Bequests and Endowments

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Bequests and Endowments

By including a gift to The County Foundation in your Will, you can shape the future of Prince Edward County for the better. This ensures your generosity will continue to make a significant difference in our community.

Leaving a gift to a charity as part of your Will can have many benefits

Reduce Estate Taxes: Many worry that leaving money to a charity will reduce the amount they can give to their family. But giving through your Will allows you to give money to a charity that would otherwise by given to Canada Revenue Agency in taxes.
Easy Process: Everyone, regardless of income or assets, should have a Will. Setting up a charitable gift through a lawyer or financial advisor involves a simple conversation and adding a few sentences to your Will.
You Can Give More: Giving through your estate provides you with the ability to contribute to the causes closest to your heart in a way that surpasses what was possible during your lifetime.

What is a Bequest?

Bequests are gifts that are made as part of a Will. Most of us (at some point) will go through the process of creating or updating a Will. A bequest is a direction that you put in your Will that says you would like to give a donation and you get to decide what that looks like.

What is an Endowment Fund?

An Endowment Fund is a permanent fund established where money is invested for charitable purposes (like providing grants in the community). Endowments provide a long-term, predictable income which can help to pave the way to lifelong sustainability.

Ways You Can Give

Gift in Will

Create a thoughtful and deliberate plan for your estate giving. Here is some suggested sample wording to include in your Will.

If you are interested in creating a fund with The County Foundation with a bequest, you can set up a meeting with our Executive Director Dominique Jones (ed@thecountyfoundation.ca) who can discuss your goals and objectives.

Securities

Donating stocks, mutual funds, or other types of marketable securities to a charity eliminates the capital gains tax that you would have paid if you sold the securities and donated the proceeds. You will also receive a tax receipt for the full amount of the gift. For electronic transfer, please contact your bank or financial advisor to fill out a Securities Transfer Form.

Life Insurance

Life insurance gifts are an affordable way to make a significant donation. You can contribute a policy you already have, include The County Foundation in a shared policy with your spouse, or purchase a new policy to donate.

Retirement Funds

Retirement funds often face high taxes. However, designating The County Foundation as a beneficiary can make your estate plan tax-efficient. Here’s how it benefits you:

You keep control of the funds
You get a tax receipt for the total donation
You skip probate fees
Your estate taxes are lowered

Next steps to make a Legacy Gift

Call or email us – It’s a good place to start. The County Foundation can work with you to create a personalized plan that aligns with your philanthropic goals and ensures your giving has the greatest impact possible in the community.
Speak to your professional advisors – Consulting with experts can provide you with informed guidance on how to leave a legacy. Start your journey by discussing with professionals you trust.
Update your Will – Decide whether you want to give a percentage or specific amount of your estate to The County Foundation and update your Will with the recommended wording from your legal advisor.
Let us know your decision – You are under no obligation but letting us you have chosen to leave a gift to The County Foundation in your Will allows us to plan on how those funds will be distributed most effectively in the community.