Atid CHAI is Associated’s new planned giving program to create awareness of various deferred gift options that will define your legacy to AHS and offer significant tax advantages. By planning your estate now, you can ensure that your loved ones are looked after while also supporting the future of education at Associated.
You will find that there’s a planned giving vehicle for everyone – small or large donations from donors young and old. The options are outlined below. Please contact Jennifer Singer for more information on Atid CHAI: 416-494-7666, ext. 653 or jsinger@ahschools.com. We also encourage you to speak with your financial advisor.
Note: depending on the size of the legacy gift, you can establish an endowed fund in your name or the name of a loved one to support AHS in perpetuity.
| Objective | Details | Benefits | |
|---|---|---|---|
| BEQUESTS | Leave a specific amount or percentage of your estate with the ability to make modifications. | Name AHS as a beneficiary in your will, or as a contingent beneficiary of your estate if other beneficiaries do not survive you. | Your estate may claim gifts in the year of death equal to 100% of your net income in that year and the preceding year. |
| LIFE INSURANCE | Make a difference in an affordable way while building up a significant future legacy. | Donate an existing policy: receive a tax receipt for the net cash surrender value and any premiums paid after the donation date. Donate a new policy: receive a tax receipt for any premiums paid after the donation date. Assign AHS as the beneficiary of your individual or workplace insurance policy: your estate receives a charitable tax receipt. | * Pay affordable annual premiums, which convert to a large gift in the future.
* Receive a charitable tax receipt. * Gifts of life insurance are not included in probate. |
| CHARITABLE REMAINDER TRUST | Retain access to your investment income stream, while receiving immediate tax benefit. | A charitable remainder trust (CRT) is a “split interest” giving vehicle that allows you to make contributions to the trust and be eligible for a partial tax deduction, based on the CRT’s assets that will ultimately pass to AHS.
To do this, donors Irrevocably transfer assets (money, securities, etc.) into a trust to be managed by a trustee/financial institution or lawyer. | *Your gift can be kept private, as CRTs are not part of your will.
*Charitable remainder trusts are not included in probate. *If all or the majority of your estate is intended for charity, a CRT ensures you maximize your charitable tax receipts. |
| RRSPs and RRIFs | Once you have taken care of your needs and those of your loved ones, donate your registered assets to AHS. Retain ownership of the funds during your lifetime, receive a tax receipt for the value, avoid probate fees by removing these assets from your estate, and reduce your overall estate taxes. | The value of your retirement plan is removed from your estate, which can greatly reduce the tax owing on your final CRA tax return. | Retain ownership of the funds during your lifetime, receive a tax receipt for the value, avoid probate fees by removing these assets from your estate, and reduce your overall estate taxes. |
| DONOR-ADVISED FUND (DAF) OR PRIVATE FOUNDATION | Donate to AHS via your foundation or set up a DAF now and arrange for the remainder or a percentage as part of your legacy. | DAF donors can pre-schedule grants, set up recurring donations or add AHS as a charitable successor. | With private foundations, donors can make decisions about how the assets are managed and invested. DAFs have less paperwork; community or bank foundations handle all due diligence and reporting, simplifying organization and administration. |
These descriptions are informational only and do not constitute legal or tax advice. Please consult with a tax or estate professional to understand how one of these options will personally impact you.
