Stories and Insights
Read stories, ideas, and guidance that explore how legacy giving can create lasting impact for the causes you care about.
What is Legacy Giving?
Legacy giving, also known as planned giving, is a way to make a lasting impact on the causes you care about through charitable donations made as part of your estate plan. These gifts can be made through your will, trusts, or other financial instruments, allowing you to support charities and make a difference even after you're gone.
Legacy donations are one of the most powerful ways to create meaningful change. They allow you to provide for your loved ones while also supporting the organizations and causes that matter most to you.
Benefits of Legacy Giving
Legacy gifts can provide significant tax benefits for your estate, reducing the overall tax burden while supporting causes you care about.
You can change or modify your legacy gift at any time during your lifetime, giving you complete control over your charitable giving.
Create a meaningful legacy that continues to support your values and make a difference for generations to come.
Legacy gifts don't impact your current finances, allowing you to provide for your family now while planning for future charitable impact.
Choose from various giving options including will bequests, securities gifts, life insurance, and charitable trusts.
Support the causes and organizations that align with your personal values and create a legacy that reflects who you are.
How Legacy Giving Works
Legacy giving is simpler than you might think. Here's how the process typically works:
Plan Your Gift
Decide which charities you want to support and how much you'd like to give. You can specify a fixed amount, a percentage of your estate, or specific assets.
Work with Professionals
Consult with an estate planning expert or lawyer to ensure your legacy gift is properly documented in your will or estate plan.
Document Your Intentions
Include your charitable bequest in your will or estate planning documents, providing clear instructions for your executor.
Make an Impact
After you pass away, your estate will make the gift to your chosen charity, and your estate will receive a tax receipt for the donation.
Given to charity through legacy gifts annually in Canada
Maximum tax credit rate for charitable donations
Of your gift goes to the charity (no fees)
Common Types of Legacy Gifts
The most common form of legacy giving. You specify in your will that a certain amount or percentage of your estate goes to charity.
- Simple to arrange
- Can be changed anytime
- No impact on current finances
Donate appreciated stocks, bonds, or mutual funds directly to charity, avoiding capital gains tax.
- Tax-efficient giving
- No capital gains tax
- Full tax receipt
Name a charity as the beneficiary of your life insurance policy, creating a significant gift at a relatively low cost.
- Leverage your gift
- Affordable option
- Tax benefits
Ready to Explore Your Legacy Giving Options?
Discover how planning a future gift can support the cause or organization you care about while still providing for your loved ones. See the potential impact and tax benefits of legacy giving. Connect with a legacy giving expert who can help guide you through your options and turn your intentions into a lasting impact.