Leave a Legacy

couple sitting together on a park bench

Make a lasting impact on patient care

A gift in your will helps to ensure that those who come through our doors in the future will receive the same exceptional, patient-centred care you experience today. In fact, your thoughtfulness could make it even better. Anyone can leave a legacy gift to ensure great health care for the future. A professional advisor familiar with your personal circumstances can provide guidance as to what type of gift might be best for you.

Your legacy gift will bring new technology and equipment, fuel medical research and support programs that help people live life to the fullest. You can direct your gift to meet highest priority needs or to a particular area of care. 

We would be delighted to speak with you about including St. Joseph’s in your Will. There is no obligation and your discussion will remain private and confidential. Please contact Sue Hardy at @email or 519-646-6085 ext. 64562.

How to leave a legacy gift

There are many ways to leave a gift to support future care and research across St. Joseph’s through your estate plan. Some of the most common types of legacy gifts include:

A gift in your Will

A bequest in your Will can be included in a new Will or added to an existing one through a codicil. It may be:

  1. A specified dollar amount, percentage amount or share of your estate.
  2. A residual gift – what is remaining after you have provided for loved ones.
  3. Can be distributed if you wish when the last spouse passes away.

A charitable gift through your estate can often reduce the taxes assessed against your estate and may actually increase the inheritance you are able to leave to your family and friends.

A gift of Life Insurance

One of the simplest and most affordable ways to make a significant gift is through a gift of life insurance. As this type of gift is not subject to probate, the resulting charitable donation receipt provided to your estate may help to reduce any taxes that may be owing.

There are a number of options that may provide benefits to you during your lifetime or to your estate.

  1. Name St. Joseph’s as the owner and beneficiary of a new life insurance policy
    Pay the monthly or annual premiums and receive a charitable donation receipt each year for the premiums paid until such time as the policy is paid in full.
  2. Name St. Joseph’s as the owner and beneficiary of an existing life insurance policy
    Transfer ownership of an existing policy to St. Joseph’s Health Care Foundation. If the policy is fully paid up you would receive a charitable donation receipt for the fair market value (FMV) of the policy, or you can defer the donation receipt to your estate. For a policy where premiums are still owing, you would receive a charitable donation receipt for the FMV of the policy as well as an annual charitable donation receipt for your ongoing premium payments until the policy is paid in full.
  3. Retain ownership of a new or existing policy and make St. Joseph’s as a full or partial beneficiary
    When the proceeds of the policy directed to St. Joseph’s Health Care Foundation are received from the insurance company, the Foundation will issue a charitable donation receipt to your estate. Premiums paid on these types of policies are not eligible to receive a charitable donation receipt during the donor’s lifetime.
Donation of Securities

A gift of publicly traded securities made “in kind” during your lifetime or through your estate where you donate the securities directly to a brokerage account of St. Joseph’s Health Care Foundation ensures that you or your estate will not pay tax on any capital gains. You or your estate will receive a charitable donation receipt for the price of the shares on the day they are received into the Foundation’s brokerage account.

Donation of Property

You can give the property outright, place it in trust to retain the use of it during your lifetime, or gift it through your Will. As these types of gifts can sometimes be more complex, our legacy giving staff will work with you and your advisors to design this meaningful gift.

Gifts of RRSP or RRIF

You are able to enjoy your retirement savings during your lifetime and direct any remaining funds to support care and research at St. Joseph’s. As this type of gift is not subject to probate, the resulting charitable donation receipt provided to your estate may help to reduce any taxes that may be owing.

Charitable Gift Annuity

This allows you to make a gift to St. Joseph’s, while at the same time securing guaranteed income for life. An annuity consists of two parts: a gift to St. Joseph’s Health Care Foundation for which you receive a charitable donation receipt and a guaranteed stream of income for you and your surviving partner. 

A minimum of $50,000 is transferred to St. Joseph’s. At least 20 per cent is counted as an immediate donation to St. Joseph’s, for which you receive a charitable donation receipt. The remainder is used to purchase an annuity from an insurance company providing guaranteed income. 

Things you need to know

Our legal name is St. Joseph’s Health Care Foundation of London

Our charitable registration number is BN 11918 3390 RR0001

If you already have a Will, you do not need not rewrite the entire document to include a bequest to St Joseph’s Health Care Foundation. Instead, a simple clause known as a codicil can be used to amend your Will. Of course, we strongly recommend that you consult with your lawyer or estate planner. 

Our contact information can be found here.

  • Dr. Gillian Kernaghan
    Leaving a Legacy

    If you want to know more about making a gift in your will, or other types of legacy giving, send us your questions and someone will get back to you quickly.

    Dr. David Hill