Types of Planned Giving

Gifts for Tomorrow

Planning is about today, but the benefits are about tomorrow. It’s the same with planned giving to Lakeland College.  

A planned gift is a charitable gift that you plan for now, but is not received by Lakeland College until a later date.  

Making a planned gift can be a way of making a very personal statement about the values you have embraced throughout your lifetime. Planned gifts outlast your lifetime. We would be honoured to be part of your personal legacy.  

There are many different types of planned charitable gifts: bequests, life insurance, charitable remainder trusts and charitable gift annuities (see the drop down below for details).  

Making a planned gift can also provide significant tax benefits for you and your loved ones. Professional advisors can assist you in making the best decision for your estate and financial plans.  

If you’d like to discuss the many opportunities to make a lasting difference through a planned gift, please feel free to contact our development office by calling 1 800 661 6490 ext. 5732, direct in Lloydminster at 780 871 5732 or email donations@lakelandcollege.ca  

Please note: Your privacy and right to give anonymously will be respected. Please see our donor privacy and donor bill of rights pages.

Bequests By Will
Often described as the ultimate gift, because you plan through your will a bequest of cash or property.   Bequests are a common method of planned giving. For you, it’s part of your own estate planning.
Charitable Gift Annuity
A Charitable Gift Annuity plan combines the donor’s gift to Lakeland College with an annuity.   Lakeland College would purchases the annuity, through a licensed insurance company, on behalf of the donor. Guaranteed annuity payments continue throughout the donor’s lifetime, unaffected by changes in the economy or interest rates.   If the donor wishes, the annuity can be written to cover the donor and spouse through both lifetimes.
Charitable Remainder Trust
When an individual establishes a trust that is funded with securities, real estate, or cash, making an irrevocable gift of the remainder interest to a charity, they are creating a Charitable Remainder Trust.   Advantages derived from this type of gift include things such as personal tax benefits, a lifetime income, and no probate fees on the asset placed into the trust.   You should discuss this option with your financial planner.
Life Insurance
Life insurance may be a planned gift vehicle that works best for you if you answer “yes” to any of the following questions: Would you like to make a large gift to Lakeland College but are unable to give up large amounts of cash due to business and/or family situations? Would you make a substantial gift to the College if it could be done without diminishing your estate? Does your financial portfolio include a Life Insurance policy purchased under financial circumstances that are no longer relevant? Also check out our charity life insurance option.
Preferred Shares in Private Corporations
Many individuals have chosen to support charities including post-secondary institutions by making gifts of preferred shares in private corporation.   There are a number of very exciting tax benefits resulting from this type of gift, and future monetization (redemption) of the shares can be arranged in a variety of ways that are beneficial to the donor, the donor’s family, the donor’s company and the College.   As with other types of planned giving, you should consult with your financial advisor about the benefits and opportunities.
Publicly Traded Securities
If you’d like to make a meaningful gift to Lakeland College, but are hesitant because much of your wealth is invested in a highly appreciated stock portfolio—there may be an alternative.   The 1997 Federal Budget has made gifting of publicly traded securities an attractive option. For this type of gift, the taxable portion of any capital gain is reduced from 75% to 37.5%.   In other words, a donor making a gift of publicly traded securities would receive a tax receipt for the full value of the stock, but the taxable capital gain would be reduced by 50%, thus allowing more of the resulting tax credit to be used to offset other income.   Check with your financial advisor if this could be an option for you.
Residual Interest
This option gives you the best of both worlds. You make a gift, but continue to enjoy that property for your lifetime.  This type of gift occurs when an individual irrevocably gifts a piece of property--usually real estate or art work--to a charity, but retains the right to use that asset for the rest of the donor’s life, or for a specified period of time.   Donors can, for example, convert a valuable art collection into current tax credits, but continue to enjoy their treasures for as long as they live
RRSP, RRIF, Pension or Annuity Proceeds
Many individuals have, as part of their retirement plan, tax-deferred tools such as RRSPs, RRIFs, pensions or annuities.   When you prepare a retirement and estate plan, the current tax regulations present some special opportunities with respect to charitable giving and taxation. Those regulations state: “in the year of death, donations of up to 100% of taxable income are deductible on the final tax return, with any unused portion allowed to be carried back to the previous year.”   Check with your financial advisor about this option.
Stripped Bond Coupons
Compound interest, even with today’s lower interest rates, makes monetary magic.   By purchasing and giving a stripped bond coupon to Lakeland College today, you can create a future gift 2, 3 or even 5 times larger than what you initially invested.   Your financial advisor can explain the advantages of this type of planned gift over other types.