There are many ways one might donate through planned giving.
Through Your Life Insurance Policy
Through a Life Insurance Policy, you may:
- Transfer of ownership of a paid-up policy. Many Islanders purchased a life insurance policy years ago to provide family security when their children were young, or to back a loan to start a new business or to buy a property. Now the children are grown, the loan has been repaid, and there are no more premiums on the policy. If the policy is no longer needed, consider donating that policy to the Stars for Life Foundation for Autsim and you will be entitled to a charitable donation receipt for the fair market value of the policy.
- Transfer ownership of an existing policy with premiums still owing. Donors who feel that their other investments are sufficient to meet family and business needs may want to consider donating an existing policy to the Stars for Life Foundation for Autism with premiums still owing. You will receive a charitable tax receipt immediately for the value of the policy and a charitable receipt for all future premiums that you pay after that time.
- Purchase a new life insurance policy and name the Stars for Life Foundation for Autism as owner and beneficiary. Donors who want to make a larger future gift could purchase a new whole or universal life policy and name the Stars for Life Foundation for Autism.
Leave a gift in your Will
- Your Will is an essential part of your estate plan. Without a Will, provincial laws will dictate how your assets get distributed. No matter the size of your estate, with a Will, you control how your estate is disbursed. Making your Will is really about your life, not your death; it is about your interests, not your assets. It is a great way to express your personal values and beliefs. The process of making an estate plan provides clarity and support for your family and community. Some people think they must choose between leaving a gift to their family or their charity of choice. In fact, you can do both and some charitable gifts may result in savings that will allow you to have more money to give away. By planning ahead, you can help reduce the amount of tax owing by your estate and preserve as much as possible for your heirs.