Many people who have had their lives touched by doctors and staff at the Owen Sound Regional Hospital leave a donation to the Foundation as part of their estate plan. Legacy giving is a thoughtful way to support good hospital care for future generations living in Grey Bruce.
Legacy gifts can include bequests, stocks and bonds, life insurance, charitable trusts, retirement plans or real property. Giving a legacy gift requires thorough planning, involving family members and professional advisors.
Bequest:
A charitable bequest is a gift specified in your will. You can designate a certain amount of money, a particular asset or a portion of your estate to the Foundation. We recommend that you speak to your lawyer to ensure your wishes are set out clearly in your will.
When you designate a specific dollar amount, investment asset or piece of property, you make a "specific bequest". Donating a portion or share of your Estate after all your debts, taxes, expenses and specific bequests have been paid is called a "residual bequest".
See our Healthy Tomorrows page for sample wording for your will.
Download our information bulletin on bequest giving.
Life Insurance:
There are a few ways to use life insurance to make a gift to the Foundation. You can give ownership of a new or existing policy or you can name the Foundation as the beneficiary of the policy. There are different tax consequences for each option.
Download our information bulletin on insurance giving.
Retirement Plans:
You can designate the Owen Sound Regional Hospital Foundation as the beneficiary (or alternate beneficiary, after your spouse) of your RRSP or RRIF plan, or make a donation in your will equal to the proceeds from your plan. Your Estate will receive tax benefits for the donation.
Download our information bulletin on RRSP/RRIF giving.
Trusts:
You can set up a trust fund with your gift. The trust will allow you to enjoy the income from an investment or the use of an asset during your lifetime. You receive a charitable receipt now for the present value of your future gift. Upon your death, the capital or asset is transferred to the Foundation for charitable use.
Please note: This information is available to assist in discussions between you and your professional advisors and is not intended as legal or financial advice. We recommend you seek advice from qualified professionals to decide if making a legacy gift is right for you.
For more information about legacy giving, please contact: Development Officer, Willard VanderPloeg at (519) 372-3925 or via
.