“I topped up my donation by including the HEC Montréal Foundation in my will as a recipient of a portion of the death benefit from a life insurance policy I have. The tax credit will reduce the actual cost of the policy… which lets me optimize the net value of my estate.”
You can maintain control over your life insurance policy by continuing to be the owner and naming the Foundation as the beneficiary directly in your policy or by indicating in your will that you are leaving all or part of the death benefit to the Foundation.
Suggested reading: Bequests
The HEC Montréal Foundation’s CRA registration number is 118924158 RR0001.