The Konrads have demonstrated generosity since the beginning of their relationship, a value they both hold dear and learned from their parents. “When we got married, we knew that it didn’t take big money to make an impact,” Robert says, “We could have an impact just by giving our time and giving what we could.”
Robert explains, “When my parents passed away, they left us a small but significant inheritance and we wanted to do something meaningful with the money.” Robert’s alma mater, UMEI Christian High School, was a natural fit. The Konrad family used their inheritance to establish the UMEI STEM fund which supports science, technology, and math skills for current and future students.
According to estimates, approximately $1 trillion in personal wealth will be transferred from one generation to the next in Canada between 2016 and 2026, with roughly 70% of that in the form of financial assets.
This is the greatest transfer of wealth in history. As such, it offers a tremendous opportunity for parents to discuss their values and estate plans with their children, especially concerning charitable giving.
Although the Konrads started with a decision to give generously from their Generosity Plan™, their donations have proven to be a gift of more than just dollars and cents. The ideas, lessons, and discoveries the program has made possible continue to provide a strong foundation for young Canadians. “Today our grandchildren attend the school,” says Robert, “and it’s been really encouraging to see firsthand the impact of our donation.”“A community that is generous will look different than a community that is not," says Robert Konrad, Abundance Canada client. Click To Tweet
In addition, the Konrads’ generosity had a snowball effect. Donations from other supporters soon followed, making the fund sustainable. Robert says, “A community that is generous will look different than a community that is not.” A profound statement that is taking root in this community, literally from the ground up, as they invest in their students.
The Konrads give generously to other charitable causes. They continue to use the service of Abundance Canada to manage their Generosity Plan.
What inspires this generosity? Lois says simply, “Generosity makes this world a better place.”
We couldn’t agree more.
If you are the recipient of an inheritance and would like to make a gift to a favourite cause, contact Abundance Canada to speak with a gift planning consultant. We can help you create a Generosity Plan, for all your charitable giving, at every stage of life, and our services include benefits such as the ability to donate now and give later, anonymity, and the ability for us to manage the giving process for you.
Contributed by Barbara Chambers
Director of Communications
“Investor Economics Household Balance Sheet Report—Canada,” Investor Economics, 2019.