Bequest

The most common type of deferred gift is the charitable bequest.  It can be as simple as a sentence or two in your will, or a codicil appended to your present will.  Your bequest may specify a certain sum of money or a piece of land for Habitat Home building programs:  "I give to Habitat for Humanity York Region the sum of $_______ to be used for its general purposes" or "I give to Habitat for Humanity York Region ______ land located at _______ to be used for its home building program."

If you prefer, you may give a particular asset - "my shares of XYZ stock" - or a portion of your residue of your estate after other bequests have been paid - "50% of the rest, residue and remainder of my estate." In consultation with Habitat York, you may designate a particular purpose for which your bequest is to be used, and you may indicate whether your bequest is to be available for immediate use or held as an endowment.  Your estate will be entitled to a donation receipt for the full value of the bequest, which may significantly reduce the tax payable with your final income tax return.

Life Insurance

A gift of life insurance can provide a significant future gift to Habitat York at a very modest, present cost to you.  You may make such a gift with either an existing policy or a new one.  You may also give the death benefit of an existing policy simply by naming Habitat for Humanity York Region as the beneficiary.  However, to receive a current tax benefit, you must also transfer ownership of the policy to Habitat York, which entitles you to a donation receipt for the cash value of the policy.  When you make Habitat York the owner and beneficiary of a new policy, you receive a donation receipt for every premium you subsequently pay.  At your death, Habitat York will receive the proceeds.

How to Proceed

Contact your lawyer, financial advisor or broker

Habitat York encourages you to review this information with your advisors to find the appropriate type of gift that best suits your ultimate goals. Habitat York also advises you to involve/inform your family/relatives/Executor of your wishes.  When you are ready to proceed, we will be pleased to assist you in completing your gift.

Contact Katherine Alyea, Director of Development, Habitat York

Phone: 905-868-8722 x26

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

**Please note that the information provided is general in nature.  We encourage that you contact and consult your own legal and financial counsel in the development of your own financial estate plans.