Make a Planned Gift
Giving Lives Back Through Legacy Gifts
For more than 100 years, community support and the generosity of individuals have been helping patients at West Park to reclaim their lives and live to their fullest potential.
In fact, the hospital was founded with the support of a philanthropic legacy. In 1903, Sir William Gage purchased the Buttonwood Farm to offer as the site of a new hospital, beginning a legacy of care that continues to this day.
The highly skilled staff and physicians who are a part of our ‘campus of care’ team provide personalized rehabilitation that empowers patients with the skills, knowledge and confidence to lead productive and independent lives at home. They provide extraordinary care to people facing enormous health challenges, are dedicated to best practices and research, and possess an unwavering commitment to quality care for our patients.
A gift in your will to West Park Healthcare Centre Foundation is an extension of these values, a commitment to extraordinary patient care and service to the community that have been a part of the West Park fabric for over 100 years.
[West Park Foundation is a proud partner in the Will Power movement, a campaign to educate Canadians on the power they have to make a difference through their Wills. Learn more here.]
How to Make a Gift in Your Will
If you are considering making a legacy gift including a charitable bequest, gift of life insurance, registered retirement savings plans (RRSPs and RRIFs) or tax-free savings accounts (TSFAs), it is important to discuss your plans with your financial or legal advisor as well as your family members.
These gifts have the power to transform lives and create a legacy that will never be forgotten, and they can also provide a meaningful tax advantage to your estate.
A legally valid will also ensures your estate is distributed according to your exact wishes, including charitable gifts. The most common form of deferred legacy gift is a gift in your will, often referred to as a charitable bequest, and may be structured in a variety of ways.
Bequests may take the form of a residual gift which is a donation of either the remainder of your estate after your family and other provisions have been taken care of, or a percentage of the residue of your estate, pre-selected by you, after all specific bequests and expenses have been provided.
Alternatively, you may prefer to make a specific gift to West Park Foundation. This is a fixed amount of cash or securities from your estate.
Other Ways to Leave a Legacy Gift
West Park also accepts gifts of life insurance which are made by naming West Park Healthcare Centre Foundation as the owner or beneficiary of an existing or new life insurance policy. These gifts can be an affordable way to make a significant difference to West Park.
Retirement Plan Accumulations (RRSPs and RRIFs)
Similar to gifts of life insurance policies, you can choose to name West Park Healthcare Centre Foundation as a beneficiary of all, or a percentage, of your registered retirement savings plan (RRSP) or registered retirement income fund (RRIF). At death, plan accumulations are subject to full taxation at your top marginal tax rate. By naming West Park Foundation as a beneficiary of your retirement plan accumulations, funds that otherwise would be lost to taxation are transferred directly to support West Park and your estate will receive a tax receipt for the value of the gift.
When wording your bequest or designating West Park to be a beneficiary or owner of your life insurance policy, or beneficiary of your retirement plan accumulations, please use our legal name: West Park Healthcare Centre Foundation. You may also want to include our charitable registration number – 119295350 RR0001, and our business address – 82 Buttonwood Avenue, Toronto, ON M6M 2J5.
If you have already included West Park Healthcare Centre Foundation in your will, please accept our sincere thanks! We are grateful for your incredible generosity and would like to thank and recognize you for your commitment to help transform the lives of our patients.
Alternatively, if you would like to learn more about how you can leave a legacy gift to West Park and ensure that your gift is exactly as you’d like it, we would be delighted to speak with you.
Please contact, in confidence:
Director, Annual Programs & Planned Giving
West Park Foundation
416-243-3600 ext. 4215