Making a Charitable Donation in Your Will

Charities and not-for-profit organizations are important in almost every area of Canadian life. Helping the economically disadvantaged, advancing education, promoting culture—charities have a direct impact on the lives of millions of Canadians.

 

But they live on our donations. Many Canadians understand this and give generously to charities during their lifetimes. Not everyone knows, however, that they can also help charities after they die.

 

How do you do that? By making gifts to your favourite charities in your Will. This is known as making a charitable “bequest”.

 

Reasons to make a charitable bequest:

  • Helping othersThis is, of course, the main reason we give to charities during our lifetimes. A Will can ensure you keep giving after it. 
  • Tax Benefits - When you die, your estate may be required to pay taxes (see more on this here). Your estate can reduce them by making a charitable donation. 
  • Leaving a legacy - Some charities have programs that will attach your name to a plaque, painting, tree or other object. This can leave you with a positive legacy and help console your bereaved loved ones. 
Remember: Your estate can only make a donation if you have stated so in your Will. Make sure you name the charity properly and spell out your wishes clearly. This ensures that the charity will receive your donation for the purpose you want. Consulting a lawyer is strongly advised.
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