Other Ways to Leave a Lasting Gift

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Written by Sebastian Sadja

February 28, 2023

Gifts of Life Insurance:  There are 3 options:

  1. An existing permanent policy with a cash value can be signed to WE-CAN
  2. A new policy can be taken out by individuals or couples on their lives, or the life of a loved one, and gifted to WE-CAN.
  3. You can make WE-CAN the beneficiary of a life policy.

Please consult with your insurance agent on rules, regulations, and the documentation that needs to be done. 

Gifts of RRSPs and RRIFs

You can make WE-CAN the beneficiary of your RRSPs or RRIFs.  Ask the institution holding these instruments to send you a change of beneficiary form 

2 ways to make a gift of an RRSP or RRIF

  1. Name WE-CAN as the designated primary beneficiary, or as a secondary beneficiary in the event your spouse or other primary recipient should pass on before you.  It is not necessary to amend your will in order to take advantage of this option.  Designating a not-for-profit or charitable beneficiary does not affect your own use of the retirement funds in any way.  The after-tax amount of funds remaining the account upon your demise will go to WE-CAN.
  1. Leave the proceeds of your RRSP or RRIF to WE-CAN in your will. 

Word of Caution:  If you choose to withdraw money from your retirement fund during your lifetime to make a donation to WE-CAN, we recommend that you carefully review the tax implications with your financial advisor.

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