Legacy Giving

Healthcare for Life. Here. Your Guide to Legacy Giving

Your legacy gift can be a powerful tool to shape the future of the Huntsville Hospital and benefit your estate at the same time. “A legacy gift is a gift for others but thanks to tax benefits, and the satisfaction of helping our hospital, a legacy gift is also a gift for you.” — Jane McCutcheon Over the years, the Huntsville Hospital Foundation has received many generous gifts from the estates of thoughtful donors. The hospital has used those estate gifts to fund medical and technical equipment. The Government of Ontario pays for the operations of the hospital — utilities, salaries and everyday costs associated to running a hospital. But the equipment you see and use at the hospital is paid for by the donors like you through Huntsville Hospital Foundation. 

Looking Foward…

As we move towards the construction of a new hospital, legacy gifts will enable the Huntsville Hospital to continue to provide the compassionate, outstanding health care our community has come to depend on, but in state-of-the-art facilities that meet future needs. We appreciate your consideration to include Huntsville Hospital Foundation in your legacy plans. We appreciate this is very personal. After providing for your loved ones, there are many ways to include a Legacy Gift to Huntsville Hospital Foundation. Discuss what works best for you with your advisors to make legacy gift. It can be a percentage of your estate, a specific amount, or what’s left over after you’ve made specific directions for your loved ones. If you’re not planning to update your Will, that’s ok, you can simply include a codicil in your Will outlining your wishes. The Foundation team will provide support when and where required. Should I tell the Foundation they are in my Will? YES, please! If you have remembered Huntsville Hospital Foundation with a legacy gift, we are truly grateful and hope you will share this information with us. We would love to thank you, ensure your legacy gift is used exactly as you wish, include you in the benefits of the Legacy Circle and recognize the impact you make to support Huntsville Hospital. You can find some resources and information on how you can leave a legacy gift through our partnership with Will Power; a national movement to inspire Canadians to make a meaningful philanthropic impact. For answers to common legacy giving questions, download our legacy giving information package.

Disclaimer: The Legacy Giving information on this website is provided for general information purposes only. It is not intended as a substitute for professional advice and assistance from your lawyer, financial advisor, or tax consultant. We recommend that you discuss your plans with your lawyer and/or financial advisor before proceeding with a legacy gift.

Legacy Giving Options

Bequeath a donation of property, assets and/or cash and a tax receipt will be issued to your estate for the market value of the bequest. Bequests can be specified amounts, percentages of an estate, or the residue after other commitments have been met. Read More.

There are three ways to give through Life Insurance: 1. Donate an existing policy; The Foundation is made owner of the policy. 2. Purchase a new policy and transfer ownership; a tax receipt is issued annually to the donor for payments of premium. 3. Donate the proceeds of a policy; the donor retains ownership of policy and designates charity to receive some or all of the insurance proceeds. A tax receipt is issued to the estate for the proceeds paid to the charity upon the death of the donor. Proceeds are not subject to probate fees. Read More.

A donation of securities is a cost-effective opportunity to make a difference for Huntsville Hospital. Donating publicly- traded securities eliminates the capital gains tax that becomes payable when selling securities on the market and in turn the proceeds are donated to Huntsville Hospital Foundation during your lifetime or as part of a legacy gift. Read More.

To transfer securities electronically, please complete this form, Charitable Donations Securities form and deliver to your broker and to the Foundation as well with your complete information for tax receipting.

Transfer cash or marketable securities in exchange for a current income tax deduction and lifelong income. This donation method allows for an immediate gift to the Foundation, and the Foundation will in turn make fixed annual payments to you for life from the remaining funds. A minimum of $10,000 is required for a gift annuity.

Donate all or portions of your remaining trust assets to ensure that your gift is not subject to probate, estate taxes or possible challenges to your will. Entering into a trust agreement with the Foundation today provides income to you or your beneficiaries now and until the termination of the trust, and provides an immediate tax benefit. Read More.

You can make a gift of real estate to the Foundation, either outright or as part of your estate, and receive a charitable tax receipt for the fair market value of the property. If the gift is a principal residence no capital gains will be triggered. The Gift of Residual Interest is another way of making a gift of property. You can donate the asset, which the Foundation will eventually receive as part of your estate, but still live in and enjoy it throughout your lifetime. Read More.

One key advantage of planned giving is that you can defer your gift. This gives you the opportunity of providing larger gifts, without impacting your existing finances or lifestyle. Naming the Foundation as the beneficiary for RRSPs (Registered Retirement Savings Plan) or RRIFs (Registered Retirement Income Funds) usually eliminates the tax on this investment. Upon death, the proceeds go to the Foundation and the Estate receives the tax credit. Read More.

Establish an endowment fund to recognize an individual or group and create a living legacy to which your family and friends can also contribute. Donations to the endowment are invested, and the interest generated from this capital provides an ongoing source of income for the charity of your choice. Endowing funds is a popular way of memorializing or paying tribute to individuals. It also allows a donor to perpetuate their support after death to an area that was important to them.

Legacy Giving


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Legacy Circle

A Circle of Giving 

The circle of life is central to the concept of Legacy Giving. We live fully, we leave behind a legacy of generosity. The circle concept also reflects completion of the journey, in the company of others, counting on each other as people so often do. The Huntsville Hospital Foundation’s Legacy Circle encompasses all of these ideas. What you leave behind completes your contribution to a new generation. This is the essence of Legacy Giving.

Frequently Asked Questions

A legacy gift is a planned bequest that provides an opportunity to support a charitable organization that is meaningful to you.

A bequest is a gift that you make through a will or trust. A beneficiary designation is a gift you make through a contract such as life insurance, investment accounts and retirement plans.

Anyone! It does not matter your age, assets or wealth and there is no minimum. Every bequest,of any size, is significant for the future of Huntsville Hospital.

Yes! We completely understand that this may be one of the most important considerations for you. Some people divide their estate into percentages, leaving a portion to each of their children, grandchildren, loved ones and another to their charity of choice. You may want to talk to your professional advisors regarding your estate plan. A gift in your will can provide relief from, and in some cases eliminate entirely, taxes on your estate.

This type of giving has the potential to impact not just one person, but a whole community. It’s a wonderful opportunity to shape the future of your community

Both are important. Huntsville Hospital Foundation is grateful for all donors. A gift in your will is an extraordinary way to leave a legacy that will last for years to benefit future generations. It helps the hospital plan for the future.

Your gift will be used to support patient care and provide state-of-the-art tools for medical professionals at Huntsville Hospital.

We understand that choosing to make a gift in your will is personal and you certainly don’t have to talk to us about it. If you do chose to let us know that Huntsville Hospital Foundation is in your will, it allows us the chance to speak to you directly to thank you and learn about your motivations for giving, so that we can do right by your extraordinary gift. It also allows us to include you as a member of the Legacy Society that comes with it’s unique benefits and inspires others as well.

No! Even if your will has already been written, you can include Huntsville Hospital Foundation using a special legal clause called a codicil. A codicil is a piece of paper attached to your will that outlines the changes you’d like to make in the settling of your estate.

You can change your mind at any time about your bequest. You can change your will or simply add a codicil to your will indicating the change in your wishes.

As a registered charity, Huntsville Hospital Foundation will provide a charitable tax receipt to your estate. Depending on your circumstances, the receipt can help to offset taxes on your estate, and not take anything away from your heirs.

Our legal name is Huntsville District Memorial Hospital Foundation. We are also known as Huntsville Hospital Foundation.

Your lawyer or other professional adviser will help you with the wording of your legacy gift.

Below are examples.

 

A gift to support The Huntsville Hospital Foundation when received: I leave to the Huntsville Hospital Foundation, 4-100 Frank Miller Drive, Huntsville, ON P1H 1H7, or its successor, (state share or percentage of estate, a specific amount of money, the specific securities you wish to leave, or a specific item or items.) I direct this money be used as the Foundation chooses (or state program or area of work you wish to support.)

 

A gift to support The Huntsville Hospital Foundation in perpetuity:

I leave to the Huntsville Hospital Foundation, 4-100 Frank Miller Drive, Huntsville, ON P1H 1H7, or its successor, (state share or percentage of estate, a specific amount of money or the specific

securities you wish to leave). I direct this money be kept and invested in perpetuity with income generated to support healthcare needs as the Foundation chooses (or state program or area of

work you wish to support.)

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