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WHAT IS PLANNED GIVING? Planned Giving is simply looking into the future and saying I would like to do something of significance for an organization or an individual. I would like to give some gifts to my children, to my grandchildren, to my church or to a charity. Gifts of larger sizes made with a lot of forethought to a charity or helping organization are called Planned Giving gifts. Generally, planned gifts are thought of as deferred gifts, or gifts for the future. These gifts often stem from a desire to make a significant impact in a cause that you have faithfully supported. Planned Giving can make an impact on one’s taxes, both now and in the future, and can result in the government receiving less and those you care about receiving more. There are a lot of effective strategies to help you avoid or reduce personal or corporate taxes, while giving vital support to a cause you believe in. GIFTS OF RESIDUAL INTEREST The joy of living in your residence or enjoying property such as a vacation home can be increased knowing that, when you no longer have need of it, it will become your gift of support for your favourite charity. How does this work? You “gift” your property now and you benefit by receiving tax considerations; you continue to live in your own home, while knowing in the future your home will have a significant impact on a cause you believe in. In case of a residual gift of fine art, it stays on your walls for your enjoyment, and you receive a tax receipt. When the time comes, the art goes to the charity. A give left in your will can impact lives long after you are gone. (Provided by a board member of the Union Gospel Mission) |
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WILLS & ESTATES BEQUESTSB.C. WILDLIFE FEDERATION VALLEYVIEW MEMORIAL GARDENS CANUCK PLACE SERVICE CORPORATION INTERNATIONAL DAVID WATTS NOTARY CORPORATION LIBRARY LEGACY FUND
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