The Fonds philanthropique FADOQ is a simple and effective way to make a donation to ensure the sustainability of our organization.
FADOQ – Planned gifts: Bequests and life insurance
Bequests are one of the simplest and easiest ways to plan a gift and can be modified at any time to reflect changes to your personal situation or that of your loved ones.
There are multiple options:
- Bequeath a specific amount or asset to Fonds philanthropique FADOQ (specific bequest)
- Bequeath to Fonds philanthropique FADOQ all or part of what is left after all debts and specific bequests are paid (residual bequest)
- Bequeath all assets—sometimes divided among several beneficiaries—to Fonds philanthropique FADOQ (universal bequest)
- Include a simultaneous death clause that provides for a bequest to Fonds philanthropique FADOQ if all beneficiaries die at the same time
- Designate Fonds philanthropique FADOQ as the secondary beneficiary in the event of the death of the first beneficiary
- Designate Fonds philanthropique FADOQ as a beneficiary of a retirement savings plan, pension fund, or life insurance policy.
There are four ways to make donations with life insurance policies:
- Transfer of a fully discharged insurance policy
- Transfer of an in-force life insurance policy for which the premium remains payable
- Gift of a new life insurance policy
- Gift of the proceeds of a life insurance policy
Following death, all these types of bequests are eligible for tax receipts that can be used in declaring the deceased’s income. The tax benefits generated by willed donations can considerably reduce the taxes payable by the estate.
For wills and other similar documents, the official corporate name is FADOQ or Fonds philanthropique FADOQ. A tax receipt will be issued in the name of the deceased’s estate for all bequests.
Please read our guide on planned donations to learn about smart ways of supporting our cause (coming soon).
To make a bequest or donation via a life insurance policy, please complete the planned gift form.