The gift you consider making today through your estate planning will make a profound difference to the quality of life for someone else in the future. In fact, it is very possible that your gift might save the life of a new born baby, support a teenager needing therapy, care for an adult needing surgery, or ensure a senior receives the needed quality care. Your gift can be a living legacy and an investment in a healthy tomorrow.
We recommend that you engage your financial or legal advisor to help create your bequest to the South Okanagan Similkameen Medical Foundation for your medical facility. Together with your family, this professional can help you make the decisions regarding what you want your legacy to be, how much you can afford to give now, and how your estate can have the best advantage of tax planning.
What options are available for an Estate Planning Gift?
Gift Restrictions
- Unrestricted Gifts: If you wish to meet the most critical needs of the South Okanagan Similkameen Medical Foundation, we recommend that your gift be identified as “for the greatest need”.
- Designate your gift; you can designate your gift to any of the 16 healthcare facilities supported by the South Okanagan Similkameen Medical Foundation, or you can designate how your gift is to be invested through stating “equipment” or “research” as your preference.
- Designating your gift to a medical department: as we support over 70 departments at the Penticton Regional Hospital and at other health care facilities, you can designate your gift to a specific department. Please check with us to ensure the proper department names are used.
Gift in your Will
If you would like to support the mission of the South Okanagan Similkameen Medical Foundation in your Will, you can set aside a certain dollar amount or designate a percentage of the residue of your estate for the South Okanagan Similkameen Medical Foundation. You can also bequeath a specific piece of property like a home, securities or other financial assets. The tax benefits derived from these gifts are often quite substantial.
If you intend to leave a gift in your Will – large or small – to the South Okanagan Similkameen Medical Foundation, the process is quite straightforward. It is simply a matter of preparing a Will and including a phrase about your intention.
Sample phrases for your Will
“I give to the South Okanagan Similkameen Medical Foundation ____% of the residue of my estate (or the sum of $______) for purposes determined by the Foundation for the Penticton Regional Hospital.”
If you designate your gift for a specific facility, you might include the phrase: “I give to the South Okanagan Similkameen Medical Foundation ____% of the residue of my estate (or the sum of $______) for __________.” for purposes determined by the Foundation for (name of one or more of the health care facilities).
Life Insurance
When you give life insurance, even a relatively small commitment can have significant benefits for South Okanagan Similkameen patients and you. There are many ways to make a gift using life insurance. Give ownership of a new or an existing policy to the South Okanagan Similkameen Medical Foundation, or simply name the Foundation as the beneficiary.
For more information on leaving a legacy:
Call the South Okanagan Similkameen Medical Foundation
Phone (250) 492-9027
Toll Free (866) 771-0994