the trust, either for life or a specified term of years, and at the end of that time, the trust principal becomes your gift to West Lincoln Memorial Hospital Foundation Inc. You receive a donation receipt for the present value of this remainder interest.


Gift of Residual Interest
A gift of residual interest “gives back” in a different way. You may donate your residence but retain the right to occupy it for life, or give a valued artwork and continue to enjoy it during your lifetime. In each case you receive a donation receipt for the present value of the “residual interest” you have given to the Foundation.

To learn more about Legacy giving, please contact the Foundation Office.


“It’s not just about being here, it’s about leaving the world a better place because I was here.”  Jordan Blake Michiels.

Due to the legal and financial considerations involved with legacy giving, we encourage you to consult with your lawyer and/or financial advisor in order to discuss the details of your unique financial plan. Inquiring about your options with these professionals can help you make an informed decision about how to make your planned gift.

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