Legacy Giving

By leaving a legacy gift to The Stop, you can continue to support our work building a stronger, healthier, more connected community in your lifetime and beyond. This type of giving can also provide important tax benefits for you. Below are a few examples of legacy gifts.


A charitable bequest offers an opportunity to reduce estate taxes while making a gift to The Stop that will express your values and provide continued support for our programs that fight hunger, build hope, and inspire change.

Since a person is deemed to have disposed of everything at the moment of death, there are considerable tax implications for most estates. Taxable income at death includes 50% of any capital gains on appreciated assets or investments (except for your principal residence), and the entire value of an RRSP portfolio (unless a surviving spouse, financially-dependent child or grandchild can take it over).

When a donation is made from an estate, The Stop issues a receipt for the amount of the gift. The Executor can use the receipt to obtain tax credits to offset 100% of income (including RRSP assets and capital gains) from the current tax year and the previous tax year.

Aside from tax considerations, bequests have a number of other advantages as well:

  • They are easy to set up by codicil, a signed and witnessed legal document that amends your existing will, so a new will needn’t be drafted.
  • They are revocable, so if you change your mind, bequests are relatively easy to amend or cancel entirely.
  • Bequests also afford a great deal of flexibility in terms of how the gift is made. Options include a specific sum of money or other asset, the remainder of an estate, or a contingent gift, which allows for a gift only in the event that certain conditions are met, i.e. if other heirs should die first.

Please click here to see sample bequest language.

If you’ve already named The Stop as beneficiary in your will, please let us know. We’d like to thank you for your extraordinary generosity.

Gifts Involving Life Insurance or RRSPs/RRIFs

  1. Gift of an insurance policy today.

Another way to donate to The Stop is to set up a new “permanent” (whole or universal) life insurance policy, or to transfer the ownership of your existing permanent policy to The Stop and then name The Stop as beneficiary. You may choose to continue paying the premiums or have The Stop make the premium payments. This may be especially beneficial to many people who have life insurance policies they no longer need for their originally intended purpose, such as family protection, a business that no longer exists, education, etc.

For tax purposes, there is an immediate tax credit for the amount of the cash surrender value of the donated policy plus any accumulated interest and dividends that are also assigned (less any outstanding policy loan). Furthermore, if you continue to pay the annual premiums on the policy, or contribute the funds to The Stop so that we may pay the premiums, the premium payments will be treated as additional charitable gifts. This enables you to claim an annual donation tax credit for the premiums paid.

Ultimately, a relatively small contribution can turn into a very sizable gift to The Stop on your death. Note that there would be no further donation tax credit at that time on the payout of the life insurance proceeds.

  1. Gift of insurance proceeds through your will.

As an alternative to the above strategy, you may name your estate as beneficiary of your life insurance policy and then include a gift to The Stop in your will equal to the amount of the life insurance proceeds. This method allows you to retain control of your policy so that the beneficiary may be changed by simply amending your will. However, no tax credit is available for the premiums paid, as with the gift of policy noted above.

When your insurance proceeds are paid to your estate, and the directed bequest is paid to The Stop in accordance with your will, a donation receipt would be issued for the amount of the full gift, which would create a large tax credit. This can be applied to reduce taxes payable in the year of death and in the immediately preceding year.

  1. Naming The Stop as beneficiary of your life insurance policy or RRSP/RRIF.

Naming The Stop as the beneficiary of your life insurance policy or RRSP/RRIF plan is another effective way to donate. The proceeds of your life insurance policy or RRSP/RRIF that are designated and paid directly to The Stop are considered to be a charitable gift made by you in your final year. This allows you to retain control of the policy and RRSP/RRIF plan in your lifetime and then receive a tax receipt for the full amount of the gift at your death, creating a large tax credit to reduce taxes payable in the year of death and in the immediately preceding year.

This option further allows the proceeds to pass to The Stop completely outside of your estate, which will eliminate probate fees on the proceeds.