There are many ways of arranging your assets to benefit your loved ones, reduce your tax burden, and carry on the cultivation of intelligent, vigorous, and joyful followers of Christ around the world.
Regent College recommends talking with your accountant or financial planner about the options listed on this website. For more information, please contact Richard Thompson at firstname.lastname@example.org or 604.221.3314.
John and Sue wanted to leave a legacy gift for Regent College, but they also wanted to retain control of all of their assets until they died in case their life situation changed. So they decided to leave a bequest for Regent in their wills. This gave them the satisfaction of providing for Regent when they pass away, while also reducing their estate tax through a charitable tax credit.
Download the instructions for Completing Bequest or Estate Gifts
David and Joanna wanted to leave a legacy gift for Regent, but they didn’t have a lot of accumulated capital. So they purchased a life insurance policy and made Regent College the sole owner and beneficiary. Their premium payments are considered a donation by the Canada Revenue Agency, so the charitable tax receipt helps diminish their taxes now, while also providing for Regent in the future.
Charitable Gift Annuities
Esther was a widow who needed the money from selling her house to provide a fixed income for her. With the help of her financial planner, she invested in a charitable gift annuity, which would provide a guaranteed (fixed) income payment to her for as long as she needed it, and the balance would be donated to Regent when she passed away. The immediate charitable gift receipt lessened her income tax now, and by removing some of her wealth from her estate to set up the annuity, she also decreased her anticipated estate taxes.
Years ago, Tom had purchased $6,000 worth of a publicly-traded stock that was now worth $10,000. He’d been thinking for a while about making a gift to Regent – so he gave the stock directly to the College. Because he gave it to a registered charity, he didn’t have to pay the capital gains tax, and the large charitable gift receipt resulted in considerable savings on his income tax. In the end, the donation of $10,000 cost him less than $5,000.
Charitable Remainder Trust
Ed and Joan wanted to help their adult children put their grandchildren through college, but they wanted a portion of their estate to go to Regent College. So they set up a charitable remainder trust that would provide (variable) annual payments to their children for a set period of time, after which the principal in the trust would go to Regent College. The income to their children was largely tax-exempt, and the capital gains that accrued on the stocks held within the trust wouldn’t add taxes to their final inheritance.
Charitable Lead Trust
Sam wanted to support Regent now, but ultimately, he wanted all his assets to be divided between his five kids. So with the help of his financial advisor, he set up a charitable lead trust. It provided annual (variable) payments to Regent until his death, and after his passing all the capital would be transferred to his kids. This provided charitable tax receipts now, and minimized the estate taxes so his children could receive a larger inheritance.