Residual Interest

In this type of legacy gift, an item of value (such as property) is deeded to The Friends of Algonquin Park, but the donor retains the use of this property for life or a term of years. For example, you might give a residual interest in your cottage, but continue to use and enjoy it over your lifetime. These types of gifts are usually given by those who plan to give the property through a will bequest but would like to reduce income tax presently, without making any living arrangement plans.

The property is appraised and the value is determined. A deed is drawn up and signed by both parties and you are entitled to a tax receipt for the present value of the residual interest.

More Information

To discuss your donation of residual interest, please contact:

Partnership Coordinator
The Friends of Algonquin Park
Box 248
Whitney, Ontario K0J 2M0
Phone: (613) 637-2828 ext. 239

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