HOW TO LEAVE YOUR LEGACY
Once you have identified the not-for-profit organizations that best represent your values and interests, there are many ways to start giving. Your initial move should be to consult with legal, financial, banking and business advisors. With their help, you’ll be on your way to making a real difference.
- Prepare a Will. Without a Will you lose control over your property at death.
- Leave a gift in your Will for the charitable organizations that make a difference in your life. Imagine the positive impact on our community if everyone made a gift from their estate to their favourite charity.
- Leave a specific dollar amount or a percentage of the assets in your Will to charity.
- Consider using assets for your charitable gift. These include but are not limited to cash, stocks, bonds, mutual funds, term deposits, real estate, art or insurance. Such gifts may even provide tax savings.
- Name a charitable organization as a beneficiary of your RRSP.
- Name your favourite charitable organization as the beneficiary of an existing or paid-up life insurance policy.
- Purchase a new life insurance policy naming your favourite charitable organization as the beneficiary.
- Remember your loved ones with memorial gifts.
- Encourage family and friends to leave gifts to their favourite charitable organization in their Wills.
- Ask your financial or estate planning advisor to include charitable giving as part of their counsel to clients.
You can set up a Donor Advised Fund, Designated Fund or Field of Interest Fund with Durham Community Foundation. Donations are pooled together and invested and the income from these investments is then used to make grants to support the local registered charity[s] that the donor is passionate about. The capital is untouched and your gift becomes part of a permanent endowment fund that will give to the community in perpetuity.
Durham Community Foundation is a registered charity that will provide tax receipts.
Charitable Registration # 89879 7931 RR0001.