GIVING A GIFT OF RRSPs or RRIFs
RRSPs and RRIFs offer a creative approach to charitable giving.
A gift from your retirement plan can mean tax savings for you as well as a making a real difference in the addressing the quality of life for people struggling with poverty.
Donating Registered Funds
Over time your RRSP and RRIF have grown in a tax sheltered environment however in the future, they will be one of the most heavily taxed assets you have. Aside from a few allowable roll-overs, 100% of the fund will be taxed as income when it is paid out.
Naming Brunswick Street Mission as a beneficiary of all or a portion of your plan will provide a tax credit which will offset the income tax. You can name Brunswick Street Mission as the sole beneficiary or one of multiple beneficiaries.
The gift is simple to make. Just request a “Change of Beneficiary” form from your plan provider and name Brunswick Street Mission as beneficiary of all or a portion of your RRSP or RRIF.
Contact Us to Learn More
Should you have any questions or require additional information about gifts of RRSPs or RRIFs please do not hesitate to contact us however please be advised that professional advisors are in a unique position to better explore how you can support charitable causes and are an important resource in legacy giving.