If it is all due to chance,    then chance is a great artist.                    Maurice Baring

The Advantages Of Giving 

Other than the obvious advantages of lending purpose to one's own life and death (and providing assistance to those others who need it most), giving can benefit you in two other significant ways:

• In retirement, it can help relieve your tax burden, and

• At death, it can help your spouse and your family hold onto the value of your estate.
  

Ways To Give

Charities and non-profit organizations have qualified people with access to legal advice who are available to discuss on the telephone or at your home any questions you may have about giving.

It's their job and they don't mind at all discussing with you the choices and beneficial tax opportunities.   

Kinds Of Giving

For a concise guide on the kinds and types of charitable gifts, visit www.royalbank.com/rt-wealth.  Here is a brief summary of the terms:

Annuities.   You give a lump sum to a charity and receive monthly income in return.  Preferred by people 70 years and older, couples can purchase annuities that pay for the lifetime of both spouses.

Bequests.  Your estate retains greater value when given to a charity.

Charitable Remainder Trust.  You give cash or property to a charity and continue to receive income from the trust.  At the end of your (and your spouse's) lifetime, the trust passes directly to the charity as its beneficiary. 

Endowment.  You make a gift now or in your will which provides a continuing source of income for a charity.  The principle remains intact.

Gifts In Kind.  This is a gift other than cash which can include property, jewelry, works of art, even your car.

Life Insurance.  You assign an existing policy or purchase a new one with the charity as beneficiary.  This generates tax credits immediately and can convert a modest outlay into a very significant contribution at the end of your lifetime.

RRSPs.  For your gift of RRSP accumulations to a charity, the tax credit will offset the tax payable on the RRSP.

Stocks & Securities.  The tax credit offsets the tax payable on any capital gain.