What Will Your Legacy Be?
What will you leave behind? How will you be remembered? Your legacy lives with the people who you have cared for in your life. Your family and friends and people you have helped through supporting various causes and organizations during your lifetime.
Your legacy will be the memories people have of you. How they follow your example. The ways they live the lessons and values you have taught them.
If you have supported local charities with donations each year, and have lived and worked and raised your family in Abbotsford, we encourage you to consider leaving a gift in your will to create an endowment fund. The income will be used as you determine. It can support one or more local charities, a student award or the Smart and Caring Community Fund addressing Abbotsford’s most pressing local needs.
What About Your Family?
Oftentimes, when people first think of leaving a gift to charity in their will they first want to make sure they can provide for their family first.
Some decide that is all that they can do but others realize they can provide for both their loved ones and give a portion of their estate to the charities that mean the most to them. In some cases we can help you do both tax efficiently.
How Can you Take the worry out of leaving a meaningful gift?
Many people are concerned about the uncertainty surrounding the size of their estates because none of us know how long we will live or how long our partners will live. This is an important factor when you are deciding to leave a specific amount as a charitable gift in your will. There are other options.
The first is the “residual gift”. This type of donation is in fact the “leftovers” after all of your fixed obligations to family are met. So, for example, someone could leave a certain amount of money to each child and grandchild – and then leave the remainder to establish and donor designated fund with ACF to support his or her favorite charities.
Others prefer to leave a percentage of their estate. For example, someone with two children and four grandchildren might divide his or her estate into seven equal portions. Each child and grandchild will receive an equal portion – and the final portion could be used to create a fund or support an existing fund held by ACF. Either of these two methods takes the worry out of leaving a gift in your will to help local charities.
Would you like to talk to us?
If you have any questions please get in touch by calling Susan McAlevy at 604-850-3755 or email email@example.com.