Planned Giving in a Nutshell
Simply put, “Planned Giving” means creating a charitable gift now that will go to a charity you care about in the future — usually once you pass away.
It’s “planned” because it is the type of gift that is designated in your Will, and involves both consideration of your financial situation, and preparation, usually with a lawyer and financial advisor.
Why should I consider Planned Giving?
Planned Giving can get you thinking about the future, and the legacy you will leave once you’re gone. You may start to ask yourself “What type of world do you want to pass on to future generations?” and “How do I want to be remembered?” .
Making a planned gift in your Will gives you the opportunity to give the gift of a lifetime to a causes you believe in. It allows you to leave a larger gift that may not be possible during your lifetime, while still remaining in control of your assets. In doing so, you can make a lasting impact on the type of world you would like to pass on to future generations.
Because of Canada’s tax regulations, a planned gift may provide substantial tax relief for you now or for your estate later.
Some people believe that giving to a charity will diminish the amount they are able to leave to their kids and loved ones. However, because of Canada’s tax regulations, you can give money to a charity that would otherwise be given to Canada Revenue Agency in taxes.
After providing for your loved ones, your Will enables you to continue to help others. When a charity receives a planned gift, it can allow them to use it for something special — something that would not be possible otherwise. It can ensure your compassion for others will live on.
A Legacy of Your Own
You will be remembered as someone who helps the Nikkei community preserve and share history, heritage, and culture for future generations, and a better Canada.
Get the Facts
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