You can support the best care experiences, close to home.
Planning a legacy gift is a meaningful way to care for the people and causes that matter most to you. By including St. Joe’s in your estate plans, you can help shape the future of health care in our community while also creating important tax advantages for your estate.
Our Planned Giving Guide shares the full story. Here, we pulled together a few key highlights on how estate gifts can be a simple, flexible, and impactful way to support St. Joe’s and the patients and families we serve.
* Please, consult your lawyer or financial advisor to determine what financial decisions will be right for you and can help to reduce your estate taxes.
A Gift In Your Will
A gift in your will is a simple and meaningful way to shape the future of care at St. Joe’s. Because it doesn’t affect your current cash flow and can reduce taxes owed by your estate, a bequest allows you to support the people and causes you care about with confidence and flexibility.
Options include:
- Specific Bequest: Leave a set dollar amount to St. Joseph’s Health Centre Foundation of Toronto.
- Residual or Percentage Bequest: Leave the remainder or a percentage of your estate to the Foundation after other gifts are distributed; this option automatically adjusts as your estate changes in value.
- Contingent Bequest: The Foundation receives your gift only if one of your primary beneficiaries passes away before you.
- Testamentary Trust: Set up a trust in your will that supports your spouse or family first, with the remaining capital later directed to the Foundation.
Benefits: Leaving a gift in your will offers peace of mind that your estate is organized, your loved ones are cared for, and your philanthropic wishes are honoured. It’s simple to arrange, doesn’t affect your lifestyle today, and can be directed to an area of care that matters most to you or left unrestricted to support urgent priorities at St. Joe’s. Charitable bequests may also reduce estate taxes by providing valuable credits that help lower your estate’s overall tax burden.
Take the first step in shaping tomorrow by including St. Joe’s in your estate today.
Securities
Donating publicly traded securities—such as shares, mutual funds, or bonds—is a highly tax-efficient way to create a lasting impact at St. Joe’s. By giving securities directly, capital gains tax is eliminated and more of your investment supports patient care. You’ll also receive a charitable tax receipt for the fair market value of your gift, making this a powerful option for both philanthropic and estate planning.
Learn About Gifts of Securities
Gifts of Retirement Funds and Other Registered Accounts
Registered accounts—such as RRSPs, RRIFs, and TFSAs—are often among the most heavily taxed assets in an estate. By naming St. Joseph’s Health Centre Foundation of Toronto as a full or partial beneficiary, you can help offset this tax burden while making a meaningful legacy gift. Updating a beneficiary is simple and can be done directly through your plan provider. If you choose to include St. Joe’s, we hope you’ll let us know so we can celebrate your generosity and welcome you to the St. Joe’s Society.
Benefits:
Legacy gifts through registered accounts allow you to make a larger charitable contribution than may be possible during your lifetime—without affecting your current financial security. You maintain full access to your funds, and your estate receives a tax receipt for the value of your gift, which can help significantly reduce or eliminate estate taxes.
Gifts of Life Insurance
Whether it’s an existing policy or a new one, a gift of life insurance can turn your small monthly premiums into a significant donation. Working with your financial planner, you can set up a life insurance gift that supports St. Joe’s in the future while you enjoy the tax benefits now.
Options include:
- Transfer ownership of a fully paid life insurance policy to St. Joe’s.
- Transfer ownership of a partially paid whole or universal life policy.
- Purchase a new policy and make St. Joe’s the owner and beneficiary.
- Name St. Joe’s as beneficiary of a new or existing policy.
Benefits:
A life insurance gift allows you to make a larger charitable contribution, with added benefits such as anonymity, protection from contesting or creditors, and bypassing probate so your support reaches St. Joe’s quickly and directly.
There are many other meaningful ways to leave a lasting legacy at St. Joe’s.
You may choose to donate property, such as real estate or other assets, with a charitable receipt issued based on fair market value. You can designate St. Joe’s as a beneficiary of your donor-advised fund, or consider pledged giving—making a gift today and continuing your support through your estate. However you choose to give, your legacy can help ensure compassionate, extraordinary care for generations to come.