Another way of benefiting the community through the Community Foundation of Lethbridge and Southwestern Alberta is with a gift of Life Insurance. This method is useful to donors who are interested in leaving a significant gift at an affordable cost. Benefactors can donate an existing policy to or purchase a new one for the Community Foundation; or keep ownership and name the Community Foundation of Lethbridge and Southwestern Alberta as a beneficiary. Please contact our Executive Director [George Hall] at 403-328-5297 or your Professional Advisor to get some assistance in deciding which option is best for you and your family.
1. Donate an existing policy, naming the Community Foundation of Lethbridge and Southwestern Alberta as its owner and beneficiary. By transferring ownership of the policy to the Community Foundation, the donor will receive a charitable tax receipt for the policy's current cash surrender value, and receive donation receipts for any premiums the donor pays once the Community Foundation is the owner.
2. Purchase a new policy, naming the Community Foundation of Lethbridge and Southwestern Alberta as its owner and beneficiary. By naming the Community Foundation as the owner, the donor will receive donation receipts for any premiums you paid once the Foundation is the owner.
Consult your insurance advisor regarding types of policies and the costs involved to maintain a policy for the amount of your gift. If you wish to proceed, your insurance advisor will work with the Community Foundation of Lethbridge and Southwestern Alberta to transfer ownership of the new or existing policy to the Community Foundation and/or name the Community Foundation as the beneficiary, all depending on which option you choose.
The Community Foundation of Lethbridge and Southwestern Alberta will be pleased to work with you to put a fund agreement in place that will ensure your wishes are carried out after the gift is received.
OF LETHBRIDGE AND SOUTHWESTERN ALBERTA
COMMUNITY FOUNDATION
Address:
Professional Building
404 8th St S.
Lethbridge, AB
T1J 0N9
Downloads & Links
There are three ways to donate life insurance:
3. Keep ownership and name the Community Foundation of Lethbridge and Southwestern Alberta as a beneficiary. Gifts of life insurance may provide tax relief, are not subject to probate and do not reduce the value of gifts to other beneficiaries of your estate. The policy is paid tax-free directly to the foundation, and your estate will receive a charitable tax receipt [that may be used to offset other taxes on your estate].
Donations of Insurance
|
www.cflsa.ca
|
Updated December 2011
|
office@cflsa.ca 404 8th St South
|
403*328*5297
|