Making a planned gift is easier than most people think.
According to the Canadian Association of Gift Planners, in the next two decades 3.5 million Canadians will leave an estimated $1.5 trillion to their families and communities.
How many of us are ready to give today to avoid excessive income tax and make a difference?
A survey from TD Canada Trust finds that only four in 10 Canadians aged 65 and older feel prepared to leave as much of their estate as possible to their family or charitable causes. “Proper planning is essential when organizing your estate, whatever its size,” says Jillian Bryce, an investment advisor with TD Wealth Private Investment Advice.
Planning is wise. There are other financially efficient ways of reaching one’s charitable goals and achieving tax relief through planned giving.
A donor may name a beloved organization owner and beneficiary of a life insurance policy, for example. This type of gift is appropriate for young philanthropists who wish to make a large gift but have limited resources.
Making a planned gift is easier than most people think.
One of our young donors is a single mother. She intends to donate 10 per cent of her estate. She already knows she’s on the right track because her affairs are in order.
Many donors want to see the fruit of their generosity in their lifetime. That’s the beauty of planned giving — it’s for the living. Donors plan gifts by looking at their current finances through a philanthropic lens of future goals.
My team makes sure donors won’t miss opportunities — for themselves and their loved ones. That way their gift will have maximum impact on them and others.
With the right plan, giving is easy.
Silvia Ugolini