Gifts of RRSP or RRIF or TFSA
Retirement funds, like your Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), and other funds like your Registered Tax-Free Savings account (TFSA) are high value assets for most people. If you name Catholic Missions in Canada as the beneficiary, these assets can be excluded from probate. Also, the donation receipt issued to your estate can be applied against tax on the distribution of retirement funds.
- You retain use of the fund during your lifetime and the remainder is transferred to Catholic Missions In Canada upon your death.
- A charitable donation for the full value of your gift will offset 100 per cent of the taxes owed and any excess donation credits can be carried back to the previous tax year.
- Your gift passes outside of the estate and you will not be charged a probate fee.
For more information, please consult your financial advisor or contact Elvira Foronda, our Charitable Gift Planning Manager at:
Toll-free: 1-866-937-2642 ext. 229