Planning Now to Give Later as a Legacy of your Committement to Kingdom Values.

Through Canadians OneBook  has supported Bible Translation, Literacy and Community development in some of the poorest countries in the world.

By supporting OneBook with your intentional gift planning, you are laying the foundation for further translation projects.

A planned gift allows you to make a significant impact at OneBook while receiving tax benefits that, in some instances can significantly reduce out-of-pocket costs of each gift, lower estate probate fees and ease income tax liability.

Legacy giving opportunities are:

———————————————————————————————————————

Bequest

A gift by “will” is known as a bequest. Written into your legal will document, bequests provide you the opportunity to give generously to OneBook – once your needs and those of your surviving loved ones have been met.

Funds are generally bequeathed as either a specific dollar amount, a particular piece of personal property or as a residual amount relating to a share or percentage of your estate.

Benefits of Making a Bequest

• Bequests are very tax-friendly and an effective means of supporting OneBook
• In the year of death your estate may claim gifts equal to 100 percent of your net income in that and the preceding year
• You retain full use of your assets while you are alive
• A bequest is revocable and can be changed if your financial circumstances or giving objectives change
• You can designate your bequests to any OneBook program or area that meets your interest and focus such as community development, marginalized women, refugees etc.

Arranging a Bequest for OneBook

• OneBook can assist you and your legal counsel by providing some sample wording to use that would ensure that we can accept your gift as you intend
• Please use the legal name “OneBook” in your bequest clause while citing our Charitable # 81317 5957 RR0001

————————————————————————————————————————————

Registered Retirement Savings

In the 2000 Federal Budget, OneBook (and other Canadian charities) was authorized to be named as a beneficiary on registered retirement plan documents. A tax receipt for the value of the investment gifted will be issued to the donor’s estate and applied towards the final income tax return.

Benefits of making a gift of an RRSP or RRIF

• RRSPs and RRIFs are a tax-smart way of supporting OneBook
• In the year of death your estate may claim gifts equal to 100 percent of your net income and the preceding year. Since RRSPs and RRIFs become fully taxable as income in the year of death, and often at the highest marginal tax rate, choosing a beneficiary such at OneBook will save significant tax compared to cashing out
• You retain use of funds while alive
• You avoid probate. Gifts of RRSP and RRIFs are less susceptible to being contested than a charitable bequest, and provide privacy
• You can designate your bequests to any OneBook program or area that meets your interest and focus such as community development, marginalized women, refugees etc.

What you should know about arranging an RRSP or RRIF gift

• OneBook can assist you and your legal counsel by providing some sample wording to use that would ensure that we can accept your gift as you intend
• Please use the legal name “OneBook” in your bequest clause while citing our Charitable # 81317 5957 RR0001.

————————————————————————————————————————————

Charitable Remainder Trusts

A charitable remainder trust allows you to arrange your estate gift to OneBook now and receive an immediate tax receipt for it, while still benefiting from the interest income or use of the gifted asset while alive.

To establish such a trust, you must fund the gift to OneBook by irrevocably transferring the assets (money, securities, property, etc.) into a trust which is managed by a trustee which could include yourself, a lawyer, financial institution or other individual.

A trust document names the interest income beneficiary (normally yourself but including an alternate individual based on one life, joint lives, or a fixed term), and names OneBook as the “remainder beneficiary”. You receive a receipt based on the net present value of the remainder interest.

Benefits of the Charitable Remainder Trust

• Receive an immediate tax receipt for the net present value of the remainder interest in the trust when the gift is made.(Note: net present value is based on the anticipated number of years you or another assigned beneficiary will receive the interest income from the trust, according to current fair market value and the appropriate annual discount rate.)
• Carry the excess tax credit forward for up to five years if your gift exceeds 75% of your net income in the year the gift is made
• Avoid probate. Charitable remainder trusts are less susceptible to being contested and provide privacy

————————————————————————————————————————————

Gifts of Residual Interest

Gifts of Residual Interest are very similar to Charitable Remainder Trusts in that you as donor are able to continue enjoying the benefits of your personal property for life while making a major legacy gift to OneBook today for which you also receive an immediate tax benefit.

Benefits of Gifts of Residual Interest

• You retain use of the property for life
• You receive a charitable tax receipt for the net present value of the property when the gift is made
• You can claim a charitable donation for up to 75% of your net income carried forward for five years
• You can avoid probate since GRIs are less susceptible to being contested than a normal bequest, and provide privacy
• You can designate your bequests to any OneBook program or area that meets your interest and focus.

Benefits to Global PartnerLink

• Gifts of residual interest may be added to OneBook’s assets or collections for the enjoyment or use of future missionaries, staff or key mission beneficiaries
• Proceeds of GRIs that are to be liquidated after the donor passes away help provide the support OneBook relies on to continue growing and impacting the world.