With the IRCM’s planned giving program, you can get the most from your donation for everyone involved –you, your family and the researchers at the institute. Here is a quick guide to planned giving:
You can make a bequest in your last will and testament by adding the IRCM when you are making a new will or by amending your current will. You may choose to leave a portion of your estate or donate goods or real estate.
By donating a life-insurance policy, you can enjoy tax benefits during your lifetime and name the IRCM as the beneficiary upon your death. If you wish to donate a life-insurance policy to the IRCM, you can do so in several ways:
- Taking out a new policy
The donor takes out a new policy and transfers it to the IRCM. You continue to pay premiums to the insurance company.
- Transferring an existing policy
If you decide that you no longer need an existing policy, you can transfer ownership of that policy to the IRCM. If the policy is not paid up, you continue to pay the premiums.
- Designating the IRCM as your beneficiary
In this case, you remain owner of the policy until your death and designate the IRCM as beneficiary in your will. The insurance policy is not transferred to the IRCM, and you continue to pay the premiums.
The IRCM offers the option of setting up a fund in your name, in the name of a company or group, or in the name of a loved one whose memory you wish to honour. This type of fund can be used in accordance with your wishes. An endowment fund is an ongoing investment, as only the revenue generated by the fund is used to support the designated activity. This type of fund ensures the sustainability of research programs. However, setting up a fund for commemorative purposes does require a minimum amount in the form of a donation or long-term pledge.