A Gift to Charity in a Will Creates a Lasting Legacy
Many people want their generosity to extend beyond their lifetime and a gift to charity in their will is a great way to create this type of legacy.
A gift to charity in a will is commonly referred to as a charitable bequest and can be a specific dollar amount, a specific asset, a percentage of the estate, or the residual amount of the estate.
Abundance Canada can help you include a charitable bequest as part of your Generosity Plan™.
Why Include a Gift in Your Will?
- Your legacy of giving continues to support the causes you care about.
- Your will provides a way to give, possibly more than you could during your lifetime.
- Your estate will receive a donation receipt for the amount of your gift, reducing or perhaps eliminating final taxes owing.
Why Use Abundance Canada to Facilitate a Gift in Your Will?
- We simplify the process for your executor / executrix, or estate administrator.
- When you name Abundance Canada as a charitable beneficiary in your will, your estate issues one cheque and receives one donation receipt. Abundance Canada will distribute funds to one or multiple charities based on your pre-documented donation recommendations.
- No need to report estate details to multiple charities.
- A Generosity Plan™ at Abundance Canada allows the single bequest to benefit multiple charities.
- No need to include each charity in your will.
- You don’t need to revise your will if you want to change the charities you wish to support with your bequest.
- You contact Abundance Canada to update your Generosity Plan™ distribution recommendations.
- Abundance Canada can manage your bequest to provide ongoing support for the causes you care about.
- Distributions to charities can be made anonymously.
How the Abundance Canada Process Works
- Meet with a gift planning consultant from Abundance Canada to discuss how a charitable bequest fits into your overall Generosity Plan.
- Name Abundance Canada as the beneficiary of the charitable gift in your will. This removes the complexity of naming one or more charities in your will.
- Using our Distribution Recommendation form, you can recommend which charities you wish to support, how much support they should receive and over what time period.
- Update or revise your Abundance Canada Distribution Recommendation form at any time without having to update your will.
- Abundance Canada will send your estate an official donation receipt for tax purposes.
Next Steps
Established in 1974, Abundance Canada envisions a world where everyone lives generously, because we believe generosity changes everything™. To learn more about creating your Generosity Plan, contact Abundance Canada at 1.800.772.3257 to speak with a gift planning consultant. All consultations are confidential, with no obligations.