{"id":4986,"date":"2023-10-05T16:59:22","date_gmt":"2023-10-05T16:59:22","guid":{"rendered":"https:\/\/ccbnational.net\/shaggy\/?page_id=4986"},"modified":"2023-10-05T17:01:52","modified_gmt":"2023-10-05T17:01:52","slug":"a-gift-of-life-beneficiary-or-a-gift-of-registered-investments","status":"publish","type":"page","link":"https:\/\/ccbnational.net\/shaggy\/a-gift-of-life-beneficiary-or-a-gift-of-registered-investments\/","title":{"rendered":"A Gift of Life Beneficiary OR a Gift of Registered Investments"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4986\" class=\"elementor elementor-4986\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-2001014 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2001014\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-359de0b\" data-id=\"359de0b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-54abf32 elementor-widget elementor-widget-shortcode\" data-id=\"54abf32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><button class=\"responsivevoice-button\" type=\"button\" title=\"ResponsiveVoice Tap to Start\/Stop Speech\" data-rvtts-action=\"speak\" data-rvtts-text=\"A Gift of Life Insurance \u2013 Copy Making the Canadian Council of the Blind the beneficiary of a life insurance policy, RRSP, RRIF, or TFSA allows you to create a legacy at the Canadian Council of the Blind once your needs and those of your loved ones have been met. Donating all or part of an RRSP, RRIF, or TFSA is an effective way to reduce the taxes payable by your estate. It is a way to create a lasting gift for the future that is easy to set up and the perfect answer to fulfill your philanthropic intentions once you have made provisions for your family and loved ones.If you die without a surviving spouse or qualifying dependants, the full remaining value of your RRSP or RRIF is added to your income in the year of death. Your estate must pay the taxes, which often create large tax liabilities for your estate. If your RRSP or RRIF has a registered charity as the direct beneficiary, your estate will receive a donation receipt for the entire value of the plan, offsetting any tax liability. A gift of the beneficiary of life insurance or a TFSA can add to the value of your estate with a charitable tax credit by reducing other taxes. Benefits to you Control \u2013 You retain the use of the registered investment for the duration of your lifetime.Simple \u2013 It\u2019s easy to arrange. Simply ask your financial institution to change the beneficiary designation to the Canadian Council of the Blind.Flexible \u2013 The designation is revocable and can be altered if your circumstances change.Cost-effective \u2013 There are no extra out-of-pocket costs.Eliminates probate, legal, and executor fees \u2013 Your gift will not be subject to probate costs or delays in settlement. The full proceeds are payable upon your death.Control \u2013 Not a matter of public record, allowing you to remain anonymous. Additionally, a beneficiary gift cannot be contested.Opportunity \u2013 An opportunity to make a significant gift.Recognition \u2013 Become a member of the 1944 Legacy Society and receive recognition on our digital donor wall and an exclusive pin.\u00a0 How to give Name the Canadian Council of the Blind as the direct beneficiary of your life insurance policy, RRSP, RRIF, or TFSA. Upon your death, the proceeds will be paid directly to the Canadian Council of the Blind without going through probate and without delay.Or, name your estate as the beneficiary and leave instructions in your Will to donate all or part of these financial instruments to the Canadian Council of the Blind. You may specify a percentage or a specific dollar amount to be donated if you wish. Note: Your trustee will withhold taxes, and probate will apply when choosing this option.In both cases, a charitable tax credit will be created for your estate, offsetting taxes and possibly enhancing the estate value for other beneficiaries. See the financial institution administering your life insurance policy, RRSP, RRIF, or TFSA to change the beneficiary. An example Mrs. Jones makes the Canadian Council of the Blind the beneficiary of her RRIF. This leaves a legacy gift of $120,000 to the Canadian Council of the Blind when she dies. Here is what happens:Mrs. Jones creates a future gift for a time when she no longer needs it and has a meaningful impact on the Canadian Council of the Blind.Her estate receives an immediate tax credit of $120,000, offsetting other taxes of approximately $54,000 that can be distributed to heirs.Please seek expert advice. The Canadian Council of the Blind strongly recommends that you seek professional financial, insurance, and\/or legal advice to ensure your financial goals are considered, your tax situation is reviewed, and your legacy gift is tailored to your circumstances. A financial or legal advisor should review in detail what plan best fits your needs. Before considering a legacy gift, you should have already satisfied the needs of your family.For further information, please contact Braydin Frizell at bfrizell@ccbnational.net.\" data-rvtts-voice=\"US English Female\"><svg class=\"rvtts-icon\" width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"currentColor\" aria-hidden=\"true\" focusable=\"false\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11 0C4.92345 0 0 4.92345 0 11C0 13.2683 0.690345 15.3772 1.86621 17.1221L0.811724 21.0517L4.70345 20.0124C6.48621 21.2641 8.65586 22 11 22C17.0766 22 22 17.0766 22 11C22 4.92345 17.0766 0 11 0ZM3.99793 9.99862C3.99793 9.44483 4.44552 8.99724 4.99931 8.99724C5.5531 8.99724 6.00069 9.44483 6.00069 9.99862V12.0014C6.00069 12.5552 5.5531 13.0028 4.99931 13.0028C4.44552 13.0028 3.99793 12.5552 3.99793 12.0014V9.99862ZM8.99724 13.9966C8.99724 14.5503 8.54966 14.9979 7.99586 14.9979C7.44207 14.9979 6.99448 14.5503 6.99448 13.9966V7.99586C6.99448 7.44207 7.44207 6.99448 7.99586 6.99448C8.54966 6.99448 8.99724 7.44207 8.99724 7.99586V13.9966ZM12.0014 17.0007C12.0014 17.5545 11.5538 18.0021 11 18.0021C10.4462 18.0021 9.99862 17.5545 9.99862 17.0007V4.99931C9.99862 4.44552 10.4462 3.99793 11 3.99793C11.5538 3.99793 12.0014 4.44552 12.0014 4.99931V17.0007ZM14.9979 13.9966C14.9979 14.5503 14.5503 14.9979 13.9966 14.9979C13.4428 14.9979 12.9952 14.5503 12.9952 13.9966V7.99586C12.9952 7.44207 13.4428 6.99448 13.9966 6.99448C14.5503 6.99448 14.9979 7.44207 14.9979 7.99586V13.9966ZM18.0021 12.0014C18.0021 12.5552 17.5545 13.0028 17.0007 13.0028C16.4469 13.0028 15.9993 12.5552 15.9993 12.0014V9.99862C15.9993 9.44483 16.4469 8.99724 17.0007 8.99724C17.5545 8.99724 18.0021 9.44483 18.0021 9.99862V12.0014Z\"\/><\/svg><span class=\"responsivevoice-button__label\">Listen to Post<\/span><\/button><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98b3f5b elementor-widget elementor-widget-page-title\" data-id=\"98b3f5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"page-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\n\t\t<div class=\"hfe-page-title hfe-page-title-wrapper elementor-widget-heading\">\n\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/ccbnational.net\/shaggy\">\n\t\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">\n\t\t\t\t\t\t\t\t\n\t\t\t\tA Gift of Life Beneficiary OR a Gift of Registered Investments  \n\t\t\t<\/h1 > \n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-d6e2900 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d6e2900\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-641bcd6\" data-id=\"641bcd6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1829785 elementor-widget elementor-widget-text-editor\" data-id=\"1829785\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Making the Canadian Council of the Blind the beneficiary of a life insurance policy, RRSP, RRIF, or TFSA allows you to create a legacy at the Canadian Council of the Blind once your needs and those of your loved ones have been met. Donating all or part of an RRSP, RRIF, or TFSA is an effective way to reduce the taxes payable by your estate. It is a way to create a lasting gift for the future that is easy to set up and the perfect answer to fulfill your philanthropic intentions once you have made provisions for your family and loved ones.<\/p><p style=\"font-weight: 400;\">If you die without a surviving spouse or qualifying dependants, the full remaining value of your RRSP or RRIF is added to your income in the year of death. Your estate must pay the taxes, which often create large tax liabilities for your estate. If your RRSP or RRIF has a registered charity as the direct beneficiary, your estate will receive a donation receipt for the entire value of the plan, offsetting any tax liability. A gift of the beneficiary of life insurance or a TFSA can add to the value of your estate with a charitable tax credit by reducing other taxes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-727ee3f\" data-id=\"727ee3f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b9b6f54 elementor-widget elementor-widget-image\" data-id=\"b9b6f54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"375\" height=\"252\" src=\"https:\/\/ccbnational.net\/shaggy\/wp-content\/uploads\/2023\/10\/rrsp.png\" class=\"attachment-full size-full wp-image-4987\" alt=\"\" srcset=\"https:\/\/ccbnational.net\/shaggy\/wp-content\/uploads\/2023\/10\/rrsp.png 375w, https:\/\/ccbnational.net\/shaggy\/wp-content\/uploads\/2023\/10\/rrsp-300x202.png 300w\" sizes=\"(max-width: 375px) 100vw, 375px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-72b6943 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"72b6943\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-70c940c\" data-id=\"70c940c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f2fb7bb elementor-widget elementor-widget-heading\" data-id=\"f2fb7bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Benefits to you<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55fc05c elementor-widget elementor-widget-text-editor\" data-id=\"55fc05c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul style=\"font-weight: 400;\"><li><strong>Control \u2013<\/strong> You retain the use of the registered investment for the duration of your lifetime.<\/li><li><strong>Simple \u2013<\/strong> It\u2019s easy to arrange. Simply ask your financial institution to change the beneficiary designation to the Canadian Council of the Blind.<\/li><li><strong>Flexible \u2013<\/strong> The designation is revocable and can be altered if your circumstances change.<\/li><li><strong>Cost-effective \u2013<\/strong> There are no extra out-of-pocket costs.<\/li><li><strong>Eliminates probate, legal, and executor fees \u2013<\/strong> Your gift will not be subject to probate costs or delays in settlement. The full proceeds are payable upon your death.<\/li><li><strong>Control \u2013<\/strong> Not a matter of public record, allowing you to remain anonymous. Additionally, a beneficiary gift cannot be contested.<\/li><li><strong>Opportunity \u2013<\/strong> An opportunity to make a significant gift.<\/li><li><strong>Recognition \u2013<\/strong> Become a member of the <a href=\"https:\/\/ccbnational.net\/shaggy\/the-1944-legacy-society\/\"><strong>1944 Legacy Society<\/strong><\/a> and receive recognition on our digital donor wall and an exclusive pin.<\/li><li>\u00a0<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90261cb elementor-widget elementor-widget-heading\" data-id=\"90261cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to give<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-365da48 elementor-widget elementor-widget-text-editor\" data-id=\"365da48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul style=\"font-weight: 400;\"><li>Name the Canadian Council of the Blind as the direct beneficiary of your life insurance policy, RRSP, RRIF, or TFSA. Upon your death, the proceeds will be paid directly to the Canadian Council of the Blind without going through probate and without delay.<\/li><li>Or, name your estate as the beneficiary and leave instructions in your Will to donate all or part of these financial instruments to the Canadian Council of the Blind. You may specify a percentage or a specific dollar amount to be donated if you wish. Note: Your trustee will withhold taxes, and probate will apply when choosing this option.<\/li><\/ul><p style=\"font-weight: 400;\">In both cases, a charitable tax credit will be created for your estate, offsetting taxes and possibly enhancing the estate value for other beneficiaries. See the financial institution administering your life insurance policy, RRSP, RRIF, or TFSA to change the beneficiary.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83ed128 elementor-widget elementor-widget-heading\" data-id=\"83ed128\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">An example<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1fb0640 elementor-widget elementor-widget-text-editor\" data-id=\"1fb0640\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Mrs. Jones makes the Canadian Council of the Blind the beneficiary of her RRIF. This leaves a legacy gift of $120,000 to the Canadian Council of the Blind when she dies. Here is what happens:<\/p><ul style=\"font-weight: 400;\"><li>Mrs. Jones creates a future gift for a time when she no longer needs it and has a meaningful impact on the Canadian Council of the Blind.<\/li><li>Her estate receives an immediate tax credit of $120,000, offsetting other taxes of approximately $54,000 that can be distributed to heirs.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2443a3f elementor-widget elementor-widget-text-editor\" data-id=\"2443a3f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Please seek expert advice.<\/strong> The Canadian Council of the Blind strongly recommends that you seek professional financial, insurance, and\/or legal advice to ensure your financial goals are considered, your tax situation is reviewed, and your legacy gift is tailored to your circumstances. A financial or legal advisor should review in detail what plan best fits your needs. Before considering a legacy gift, you should have already satisfied the needs of your family.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ca993a elementor-widget elementor-widget-text-editor\" data-id=\"0ca993a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>For further information<span lang=\"EN-US\">, please contact Braydin Frizell at <a href=\"mailto:bfrizell@ccbnational.net\">bfrizell@ccbnational.net<\/a>.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A Gift of Life Insurance &#8211; Copy Making the Canadian Council of the Blind the beneficiary of a life insurance policy, RRSP, RRIF, or TFSA allows you to create a legacy at the Canadian Council of the Blind once your needs and those of your loved ones have been met. Donating all or part of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-4986","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/pages\/4986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/comments?post=4986"}],"version-history":[{"count":3,"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/pages\/4986\/revisions"}],"predecessor-version":[{"id":4990,"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/pages\/4986\/revisions\/4990"}],"wp:attachment":[{"href":"https:\/\/ccbnational.net\/shaggy\/wp-json\/wp\/v2\/media?parent=4986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}