While there are many ways to make a legacy gift, Bequests and Gifts of Life Insurance are the most popular in Canada.

BEQUESTS

The following sample language is intended as a resource when making a bequest to the Canadian Olympic Foundation.  There are several options in making a bequest; you should seek legal and/or financial counsel to ensure that your intentions are clearly defined in your Will and that the type of bequest best suits your financial situation and philanthropic goals.

I give the Canadian Olympic Foundation/Fondation olympique canadienne, located at 21 St. Clair E., Suite 900  Toronto, ON  M4T 1L9 with the charitable registration number 81772 9346 RR001, the sum of $      to be used in a manner that the Canadian Olympic Foundation deem appropriate.

OR

I give the Canadian Olympic Foundation/Fondation olympique canadienne, located at 21 St. Clair E., Suite 900  Toronto, ON  M4T 1L9 with the charitable registration number 81772 9346 RR001,                        % of my estate to be used in a manner that the Canadian Olympic Foundation deem appropriate.

In gifting a bequest, donors should consider providing the COF with a copy of the clause in the Will pertaining to the bequest.  This will be particularly helpful for receipting the estate at the appropriate time.

LIFE INSURANCE

Life insurance is another way to make a legacy gift.  By purchasing a life insurance policy, a donor can donate a larger sum while enjoying tax savings. There are several options in making a gift of life insurance; you should seek legal and/or financial counsel before proceeding with a planned gift.

The following four options exist to donate a life insurance policy:

Purchase a new policy.  If you name the COF as the irrevocable owner and beneficiary of the policy, you will receive tax receipts for all the premium payments that you make.

Donate an existing policy.  Old policies that are no longer needed by the donor or donor’s family can create current tax benefits.  If you name the COF as the irrevocable owner and beneficiary of a paid-up policy, you will immediately receive a tax receipt for the cash surrender value of the policy.

Name the COF as the beneficiary of a new or existing policy.  Your estate will receive a tax receipt for the face value of the policy when the gift is realized.

The benefits of donating Life Insurance include the pleasure of making a significant gift to the COF by making relatively small payments toward a life insurance policy over several years, the proceeds pass quickly to the COF free of taxes, fees and probate costs, and your gift does not reduce the value of your estate for your heirs.

For further information on bequests, life insurance or other planned giving opportunities, please contact Selga Apse, Business Manager, at 416 32 4 4297 or sapse@olympic.ca.

Thank you for considering the Canadian Olympic Foundation.

Olympic Club

Upcoming GamesSee All

2016 Rio

2016 Rio

History will be made in 2016 when Rio de Janeiro, Brazil hosts the Games of the XXXI Olympiad, marking the first time that a South American country will welcome the world to an Olympic Games. It is also just the third time that the Games will be held in the southern hemisphere, following Melbourne 1956 and Sydney 2000.

Top Team Canada Fans

Al Redpath

Current Level

Legend

  • Total: 34211 points
  • Earned this week: 4182 points

Kerri McGregor

Current Level

Legend

  • Total: 24210 points
  • Earned this week: 2300 points

Benn Wood

Current Level

Legend

  • Total: 20130 points
  • Earned this week: 2380 points

Mary Manna

Current Level

Legend

  • Total: 12064 points
  • Earned this week: 850 points

Clay Naslund

Current Level

Legend

  • Total: 10145 points
  • Earned this week: 1095 points

Ivy Tennis

Current Level

Legend

  • Total: 8841 points
  • Earned this week: 1355 points

Beckie Santavy

Current Level

Legend

  • Total: 7568 points

Matthew Tully

Current Level

Legend

  • Total: 7375 points

Website by zync.ca | Programmed by Trew Knowledge | Powered by WordPress.com VIP

Follow

Get every new post delivered to your Inbox.

Join 1,104 other followers