Finding Their Legacy Story

Ten years into retirement, Dianne and Harold took the prudent step of reviewing their financial plans for the future. They met with their financial advisor who informed them that they had fully overcome the risk of outliving their money. Then, they met with me to review their Generosity Plan™ for charitable giving. They explained to me that knowing their financial future was secure had prompted serious reflection on the legacy they might leave for their kids and grandkids. Certainly, they wanted family to inherit some money when they died, but what other values would they pass on? They wanted to create a truly meaningful legacy.

Passing on the Joy of Giving

Charitable giving had always been a family affair for Dianne and Harold. Since establishing their Generosity Plan, they gathered their children and grandchildren together each year to determine which specific charities they might recommend for support. They genuinely enjoyed those discussions, and their children and grandchildren loved being included in the family meetings. Still, Dianne and Harold wondered if the younger generations would continue to give if the two of them weren’t there to bring everyone together. These committed parents and grandparents longed to make passing on the joy of giving a key part of their legacy.

After listening carefully to their concerns, I proposed that adding a charitable gift in their wills (also known as a ‘bequest’) could help them reach their goal. They were curious to know more, and this curiosity turned to excitement as I described a plan for them to consider.

A Legacy Gift that Keeps Giving

In their wills, Dianne and Harold could donate a percentage of their estate to Abundance Canada. The bequest would be added to an existing Gifting Fund™, the same mechanism through which the foundation has managed their donations during their lifetime. Abundance Canada would then distribute these funds to their recommended Canadian charities and qualified donees. Harold and Dianne could entrust their family members with providing the distribution recommendations to Abundance Canada each year, carrying on the tradition that had brought the family so much joy during their lifetime.

Dianne and Harold agreed this would be a great way to provide a legacy to their family. Not only would the charitable gift in their wills provide continuing support to the charities they care about, the responsibility of recommending distributions would give the children and grandchildren an easy-to-follow path to charitable giving that would be fun for them to explore. I provided Harold and Dianne with paperwork to bring to their lawyer so they could put these new plans into action.

A New Piece of Their Legacy Story

Harold and Dianne left our meeting this year with a persistence and resolve that I had not seen in them before. Their Generosity Plan had helped them find a key piece of their legacy story. They are eager to inspire future generations with their legacy gift and are now working with Abundance Canada to determine the distribution timeline to achieve this goal. As Dianne and Harold’s family continues to learn from their example, I look forward to one day helping their children and grandchildren start their own Generosity Plans.