Frequently Asked Questions
How do I leave a gift for a charitable organization that I admire?
It is easy. You can arrange for a gift in several ways, the most common being a charitable gift through a bequest in a will. Many people set aside a certain dollar amount. Others leave a percentage of their estate or any assets left over after their family has been provided for. Some people leave a paid up life insurance policy, securities, retirement accounts or other financial investments. Others donate something they own, like a car or their home.
Must I have an estate in order to leave a gift?
Everyone can leave a gift. Estate is simply a word used to describe everything that you own at the time of your death. Most people leave an estate when they die, even though they may not have a great deal of wealth. It's also important to remember that there is no such thing as an insignificant gift. Anyone can arrange to leave a charitable gift from his or her estate no matter how large or small.
Do I have to include my wish to leave a gift to a specific organization in my will?
A charitable bequest will not take effect unless you state your intention in your will. Without a will, you lose control over your property after death. Your property and finances are settled according to provincial laws, whether or not they coincide with your and your family's wishes.
Do I tell the charity that I've left a gift?
That is up to you. Many charities like to know of planned gifts so they can recognize your generosity. They can also tell you about specific opportunities for giving.
Can I leave a gift to charity without taking away from what I leave my immediate heirs?
There are many ways to fulfil your charitable goals while still providing for your family and other loved ones. Many vehicles for planned giving, such as life insurance, allow you to leave a variety of gifts to both a charity and family members, all the while providing tax benefits to you or your estate.
Who can help me arrange for a gift?
Your favourite charity may be a good source of information. Or, if you have a professional advisor you're working with ñ like a financial or estate planner, lawyer, accountant, trust officer or insurance agent ñ please talk with him or her about leaving a gift. A professional advisor can tell you about the tax benefits of planned gifts, and can make sure you are getting the maximum tax and legal advantages allowed for your gift. An advisor can offer some creative ideas about how to leave gifts that meet all of your personal and charitable objectives. If you do not have an advisor and need assistance, you can find a professional to help you through a referral from any of the local organizations listed on the National Find an Advisor page.
How do I leave a gift in memory of a person?
A gift is a wonderful way to recognize someone who has made a difference in your life. This kind of memorial gift can be arranged in your will. You just need to make it clear that the gift is given in memory of a particular person.
How to Leave a Legacy
If leaving a legacy is of interest to you, take the next step. Think about the charity or cause you'd most like to help. Maybe you or someone you know has benefited from the service of a particular organization. Maybe you're an active volunteer of believer in the mission of a specific organization. You might want to leave a gift in memory of a loved one or for a certain use. If you need more help or you need to know more about a particular organization, do some investigating before leaving a gift. Call the charity of your choice. They can tell you more about what they do, what opportunities are available for giving, and how your gift will allow them to continue their good works.