Under normal circumstance, the funds reaming in your RRSP or RRIF at death are included in your taxable income in the final year of life, unless you transfer them to your spouse. This means that your estate will have to pay the income tax on all the funds remaining in your RRSP or RRIF and only the after tax amount will be available to be transferred to your intended beneficiaries.
You can reduce the amount of tax payable by your estate by designating a registered charity, such as the Fort St. John Hospital Foundation as a beneficiary of your RRSP or RRIF.
Through a designation of your RRSP and RRIF funds to a registered charity, like the Fort St. John Hospital Foundation, your estate will realize savings not only in income tax but also in probate tax payable. To get the best plan for you, we recommend that you consult your tax and financial advisors before you finalize your estate plan.
When considering whether to designate a charity, such as the Fort St. John Hospital Foundation, as the beneficiary of your RRSP and RRIF, you may wish to think about and discuss the following with your financial advisor.

• The value of your RRSP or RRIF;
• Whether you would like your spouse to benefit from your RRSP or RRIF after your death;
• The value of your other assets;
• Whether it would be beneficial for you to directly designate the charity as the beneficiary of your RRSP or RRIS to avoid having your RRSP or RRIF proceeds flow into your estate;
• The portion of your estate that you would like to donate to a charity in light of the tax benefits of making the gift;
• The correct legal name of the charity you have chosen.

Designating a charity, such as the Fort St. John Hospital Foundation, as the beneficiary of your RRSP or RRIF is easy. Simply contact the financial institution holding your RRSP or RRIF and ask for a beneficiary designation form. Staff at the Fort St. John Hospital Foundation can help you complete the beneficiary designation form to ensure that your wishes can be carried out. Your gift will contribute to enhancing the Fort St. John Hospital and Peace Villa Facility.
To speak to someone personally and confidentially at the Foundation, please contact: Kelley Amboe, Executive Director by phoning: 250-261-7563 or email fsjhf@northernhealth.ca, and speak to your financial planner.

The above information is general in nature and is not legal or tax advice. We can help you realize your wish to support our hospital by working with you and your financial and legal professional advisors.