With Thanksgiving around the corner, I thought you’d like to know that I have followed through on one of my new year’s resolutions this year – I am officially a volunteer at Toronto Rehab spending my Tuesday evenings with those who are recovering from injuries like the one I went through – sometimes we talk about ways to stay positive throughout the recovery process, other times we just talk about anything but the injury and most times I’m just trying to make someone smile with a lame joke or with the one and only magic trick I know…

 

Giving back to our community happens in many ways. We Canadians are known throughout the world for our generosity and benevolence. With recent studies indicating a growing interest in philanthropy, clients have been asking me about different ways to give back to their communities. Traditional avenues include establishing a private foundation or an endowment fund –and while these are certainly worth keeping in mind, many involve significant set-up costs and considerable administration.

 

Fortunately, RBC Dominion Securities has introduced a convenient alternative...

 

The Charitable Gift Program is specifically designed for individuals and families who wish to support charitable causes without the costs associated with establishing a private foundation. Through this innovative program, you can make initial and ongoing contributions to a charitable gift program administered by the Charitable Gift Funds Canada Foundation (CGFCF); one of Canada’s leading independent charitable foundations.

 

As the principal donor of your charitable gift fund, you may recommend grants to the charitable organization of your choice. I would continue to work with you to develop an investment strategy for your gift contributions. Furthermore, you will receive official charitable donation receipts for the full market value of your contributions.

 

A charitable gift fund is designed to create a lasting family legacy. Like a private foundation, you can give your fund a unique family name – like the ‘Chaaban Foundation’ or whatever you like.

 

We also have a comprehensive Charitable Giving Guide that discusses the tax and estate planning issues related to many other forms of charitable giving, including:

 

- cash gifts

- gifts in kind (securities)

- bequests under a Will

- donations of an RSP/RIF

- gifts of life insurance

- charitable gift annuities

- charitable remainder trusts

- endowment funds

- private charitable foundations

 

If you’d like to learn more, just say the word and I am happy to send you a copy of the Charitable Giving Guide.

 

With so much going on and information coming at us from every angle, it's sometimes hard to keep your finger on the pulse of what's happening. In an effort to keep you in-the-know and provide you with some conversation nuggets for the weekend, I've compiled the following hit list to fill your conversation pipeline.

 

Now you are in-the-know with Word on the Street.

 

Enjoy the rest of your weekend,

D.
Dian Chaaban
Investment & Wealth Advisor
416.842.4234