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Planned Giving

A planned gift is a special way to support your Kincardine and Community Health Care Foundation.

Simply put, planned giving is a charitable gift that you arrange today for completion in the future. It is most commonly a planned gift in your will, but can also be a life insurance policy, or a charitable annuity or remainder trust.

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This is one of the simplest and most popular ways of leaving a charitable legacy.

A planned gift is a thoughtful way to make a significant gift to the Kincardine Hospital through a simple provision in your will.

Benefits include:

  • You retain full control of your assets during your lifetime.
  • Your cash resources won’t be affected while you need them.
  • The final taxes to be paid on your estate will be significantly reduced, which can be a big advantage for your heirs and a great comfort to you.

There are different types of planned giving, so you can choose the one that best suits your circumstances and wishes. You can designate a specific gift amount, or a specific piece of property, or contribute all or a portion of your estate’s assets. "Your gift can also be restricted or unrestricted. An unrestricted (or outright) gift can be used by the Foundation immediately for whatever purposes it deems appropriate. A restricted gift is one made to the Foundation but upon which you impose a trust that may take one or both of the following forms:

  1. You may restrict the uses to which the gift may be applied (e.g., your bequest may state that it is only to be used to purchase equipment for the emergency room).
  2. You may require the Foundation to hold the trust property for a period of time or even in perpetuity. (e.g., the donor may wish to set up an endowment fund whereby the capital of the trust must be invested and the Foundation may only spend all or part income annually.)"

For the purposes of planned giving, please designate the gift to “The Kincardine and Community Health Care Foundation”.

Upon receiving the gift in will, The Kincardine Foundation will issue a donation receipt to your estate for the full amount of the gift.

Life insurance is the most widely held investment in Canada and, because of special tax treatment to life insurance policies; it is an excellent gift planning choice.

You can make a gift of life insurance by naming our Foundation as your beneficiary in a new or existing policy.

Benefits include:

  • By paying small premiums during your lifetime, you can build a sizable gift for the future.
  • It’s tax deductible. You can either receive donation receipts equal to the premiums you pay each year, or your estate can receive a donation receipt upon your death.
  • Your estate is protected, since life insurance is considered separate from your estate.
    It is always best to include your trusted advisors and family when make changes to your estate plan.

Gift of an Existing Insurance Policy

You can transfer an existing policy by naming the Foundation the owner and beneficiary. If the policy is paid up, either you or the Foundation do not need to pay additional premiums. The tax receipt is issued for the cash surrender value of the policy plus any accumulated dividends and interest at the time of the transfer. If you continue to fund future premiums, these amounts will also be eligible for the donation credit.

Gift of a New Policy

Some donors choose to take out a new policy with the Foundation as owner and beneficiary. It is important that the Foundation is both the owner and the beneficiary. If the charity is not made the owner, Canada Revenue Agency states that no gift will have been made, and no tax receipt can be issued. Under this type of arrangement, each year you pay the premiums, and the Foundation issues an annual tax receipt for these premiums. The insurance proceeds will be paid directly to the Foundation upon your demise.


In addition, there are creative options for using life insurance proceeds as wealth replacement vehicles, replacing the value of a current gift in your estate so there is no impact on heirs.

A Charitable Gift Plus Annuity Plan combines your gift to The Kincardine and Community Health Care Foundation with an annuity which the Foundation purchases on your behalf through a licensed insurance company.

Guaranteed annuity payments will continue throughout your lifetime, unaffected by changes in the economy or interest rates. The exact amount of the annuity payments will depend on your age, the size of the contribution, and the annuity rates in effect at the time of the gift. The portion of the contribution not required to purchase the annuity will be used by the Kincardine and Community Health Care Foundation for current equipment needs of the Hospital.

This gift option is most advantageous for donors age 70+ and often, payments are tax-free for life

Gifting with an RRSP or RRIF comes with varying tax and estate planning implications.
Before proceeding, please consult your own professional advisor.

By making such a gift, you’ll be leaving a legacy while providing you or your heirs with significant tax benefits.

We are honoured to recognize those who have shared with us their intention to make a planned gift. Once a planned gift is confirmed, donors, with their permission, are recognized on the Foundation Donor Wall.

When making a planned gift, take your personal financial situation and needs into account. Your lawyer, accountant, financial planner or insurance agent can help you determine what kind of planned gift would be best for you, your family and your estate.

Gifting with an RRSP or RRIF comes with varying tax and estate planning implications. Before proceeding, please consult your own professional advisor.

The information provided is general in nature and not intended to represent legal advice. We understand that each individual's financial circumstances are unique and you are advised to consult with a qualified professional advisor.

Bayshore Broadcasting helps to raise awareness about Legacy Giving and the Kincardine and Community Health Care  Foundation is excited to be part of the Bayshore Healthy Tomorrow's Planned Giving Promotion. 

To speak with one of our staff about a planned gift, please contact Diane Baldwin by phone at 519-396-3331 ext.: 4342 or by email at: kchcf@hurontel.on.ca