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Make a lasting contribution to help those in need.
This information should not be relied upon as a substitute for professional advice. MCC recommends that you to seek professional legal, estate and financial planning counsel as you plan your gift.
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By supporting MCC through your will, you can help people around the world immediately or, if directed to MCC's Global Compassion Fund, for generations to come. It is crucial for you to plan for the future with a will that directs how you wish to have your estate handled. Wills are not just for wealthy people. Everyone, without exception, should make a will. A bequest (a gift of cash or property made in a will) is a common way that donors choose to make a significant gift to MCC. Gifts of property, while usually acceptable, will normally be converted into cash unless otherwise directed by the Board of Directors of the provincial MCC office or MCC Canada. There are different kinds of bequests but the most common is a General Bequest where MCC receives a specified amount of a gift, usually cash, to be used where it is most needed. It is best to specify a percentage of your estate because your estate will most likely grow over time.
If you own publicly traded securities outside an RRSP or RRIF that have increased in value, you could owe taxes when you sell them. A tax change in the 2006 federal budget means you no longer have to pay tax on capital gains when you donate publicly traded securities (shares, mutual fund units, bonds) to charity. You must donate the securities (in kind) for the tax exemption, not the proceeds from the sale of the securities.
Millions of Canadians carefully build financial nest eggs for their retirement years. Many donors choose to give their RRSPs and RRIFS to charities like MCC at their death. This can be done by designating MCC as the beneficiary of the RRSP or RRIF.
As your circumstances change, existing life insurance policies that once provided important protection may no longer be needed. If one or more of your policies no longer fits your personal financial needs you may want to consider donating the policy to charity.
With a Charitable Remainder Trust you can make a major gift now and continue to enjoy the income from it for the rest of your life. Through the use of a trust funded with cash, securities or real estate, MCC receives whatever remains in the trust after your death.
If you prefer, the trust agreement can be written to cover the life of your spouse as well, or for a specific period of years
MCC's Global Compassion Fund is an endowment fund held and administered by Mennonite Foundation of Canada. The principal of the gift is invested and only the earnings are spent. It is a way of ensuring that your commitment to God's compassion lives on.
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