Legacy Giving: Remembering the Niagara Health Foundation in your Will

Healthcare in Niagara is built on generosity. In Ontario, hospital equipment is funded by the community, and our community understands the power of coming together to support exceptional care. All donors make a meaningful difference, and leaving a gift in your Will offers an opportunity to give generously in a way that creates lasting benefits for both yourself and healthcare in Niagara.

Whatever amount you choose to give, your legacy gift will help strengthen the long‑term financial security of our hospitals. In building on the resources accumulated through a lifetime of giving, your legacy will help ensure that current and future patients, and their families, receive the best possible care.

A legacy gift gives you the comfort of knowing your assets are available today while enabling you to leave a larger gift than might be possible in your lifetime and still taking care of your loved ones.

Legacies of all sizes make a real difference. Whatever you feel able to spare in making your will, your bequest will contribute to the future of healthcare in Niagara and help the ensure patients and their families continue to receive top of the line care.

The Niagara Health Foundation is a registered charity (Charitable registration number: 89940 2697 RR000), which means that there are financial benefits to leaving a legacy gift to us.

By remembering the Niagara Health Foundation in your will, you can reduce the taxable value of your assets. This reduces the amount of inheritance tax payable on your estate. Gifts can be in the form of money, property or other valuables.

Wording your Will
We suggest working with your lawyer to use the following wording when donating to the Niagara Health Foundation in your will: Sample Wording.

Contributions marked for ‘urgent patient care needs’ are welcomed. These increase the Foundation’s financial flexibility so that it can meet new challenges as they arise and maximise the benefit of its funds by directing them to areas of greatest need.

 

Bequests for specific departments and needs are also deeply appreciated, and we will be glad to discuss the terms of any proposed gift. Conversations about your gift ensure that we understand your wishes clearly so that we can faithfully fulfil them.

Taking care of your family first
We understand that you will want to provide for your loved ones in your will, and there are types of legacy giving that allow you to put your family first. Your solicitor can advise you on the best way to record your intentions. Should you wish to make a change to an existing will, your solicitor can also advise on using a codicil.

A Gift in your Will
A properly planned Will can reduce or eliminate the taxes on your estate.  It is the easiest, most effective way to ensure the people and causes you care about are provided for and your assets are distributed according to your wishes.  Leaving a gift in your Will, also called a bequest, is a powerful way to affirm your values and build a legacy.

Ways to leave a gift in your will:

  • A gift of all or a percentage of your estate after other legacies, debts, taxes and expenses have been paid. The advantage of a residuary gift is that it maintains its real value, regardless of inflation.
  • A gift of a specific sum of money in your will. While this is very welcome, the disadvantage of such a gift is that inflation may erode its value over the years.

Gift of Stocks and Securities
Donating publicly traded securities that have increased in value when you held them eliminates the capital gains tax you would have to pay if you sold the securities and then donated the proceeds. You will also receive a charitable tax receipt for your donation.

Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares and employee stock options. You can give now or as part of your estate and Will planning.

Consult your Financial Advisor to decide which investments will have the most financial and philanthropic impact. Then, ask your broker to transfer your securities to the Niagara

Health Foundation by completing the appropriate transfer form. Click here to download the Donation of Securities by Electronic Transfer PDF form.

Niagara Health Foundation can also provide IRS-compliant tax receipts to US donors through Charities Aid Foundation America (CAF). Make your donation to CAF America and specify that you are designating your gift to Niagara Health Foundation. You will receive a US tax receipt from CAF America, and the funds will flow to Niagara Health Foundation.

Gift of Life Insurance
Through a gift of life insurance, you can make small payments today that add up to a larger gift for greater impact in the future, at a fraction of the out-of-pocket cost. Depending on your gift structure, you will also receive tax benefits now or through your estate. Unlike charitable bequests, gifts of life insurance are not subject to probate.

Ways to donate life insurance:

  • Name Niagara Health Foundation as the beneficiary of a policy. Your estate receives a tax receipt for the proceeds of the policy.
  • Transfer ownership of a paid-up policy with Niagara Health Foundation named as the beneficiary. You can receive a current tax receipt for the policy’s fair market value or defer the tax receipt for your estate.
  • Transfer ownership of a partially paid-up policy with Niagara Health Foundation named as the beneficiary. You will get a tax receipt for the policy’s fair market value and annual tax receipts for your ongoing premium payments.
  • Take out a new policy with Niagara Health Foundation as the owner and beneficiary and receive annual tax receipts for your ongoing premium payments.

To make a gift of life insurance, contact us and your insurance provider to transfer ownership of a policy, take out a new policy, or change the beneficiary to Niagara Health Foundation.

Join The Legacy Society

In recognition of the enormous contribution made by those leaving a legacy, the Niagara Health Foundation established the Legacy Society in 2022.  It is our way of thanking those generous and far-sighted individuals who choose to remember the Niagara Health Foundation in their Will.

I am limited in what I can give now because you just never know what is going to happen, but a Legacy Gift is something I can commit to. I have talked to my wife about it to ensure she knows my intentions.

Kevin Conway, Legacy Society Member

Want to learn more? We are here to help.

Development Officer, Planned Giving
Lauren Kelly
905-378-4647 ext. 43864
laurenm.kelly@niagarahealth.on.ca

Request More Information

Please select an option:
In recognition of your gift, you will automatically be welcomed as a member of our Legacy Society, included in all our mailings and invited to all our events. Please indicate your wishes for involvement, if you wish to remain anonymous

Frequently Asked Questions

A legacy gift is a gift in any amount made through your Will (bequest, stocks and securities, life insurance) for the future benefit of our hospitals and communities.

If you wish to add Niagara Health Foundation to your existing Will, speak with your lawyer about adding an addendum or supplement to your Will.

Many times, leaving a gift in your Will leaves more of an estate for families because it reduces taxes and probate fees. Speak with your financial advisor to learn about how your personal assets can benefit from a legacy gift.

It is never too soon to begin planning. Our hospitals are planning today for more innovative care delivery in the future. Young people increasingly use life insurance policies or RRSPs as the basis for their planned gifts. So we are planning our future together.

Furthermore, those who designate a gift in their Will receive a lifetime membership to the Legacy Society, a community of likeminded and generous individuals.  Membership includes exclusive invitations to engage with the future of healthcare in Niagara.

There is no set amount for our supporters’ generosity. Planned gifts come in various sizes and various methods of giving, like life insurance policies and gifts of securities. All of our supporters are deeply valued, and every planned gift allows our hospitals to address its most urgent priorities today while planning for our future needs so that we continue to provide extraordinary patient care close to home.

All gifts to the Niagara Health Foundation can be made in complete anonymity. Our Foundation safeguards our supporters’ privacy, and for those who do not seek recognition, we respect your privacy and will keep your gift confidential.

A legacy gift offers you significant flexibility. There is no cost to you in your lifetime to leave a bequest in your will, and you can make adjustments to your Will in your lifetime.  If you would like to add to your gift, designate a medical area, revise your recognition plan, or make other changes, please get in touch our Development Officer, Lauren Kelly at LaurenM.Kelly@NiagaraHealth.on.ca or 905-378-4647 ext. 43864.

Yes, you may make your planned gift in honour of any of our dedicated caregivers—from physicians to nurses—or a family member. Recognition plaques come in various sizes, depending on the gift threshold.

For Lawyers, Estate Trustees and Financial Advisors

We appreciate and respect your client’s decision to make a meaningful impact on the future of local healthcare, and your support of their generosity. Your help and careful planning will enable them to make a much larger gift than they could during their lifetime and reduce – or even eliminate – the tax burden on their estate.

Niagara Health Foundation accepts many forms of donations, including residual and specific bequests, life insurance, RRSPs and RRIFs, securities, and property.

We will be pleased to work with you to be the recipient of Endowment Funds and Donor Advised Funds, Charitable Annuities, or Charitable Remainder Trusts, each with its unique features and benefits.

With your help, your clients can create the legacy of their wishes.

Documents:

Legal name: Niagara Health Foundation
Address: 1200 Fourth Ave., St. Catharines, ON L2S 0A9
Charitable Registration Number: 89940 2697 RR0001

There are many ways to support healthcare in Niagara.