Assignment of Life Insurance and other Designations.

It is also possible to give to the Chilliwack Foundation by designating the Foundation as the beneficiary of your life insurance policy, RRSP or RRIF plan.

Designating the Foundation as the beneficiary of your life insurance policy or RRSP/RRIF plan means that your Estate will receive a charitable tax credit that can significantly reduce the amount of tax owed by your Estate after you pass away, leaving more funds to go to the people and causes you care about.

In addition, when you designate the Chilliwack Foundation as the beneficiary of your insurance policy or RRSP/RRIF plan, the proceeds will pass outside of your Estate and will not be subject to Probate Fees or actions brought under BC’s Wills Variation Act.

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