RRSP/RRIF

You can name Good Shepherd Ministries as the beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF).

This asset resides outside of the estate and therefore is not subject to probate fees. The charitable tax receipt received from making the gift may help to offset other taxes owing on the estate.

The gift is treated as a charitable donation in the year of death and is eligible for a tax credit on your final tax return or the one immediately preceding the final return.

All that is required to make this planned gift is to change the beneficiary information on the plan document and advise the institution holding the retirement account.

Multiple beneficiaries can be named: charitable organizations, family, and friends.

Should your spouse be the beneficiary of the plan, you may make a contingent beneficiary. The proceeds of the plan will only be directed to the charity following the death of the primary beneficiary.