Legacy giving is a wonderful way to support or keep supporting a cause that you believe in. And this philanthropic gesture could actually benefit the gifts to your loved ones.
A campaign that was created to educate and inspire Canadians to think differently about legacy giving and Wills came up with five common themes around why people don’t include a charitable gift in their Wills:
- Will I be able to afford to give both to charities and support loved ones?
You may not know this, but estates are often met with hefty taxes when people pass. The Canadian government has tax incentives that can reduce, or in some cases even eliminate, those taxes when you make a charitable contribution, which will positively affect those who are near and dear to you.
- Do I need to be wealthy to make a charitable gift in my Will?
Most legacy gifts are made by Canadians of average means.
- Is leaving a gift in a Will is complicated?
It can be as easy as adding a clause to your Will.
- My Will has been made; can I change it?
It’s as simple as letting whoever drafted your Will know your intentions and they can amend it.
- How can I see the impact of my gift?
Working with the legacy team, you will be able to get a sense of the kind of impact that your gift will have. By including a gift in your Will, your loved ones will see the kind of impact you’re making and this can create a way to feel connected to you through your philanthropy, which may bring them some comfort.
A Will is your way of making a lasting impact on the world by providing for your loved ones and the causes that matter most to you. A gift to Covenant House Vancouver gives you a unique opportunity to demonstrate your values and your belief that our youth deserve a second chance. It is caring people like you that give us the privilege of walking alongside our youth on their journeys away from life on the streets and towards a brighter future.
We Can Help
Covenant House Vancouver has partnered with the Canadian Free Wills Network to allow Covenant House Vancouver supporters the opportunity to prepare their Will at no cost to themselves.
There are many ways to help the future of at-risk and homeless youth. Some of these gift options include:
- Naming Covenant House Vancouver as a beneficiary of a registered savings plan, such as a RRIF or RRSP
- Giving a gift of securities (stocks/shares)
- Establishing a charitable gift annuity—this gives you income for life and achieves a legacy gift for youth in need
Our Legacy Giving team would be happy to talk with you if you would like more information on these options.