Your generosity will sustain our ongoing work to build the quality of life for our residents.
There are many types of planned gifts, each with different tax advantages, that you and your heirs may benefit from when making a legacy gift. We recommend speaking to a lawyer and/or financial advisor about your charitable giving options, both during your lifetime and as part of your will.
We are happy to provide sample wording for any type of planned gift upon request. If you choose to leave Hawthorne a gift in your will, please let us know at giving@hawthornecare.com.
If you choose to leave a gift in your Will, please identify Hawthorne by its legal name: Port Coquitlam Senior Citizens Housing Society.
Bequests
A bequest is a direction you leave in your Will. Bequests may be stated as a percentage of an estate, as a residual of your estate, or as a specific dollar amount. They may include money, investments, property, or other parts of an estate.
By remembering Hawthorne in your Will, you can build a lasting legacy for seniors in your community.
For sample wording, please reach out to giving@hawthornecare.com.
Securities
Giving a gift of stock, bonds, or property can be an effective way to minimize the tax paid on current income. More importantly, gifts of securities can make a tremendous difference in the lives of the seniors living at Hawthorne at a lower cost to you than making an outright gift of cash.
Your gift of securities can be made as a part of your Will. For sample wording, please reach out to giving@hawthornecare.com.
Real and Personal Property
Gifts of real and personal property such as land, houses, paintings, antiques, rare books and intangible properties will be valued at the fair market value placed on them by an independent expert appraiser. It is the responsibility of the donor to obtain an appraisal of the gift for tax purposes.
Gifts of Life Insurance
Donating life insurance can be a budget-friendly and tax-friendly way to make a large charitable gift with lasting impact. There are several ways to donate life insurance, whether on a new or existing policy:
- You retain the ownership of a life insurance policy and designate Hawthorne as a beneficiary: Your estate will receive a donation receipt for the value of the policy, and Hawthorne will receive the full amount of the gift.
- You transfer ownership of a life insurance policy to Hawthorne: You’ll receive a tax receipt for the cash value of the policy. If you still owe premiums on the policy, you will be responsible for paying them unless you agree to make a separate, tax-deductible gift to cover the premium costs.
- You designate Hawthorne as both the owner and the beneficiary of a life insurance policy; You’ll receive a tax receipt for the cash surrender value of the policy at the time it was donated to Hawthorne. If you still owe premiums on the policy, you will be responsible for paying them unless you agree to make a separate, tax-deductible gift to cover the premium costs.
Charitable Remainder Trust
A charitable remainder trust (CRT) is an irrevocable trust that permits a donor to make a deferred charitable gift and receive an income tax credit in the year in which the trust is established. The donor designates one or more individuals (often the donor and spouse) to receive an income interest in the trust for life, or for a specified term, with the remainder interest (the assets in the trust when income interest ends) passing to Hawthorne.
Hawthorne will work with donors as needed to establish CRT’s. A donor may serve as trustee of the CRT or may designate a bank, charity or other person as trustee.
For more information or sample wording for any of the above gift planning opportunities, please contact giving@hawthornecare.com.
We recommend speaking to a lawyer and/or financial advisor about your charitable giving options, both during your lifetime and as part of your will.