Life Insurance Policy
You can name Broadmead Care Society as the beneficiary of a policy (including a policy from your workplace). You might also consider signing over ownership of a policy with premiums that are fully paid. In this case, you will receive a tax receipt for the cash surrender value.
A gift of a life insurance policy is paid directly to Broadmead Care from the insurance company, so no probate fees will be required. However, there are also no tax savings to the estate.
Charitable Remainder Trusts
This gift might suit individuals who wish to make a substantial donation with an irrevocable trust and earn immediate tax savings while receiving income from the asset’s interest for life. Upon transfer, you will receive a tax receipt for the present market value of the gift. Upon your passing, the asset is transferred to Broadmead Care Society.
