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Planned Giving & Bequests

One of the most thoughtful ways to ensure the BC Lung Association continues to reach out to those with lung disease in the future is to leave a planned gift to the BC Lung Association. This selfless gesture will touch many lives in the years to come.

Planned gifts can be bequests (a gift made in your will), annuities (stocks and securities), life insurance or regular pre-authorized contributions (monthly giving).

Planned giving offers several advantages:

• Maximize your tax credits when you make a gift.
• Offset tax owing on a capital gain when you give appreciated property.
• Eliminate the capital gains tax on gifts of appreciated, publicly-listed securities.
• Reduce taxes payable at your death.
• Create your legacy of support for today... and forever

Your rewards will be more than the tax savings. There are the personal, emotional, and spiritual rewards of helping others. Helping others creates cherished and tender moments that can't be duplicated in any other way.

Would you like more information on planned giving? Your personal circumstances will determine the best structure for you and we will be glad to answer questions and offer suggestions confidentially. Please phone, write or email:

Scott McDonald, Executive Director
British Columbia Lung Association
T 604.731.5864 or 1.800/665.LUNG (5864)
E mcdonald@bc.lung.ca

The information on this web site is intended to provide accurate information regarding planned giving to the Lung Association, but is not intended as legal, accounting, tax, investment, or other professional advice. If such advice is required, the services of a competent professional should be sought.

Wills & Bequests

Your Will is a practical and secure way to leave a legacy for the future.

The importance of having an up-to-date Will cannot be overestimated. Through your Will, you can make provisions for:

• the financial security of your family
• the naming of guardians for young children
• property distribution
• funeral instructions
• financial gifts to causes that you support to ensure that your beliefs live on and the work you supported in your lifetime will continue.

Unfortunately, a high percentage of Canadians die without a Will (intestate). The probate process for an estate without a Will can be costly and time-consuming, and will not take into account your personal wishes and priorities.

By constructing your Will carefully, you can avoid excessive taxes. For example, a charitable bequest can reduce the final tax burden of your estate by as much as 100% of your income in the year of demise and the previous year.

We recommend that you seek the professional advice of your family lawyer and a financial advisor when drawing up your Will. Your lawyer can draft or amend your Will to include a bequest to the British Columbia Lung Association if you choose. Your financial planner can advise you on how to obtain optimal tax benefits for various forms of charitable gifts.

Perhaps you have already made a provision in your Will to leave a lasting legacy to the Lung Association. If so, we would very much appreciate hearing from you, so that we may properly thank you. We assure you that any details you provide will be kept completely confidential.

Life Insurance

For many people, naming the British Columbia Lung Association as a beneficiary of a life insurance policy provides an optimum combination of immediate and long-term tax benefits, affordability, and the satisfaction of leaving a significant sum of money to perpetuate the work we all believe in.

Few other forms of planned giving provide so many benefits to the donor.

Gifts of life insurance can involve old policies which are no longer needed, current policies, or the purchase of new policies. They can be combined with your estate plan to benefit both your estate and your favourite charity.

The amount of the gift is guaranteed and is not reduced due to taxes, probate or administrative costs. Premium payments are eligible for tax receipts, and unlike an RRSP, life insurance is not taxable and is distributed intact after death.

Stocks & Securities

The Canadian income tax system encourages taxpayers to make gifts to charitable organizations through the granting of tax credits.  Thanks to the recent tax changes made by the Federal Government, it's become a more cost effective gift than ever before to donate gifts of securities and stock to The Lung Association.  Donating securities to the British Columbia Lung Association benefits you and your family today, while serving your community for a lifetime.

On May 2, 2006 the Federal Budget exempted charitable donations of publicly listed securities from capital gains tax.  This means that if you transferred gifts of marketable securities such as stocks, bonds, or mutual funds directly to the British Columbia Lung Association, you would not pay tax on the capital gains.  Compared to the usual tax on 50 per cent of the capital gains when a security is sold or transferred, the savings are very clear and the benefits to our charity are exciting!

Suppose you have securities that you previously purchased for $5,000 that now have a fair market value of $10,000.  If you sell the securities, the cash value after capital gains tax and selling commission would be approximately $8,700.  If, instead, you transfer $10,000 in securities directly to the British Columbia Lung Association, the gift would generate a tax credit of $4,400 to reduce tax on other earnings.  Neither you nor The Lung Association would have to pay tax on the capital gains.  Compared to selling the securities and receiving $8,700, the net cost to you of donating the securities is $8,700 less the $4,400 tax credit which equals $4300 to make a gift of $10,000 to The Lung Association.

All securities donated to the British Columbia Lung Association are sold upon receipt, with the net proceeds directed to the area of greatest need or to the fund you designate.  The amount of your charitable gift receipt is determined by the closing price on the day The Lung Association receives the securities into our account. 

Whatever form of planned giving is most appropriate to your own circumstances, each gift assists The Lung Association's long-range financial planning. Your planned gift will guarantee that we will always have the resources to carry on our mission. 

This and other gifting strategies require appropriate planning.  We strongly encourage our donors and supporters to seek the advice of qualified professionals prior to making any planned gift to ensure the best possible outcome for you and our Association.

We would be happy to provide you with additional information about the full range of planned giving options. Your personal circumstances will determine the best structure for you and we will be glad to answer questions and offer suggestions confidentially. Please phone, write or e-mail:

Scott McDonald
Executive Director
British Columbia Lung Association
T 604.731.5864 or 1.800.665.LUNG (5864)
E mcdonald@bc.lung.ca