Advance cancer treatment for generations to come while taking advantage of strategic tax benefits.
Registered fund beneficiary designations are a great way to make a lasting impact on cancer care while ensuring you’re also taken care of.
By naming The Princess Margaret as a beneficiary of your Retirement Savings Plan (RRSP), Registered Retirement Income Funds (RRIF), or Tax-Free Savings Account (TFSA), you may be able to reduce taxes on your individual income or your estate, possibly leaving more for your loved ones.
Typically, these assets are the most heavily taxed when transferred to the next generation. However, they should not be subject to fees, such as probate and Trustee compensation, as they often fall outside of your estate. That means you can pass along these tax benefits to your loved ones, too.
Legal Information
Gifts by Beneficiary Designation
It’s easy to put your retirement savings plan (RRSP), registered retirement income funds (RRIF), Tax-Free Savings Accounts (TFSA), mutual funds, life insurance, or other financial accounts to use in building your own legacy to help create a world free from the fear of cancer through The Princess Margaret — and it costs nothing now.
By naming The Princess Margaret Cancer Foundation as a beneficiary of these assets, you can ensure that your light continues to shine, fuelling the discoveries and compassionate care that are transforming cancer outcomes for patients here in Canada and around the world.
Potential benefits of gifts by beneficiary designation:
- Reduce or eliminate taxes
- Reduce or avoid probate fees
- No cost to you now to give
- Create your legacy with The Princess Margaret Cancer Foundation
Types of Gifts
A Gift of Retirement Funds (RRSP or RRIF)
You can simply name The Princess Margaret Cancer Foundation as a beneficiary of your retirement savings plan (RRSP) or registered retirement income funds (RRIF) to help patients for years to come.
You may be able to reduce taxes on your income and your estate, possibly leaving more for your loved ones.
A gift of funds remaining in your bank accounts, brokerage accounts, or certificate of deposit (CD)
This is one of the easiest gifts to give and one of the most useful in accomplishing what you want – to create a world free from the fear of cancer. The next time you visit your bank, you can name The Princess Margaret Cancer Foundation as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward transforming the future of cancer care.
Donor-Advised Fund (DAF) residuals
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name The Princess Margaret Cancer Foundation as a “successor” of your account or a portion of your account value, you help The PMCF change how the world understands, prevents, diagnoses, and treats cancer.
Savings Bonds
If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the value of the bonds in which you invested. Since The Princess Margaret Cancer Foundation is a tax-exempt institution, naming us as a beneficiary means that 100% of your gift will go toward keeping the fire burning for cancer patients who need it most.
How to update a beneficiary designation:
Simply contact your bank, retirement plan administrator, insurance company, or other financial institution to request a beneficiary designation form. You may also be able to log in to your account and update your beneficiaries online.
Please use our legal name: The Princess Margaret Cancer Foundation
Include our charitable registration number: 88900 7597 RR0001
Please let us know so we can ensure that your wishes are carried out.
