DONATION OF RRSPs AND RRIFs
A donation of your RRSP (Registered Retirement Savings Plan) or RRIF (Registered Retirement Income Fund) can result in numerous tax benefits. In Quebec, such donations must be made through a bequest in a will, as it is not possible to directly name a charitable organization as the beneficiary of your RRSP or RRIF.
Why opt to donate your RRSP or RRIF?
Withdrawals from RRSPs and RRIFs are generally subject to high taxation, and these plans are among the most heavily taxed assets at the time of death.
By donating the funds or investments you hold in your RRSP or RRIF to the MMFA Foundation through your will, your estate will receive an official tax receipt equal to the value of the donation, which will significantly reduce the amount of tax payable by your estate.
Our experienced team is here to guide you in your philanthropic planning. Please feel free to reach out to us:
Dalia Younsi
Nolwenn Bourdaire
Already planned to donate your RRSP or RRIF to the Museum?
We are deeply grateful for your generosity!
The MMFA Foundation would like to personally thank you once your donation is confirmed. Please reach out to us so that we can tell you about our donor recognition program.
Note:
Donating your RRSP or RRIF is an important decision, and it is wise to seek the advice of your financial (planner, accountant, tax specialist) and legal (notary or lawyer) advisors about how best to proceed. These professionals have the know-how and expertise to explain how best to structure your donation and what tax benefits apply to your specific situation.
