Do you have money saved in an employee pension plan, a RRSP, a RRIF or tax-sheltered annuity? Each of these retirement plan assets contains income that has yet to be taxed. If you die with retirement plan assets in your estate, those assets may be subject to taxation (retirement plan assets can be rolled-over tax-free to your spouse, common law partner, a financially dependent child or grandchild).
You can maximize the value of your estate by using your retirement plan assets to make a bequest to a charitable organization. The total amount (or designated portion) will be given directly to the charitable organization and your estate will receive a charitable donation tax receipt for the total amount that has been gifted.
You can provide for your loved ones with less heavily taxed assets and use your retirement plan assets to establish a fund at the JCFC that will help to support the causes and organizations that have been meaningful to you and your family. Through this reduction of final income taxes, the after-tax cost of making a gift will be much lower than the value of the gift itself.