The Belleville General Hospital Foundation (BGHF) recently re-launched their Planned Giving Program through an educational session they hosted at the new Towne Place Marriott. Local lawyer Richard Wright and Tax Specialist Kris Himberg-Larsen from Wilkinson & Company presented information regarding new provincial estate legislation and the tax benefits of providing gifts to charitable organizations through estate planning. Retired BGH nurse Kathy Morgan who, along with her husband, have made a provision in their Will for BGHF rounded out the presentation. The presenters spoke to 50 attendees about how to make a charitable gift through a Will, the implications for taxes due on your estate for making such a gift and how it could make you feel knowing your gift will help others, even after your gone.
Remembering BGHF with a bequest through your Will results in your estate being eligible for a tax receipt for the value of the bequest up to a limit of 100% of your net income in the year you die and the preceding year – reducing taxes that would otherwise be due as your estate is settled and leaving more of your assets to be distributed to heirs. Additionally we learned that making BGHF a beneficiary of an insurance policy will provide your estate with a tax receipt in the amount of the death benefit proceeds that are paid to the Foundation.
A charitable bequest, or gift of insurance to BGHF helps our hospital provide up-to-date, second-to-none health care for our community. Donors who contribute through their estate are making a significant contribution to the future excellence of the hospital. These gifts will also support physicians and health care teams working to practice at the top of their skill-set with tools they require to provide patients with the best care available.
The Foundation is grateful for the opportunity to thank donors for their decision to support the hospital with a bequest. We offer a recognition program through our Heritage Society, as a living reminder of those caring individuals whose legacy will make health care better for people they will never meet. There can be no finer tribute to a hospital and community than to demonstrate your confidence in the future through a designation in your Will.
For more information on Bequests, Wills, Gifts of Insurance or the Heritage Society contact Heather Smith at 613-969-7400 ext. 2073 or email@example.com