Property such as a residence or cottage may be donated now but use of the property can be retained through a gift arrangement called a residual interest gift. A residual interest gift is a legal agreement allowing to retain a lifetime interest in (and use of) the property, with the remainder interest (after your death) transferred to the Dalhousie Medical Research Foundation. The property then is sold and the funds are used to support local medical research.
A tax receipt for the current value of the future gift of the property is issued when the agreement is established.
Please contact us for more information on this valuable planning tool.