Diocese of Saskatoon

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What about using some of the money in my RRSP or other retirement plan to make a charitable bequest? Is this a good idea?

Yes. The combined impact of estate and income taxes can, in some cases, take up more than 70% of the assets in a retirement plan. However, if you fund a bequest to a charity from retirement plan assets, the full amount of the retirement plan assets can pass to the charity without estate or income taxes.