You can name Cystic Fibrosis Canada as the direct beneficiary of your registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) and/or pension plan. These are assets that are not included in your estate and not subject to probate fees. This is a popular way to offset taxes owing on funds at the time of death.
Your gift is treated as a charitable donation in the year of death and is eligible for a charitable tax credit on your final tax return. The tax credit may completely offset the taxes payable on the proceeds.
Simply name Cystic Fibrosis Canada as a direct beneficiary on the plan document and advise the institution holding your retirement account of the change.
For more information, call 416-485-9149 or 1-800-378-2233 ext. 294 or e-mail the Campaign & Major Gifts Specialist.
The information provided on this Web site is general in nature and is not intended as legal or tax advice. Cystic Fibrosis Canada can help you realize your wish to support cystic fibrosis research and care in Canada by working with you and your financial and/or legal professional advisors.