Dedicated to Dance – Legacy

Legacy Bequest

A gift of an exact dollar amount. It can also be a particular asset, such as the stock of a certain company, a house or a car.

“My estate trustees shall pay the sum of $ ______ (or transfer assets with an equal value) to Seismic Shift Arts Society*, Vancouver, BC, to support its highest priority needs.”

Residual Bequest

A gift of all or a percentage of your estate after all debts, taxes, administrative expenses and specific/legacies bequests have been paid. Because this type of gift leaves a percentage rather than a fixed amount, inflation will not reduce the value of your gift.

“My estate trustees shall pay ______(all or %) of the residue of my estate to Seismic Shift Arts Society*, Vancouver, BC, to support its highest priority needs.”

Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares, and employee stock options.

If you own publicly traded securities outside of a registered account (RRSP, RRIF, TFSA), that have increased in value since you purchased them, you can donate them directly to DanceHouse with no tax on the capital gain. If you sold your shares during your lifetime, you would be taxed on 50% of the capital gain. 

Consult your financial advisor to let them know your intention to donate securities to DanceHouse. When it comes time to carry out your will, your executor would be responsible for transferring the securities to DanceHouse. A tax receipt will then be issued to your estate, thus saving on capital gains.

Designating DanceHouse as a beneficiary of your registered plan is a straightforward and meaningful way to leave a legacy gift. Your estate will receive a charitable tax receipt to offset any taxes owing when your plan is deregistered.

You can provide for your family and donate to DanceHouse by naming more than one beneficiary.

To plan a gift of an RRSP or RRIF, obtain a change of beneficiary form from the plan administrator or your financial advisor and name Seismic Shift Arts Society* as a beneficiary of all or a percentage of your RRSP/RRIF account.

Giving the gift of life insurance may enable you to amplify your giving power, increasing your impact in the community. With a gift of life insurance, you make periodic premium payments that can turn into a major gift. 

You can donate a life insurance policy in one of the following ways:

• Name Seismic Shift Arts Society* as the beneficiary of an existing policy. This is a good option if you already have a policy. DanceHouse will receive the policy proceeds and your estate will receive the tax benefits.
• Take out a new policy in the name of Seismic Shift Arts Society*. You’ll receive a charitable tax receipt for the cash value of the policy and for any premiums you pay.
• Transfer ownership of an existing fully-paid policy to Seismic Shift Arts Society* and receive a charitable tax receipt for the cash value of the policy. 
• Transfer ownership of an existing partially-paid up policy to Seismic Shift Arts Society* and receive a charitable tax receipt for the cash value of the policy. You’ll immediately start receiving tax receipts in the amount of your payments for the annual premiums.

Real estate can be an effective way to make a substantial gift to DanceHouse with significant tax benefits. You can give the property outright, place it in trust to retain the use of it for life, or gift it by will. 

Another way to give through real estate is to set up a charitable remainder trust, which enables you to receive immediate tax savings while retaining use of the asset. To do this, transfer a property into a trust to be managed by a trustee (a financial institution, a lawyer, yourself, or other individuals). Then, name Seismic Shift Arts Society* as the remainder beneficiary in trust. This will ensure that your property is transferred to DanceHouse when the time comes. In short, this method allows you to use the property or receive income from it during your lifetime, while receiving a tax receipt you can use today.

After discussing with your financial advisor, contact us to indicate your interest in giving real estate. 

An endowment fund is an investment that uses the earnings from the investment to fund its operations, without touching the principal. 

Although endowment funds can be a valuable asset, the interest payments from an endowment can end up having less impact than you may intend. If you are considering setting up an endowment fund, we would love to first discuss with you which planned giving method will have the most impact.

If you opt to create an endowment fund, we suggest you discuss this option with your financial advisor.