RRSPs and RRIFs are among the most highly taxed assets in your Estate. At your death, they are treated as if they had been cashed in all at once. After taxes, your beneficiaries may be left with as little as 50% of the total.
Making charitable gifts preserves the capital in these plans. Because you are making a charitable gift of the plan, 100% of the money goes to the charity.
If you name the beneficiary directly on your plan, the gift will pass outside your Estate, which will save on probate fees. Your Estate receives a 100% tax credit claimable against your final two years of income. Naming CHS can preserve the assets in your Estate for your heirs, and at the same time, allow you to make a significant contribution to a cause you care about.
If you wish to, or already have named CHS as a beneficiary on your RRSP/RRIF, please contact the Manager of Major Gifts and Planned Giving. We would like to recognize your future gift today.