Thoughtfully planned gifts form the financial foundation for the future of programs, services and research provided by the Alzheimer Society of P.E.I.

There are different ways to set aside a portion of your assets to benefit both you and the Alzheimer Society of P.E.I.. Each method can be individually designed to meet your financial and personal needs. Some methods provide a tax receipt immediately, while others provide future benefits to your estate.

Review each option and method available with your tax adviser or lawyer and the Alzheimer Society of P.E.I.:

• Will Bequests
• Gifts of Life Insurance
• Charitable Gift Annuity
• Charitable Remainder Trust Gifts
• Gifts of Residual Interest

Will Bequests

Wills offer donors a way to make a gift that may not have been possible during their lifetime. Your Will can reaffirm your commitment to our goals.

A charitable bequest in your Will can be in the form of a specific sum of money, a particular piece of property, or a percentage of whatever remains after expenses and other bequests are paid. Bequests can provide significant tax relief for estates, thereby making more income available for yours heirs and beneficiaries. Ask the professional drafting your Will for more information, and contact us to ensure your Will is worded correctly. back to top

Gift of Life Insurance

A gift of life insurance can reduce your tax bill and make a significant contribution to ensure Alzheimer Society of P.E.I. programs and services continue well into the future. Here are two ways you can do it:

1. Name the Alzheimer Society of P.E.I. as the owner and beneficiary of an insurance policy.

This option allows you to leave a substantial gift to support the Alzheimer Society of P.E.I. upon death, while receiving an immediate tax credit for the amount of your premiums and the cash value of the policy.

This type of gift also entitles you to a donation receipt from the Alzheimer Society of P.E.I. for all premiums paid after you set up and/or assign the policy, and for the policy's cash value (if one exists). However, there are no tax benefits to your estate when the Alzheimer Society of P.E.I. ultimately receives your gift.

How can I do this? You can name the Alzheimer Society of P.E.I. as the owner and beneficiary of an insurance policy, on a new policy application form, or for an existing policy by filling out an assignment form and beneficiary change form, which you can obtain from your insurance company.

2. Name the Alzheimer Society of P.E.I. as the beneficiary of a new or existing policy.

You may name us as:

• a primary beneficiary of all, or a fraction of, the policy's proceeds; or
• a contingent beneficiary in the event that your primary beneficiaries predecease you.

If the Society becomes the ultimate beneficiary of the policy, your estate will receive a charitable receipt. In addition to naming the Alzheimer Society of P.E.I. as a beneficiary of your plan, death benefit proceeds will be paid to the Society directly, thus avoiding the claims of creditors, other beneficiaries and probate fees.

How can I do this? You can get a beneficiary change form from your insurance company. back to top

Charitable Gift

A prescribed charitable gift annuity can benefit you and the Alzheimer Society. Depending on your age, a charitable annuity allows you to give a gift, save tax and increase your income.

Annuities can be particularly appealing for people age 70 and over. With a charitable annuity, you can receive a predetermined monthly amount for life without having to manage your investment.

How it works: A charitable gift annuity is a simple agreement between the Alzheimer Society of P.E.I. and you. It is not an investment, but it does allow you and/or another designated annuitant to receive fixed payments for life.

In exchange for your gift, the Alzheimer Society of P.E.I. buys a prescribed lifetime annuity for you from a licensed insurance company under the terms of the Income Tax Act.

The amount of your annuity depends on your age, gender, interest rate and the size of the contribution you wish to make.

After we pay for your annuity, the balance of your contribution becomes your gift to us. We'd also be pleased to work with you on designating your gift to a specific program or service.

Benefits to you:

• The rate will likely be significantly higher than what you're receiving from your guaranteed interest income.
• The annuity is guaranteed; it will continue as long as you live, no matter what happens to the economy or interest rates. Payments can be paid on a monthly, quarterly, semi-annual or annual basis.
• If you're married, you may choose a joint-and-survivorship annuity that will continue as long as either spouse lives.
• Given the recent changes in the tax treatment for prescribed gift annuities, you receive a much larger donation receipt for tax credit purposes. And for most older annuitants, a sizeable portion - if not all - of the annuity payments will be tax free. back to top

Charitable Remainder Trust

A charitable remainder trust allows you to donate to the Alzheimer Society while you continue to use the property and/or receive income from it.

Cash, bonds, real estate or securities are transferred irrevocably to a trust account managed by a trustee. If your property is income-producing, the net income will be paid back to you or any other designated beneficiary.

When the trust ends - either at death or at the end of a specified term - the remainder is distributed to the Alzheimer Society of P.E.I..

Because these assets do not form part of your estate, this is a great way to reduce probate fees and, from a tax standpoint, the trust is particularly beneficial for people age 70 and older. back to top

Residual Interest Gift

A residual interest gift refers to an arrangement under which real estate or personal property, such as a home or parcel of land, is donated to the Alzheimer Society of P.E.I. while the donor retains the right to use the property for life, or for a specified period of time.

As the donor, you would receive a charitable receipt for the property's present value. back to top