The Gift of a Lifetime
Variety’s planned giving program is available for individuals who wish to make a charitable contribution to benefit children with disabilities. This may be done through a charitable “bequest” from your will, or through a life insurance policy naming Variety – The Children’s Charity as a beneficiary. Together we can provide help for generations to come.
A charitable gift tax receipt can be issued for these donations at the time of their receipt, and may represent sizeable tax benefits to you and your estate. Before you decide on your planned giving donation, we recommend that you consult with a professional financial planner or tax advisor for the best options to suit your personal circumstances.
A bequest is a gift or donation made through your will. There are several types of bequests:
If you are having a will drafted for the first time or if you are considering changes to your current will, your lawyer can include a bequest to Variety – The Children’s Charity.
If your current will meets your needs but you want to add a bequest to Variety – The Children’s Charity, the simplest way to do this is to add a “codicil.” The codicil will retain all the provisions of your existing will and incorporate any additions or modifications.
Recent changes in legislation allow for a charitable gift bequest to receive tax credits up to 100% of the net income of your estate. This can have significant implications to your current estate planning.
Life Insurance: An Existing Whole Life Policy
If you have an existing policy that is surplus to your needs, you can change the ownership and beneficiary to Variety – The Children’s Charity. If you choose to continue making premium payments, Variety will provide you with an annual charitable tax receipt for that amount. In addition, there could be a tax receipt equal to the cash value of the life insurance policy.
A New Policy
You can take out a new “whole life” insurance policy making Variety – The Children’s Charity the owner and beneficiary, thereby receiving a tax deductible receipt for the entire annual premium.
There are many advantages to using a life insurance policy to make a planned giving gift to Variety:
If you have any questions or would like more information, please contact Eric Perry at firstname.lastname@example.org or (610) 584 - 4366