Leave a Legacy Calgary is an awareness program designed to encourage people to support the cause or charity of their choice through a charitable bequest in their will. It is an initiative of the Canadian Association of Gift Planners, and as a member of the Organizing Committee since 2008, I have been fortunate to work with a variety of donors, charities, not-for-profits, and professional advisors throughout the years in organizing an annual seminar designed to educate members of the public on the benefits of charitable giving.
The 2017 seminar was held on October 21, 2017 from 9:00 am to 12:00 pm at the Red & White Club at the University of Calgary, and featured lawyers and experts speaking on wills, Powers of Attorney, and issues relating to taxation on death.
The following points were provided as ways that you can leave a legacy:
- Prepare a will. Without a will you lose control over your assets at death.
- Leave a gift in your will for the charities that have made a difference in your life. Imagine the positive impact on our community if everyone made a gift from their estate to their favorite charity.
- Learn about the many tax advantages associated with making a charitable bequest as part of your financial and estate planning.
- Consider using both cash and assets for your charitable gift. Assets can include stocks, bonds, mutual funds, RRSPs, term deposits, real estate, vehicles, art, jewelry, or insurance. Your charity can advise you or your lawyer of their gift acceptance policies.
- Name a charity as a beneficiary of your RRSP, RRIF or pension.
- Name your favourite charity as the beneficiary of an existing or paid-up life insurance policy.
- Purchase a new life insurance policy naming your favourite charity as the beneficiary. You can realize significant current tax credits on the premiums you pay.
- Remember loved ones with memorial donations.
- Encourage family and friends to leave gifts to charities in their wills.
- Pay it forward. Ask your financial and estate planning advisors to include charitable giving as part of their recommendations to clients.
The presentations presented at the seminar can be accessed by visiting www.leavealegacycalgary.com