Throughout his life, Gordon Q. Rice was a strong and gentle presence in his community. “My step-dad was a very kind gentleman who was always ready with a warm smile and a helping hand,” says step-daughter Sharon Hughes.
Gordon had an eclectic work history. He drove a delivery truck for over 20 years before he made a dramatic career change. “My mom encouraged him to get involved in real estate, which eventually led him to get connected in the insurance industry,” says Sharon. Together with his friend Ted Burnham, they started Kennedy Cooper, Ltd. on Columbia Street in New Westminster.
As an insurance agent, Gordon knew the benefits of insurance products to leverage gifts for charity so he decided to include Surrey Hospital Foundation as a beneficiary of his life insurance investment account. Although Gordon had never been a patient at the hospital, he was grateful for the wonderful care a close friend of his received in the palliative care ward at Surrey Memorial.
All insurance contracts, whether life insurance policies or investment accounts, require a designated beneficiary. Gordon knew that by including charity as a beneficiary of his term deposit investment account at Manulife, the gift would be given outside of his estate and excluded from the sometimes lengthy estate administration process. As well, the account would not be subject to probate fees. Gordon’s gift was realized within a number of weeks, providing his executor with a charitable tax receipt early in the estate administration process.
Gordon Rice is no longer with us, but he continues to provide a helping hand to patients in the Fraser Valley region thanks to his generous legacy gift.
If you have an insurance investment account or a life insurance policy you no longer need for your family, please consider changing the beneficiary to include Surrey Hospital Foundation. Your legacy of caring will benefit future generations for years to come.
