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About LEAVE A LEGACY™ Glossary of Terms

Accountant a professional who specializes in the practice of accounting and is responsible for managing and reporting financial results for a company or an individual. Click here to search for a professional advisor in your area

Assets anything owned by a person that has economic value. Assets can range from property, antiques, art and valuables.

Attorney a professional who specializes in the practice of law, this person might be responsible for giving clients legal advice, and is qualified to prosecute and defend actions in a courtroom. Click here to search for a professional advisor in your area

Beneficiary a person or organization that receives a bequest under a will, death benefits from a life insurance policy, or payments from a trust.(1) The recipient of a bequest.

Bequest types see how to give

Bequest/charitable bequest a gift of property through a will to a particular beneficiary.(1) Also see how to give.

CAGP-ACPDP™ National Office refers to CAGP-ACPDP™ Head Office, which is located in Ottawa, Ontario.

Charitable giving(1) the act of voluntarily giving a part of your assets to a charitable organization

Charity/Charitable organization an organization, trust, or corporation that was established in Canada, resides in Canada and is registered under the Income Tax Act as a charitable organization, public foundation, or private foundation. A registered charity operates for charitable purposes and must devote its resources to charitable activities(2)

Charitable receipt also called official donation receipt or tax receipt. A receipt given by a registered charity that is subject to particular requirements under the Income Tax Act.(3) This receipt can be used for income tax purposes and benefits.(2)

Estate everything that a person owns or has a financial interest in.(1) All of the real (fixed – land, buildings) and personal (movable – art, stocks) property in which a person has a right or interest.

Estate Plan process of accumulating and disposing of an estate to maximize the goals of the estate owner. The main goal of estate planning usually is making the greatest amount of the estate passes to the estate owner’s intended beneficiaries. This often includes paying the least amount of taxes. Other goals may include providing for and designating guardians for minor children.(4)

Estate Planner a professional who specializes in creating an estate plan. The professional works with the estate owner to maximize their goals, minimize the person or family’s estate taxes, and have adequate assets after death to continue their business, take care of their family, and pay major expenses such as their mortgage.(4) Click here to search for a professional advisor in your area

Financial Planner a professional who specializes in helping people deal with personal finances through planning in the following areas: cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business planning.(4)Click here to search for a professional advisor in your area

Gift a voluntary transfer of property. For any gift made after December 2002, the eligible amount of the gift is used to calculate the donor’s donation tax credit or deduction(3). Please visit http://www.cra-arc.gc.ca/donors/ for more information.

Gift Planner someone who works with donors and their professional advisors and/or their favourite charity to achieve maximum benefit for both the donor and the charity from a planned charitable gift. Also see Planned Giving Officer

Grassroots organizing at the local level, or organizing from the bottom-up.

Insurance Broker a representative of an insurance company. This professional might advise on financial concerns related to any type of insurance. Click here to search for a professional advisor in your area

Irrevocable trust a trust that cannot be terminated or changed by the person creating it.(1)

LEAVE A LEGACY™ Chair oversees the program and the LEAVE A LEGACY™ Committee at the local level.

Legislation In Canada the Income Tax Act provides guidelines on the proper way to give so that individuals may claim donations on their final income tax return. Please visit http://www.cra-arc.gc.ca/donors/ for more information.

National LEAVE A LEGACY™ Coordinator refers to the CAGP-ACPDP™ staff person who is responsible for supporting all programs across Canada and for assisting with the logistics of hosting a sponsored information workshop at the local level.

Not-for-profit organization is an association, club, or society operating exclusively for social welfare, civic improvement, pleasure, recreation, or any other purpose except profit. A not-for-profit is not a registered charity and can not issue an official tax receipt even though not-for-profit organizations are exempt from paying tax on its income.(2)

Partner License Agreement a CAGP-ACPDP™ agreement between the local RoundTable and local LEAVE A LEGACY™ program partners/sponsors outlining the requirements for the use of the LEAVE A LEGACY™ logos and trademarks.

Philanthropy the act of donating money, goods, time or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective. Philanthropy may entail activity that promotes a concern for human welfare and advancement.(4)

Philanthropy Consultant a professional specializing in strategic planning and useful tactics regarding charitable efforts. Click here to search for a professional advisor in your area

Planned gift / planned giving / gift planning a way of giving to charity and arranging donations which both serve the interests of the charitable organization and also suits the personal, financial, and tax situation of the individual donor.(3) Please visit the How to Give section for some examples of planned gifts.

Planned Giving Officer (also see Gift Planner) someone who works with donors and their professional advisors and/or their favourite charity to achieve maximum benefit for both the donor and the charity from a planned charitable gift. Click here to search for a Planned Giving Officer in your area.

Policy guidelines that govern an individual’s insurance or trust payments and finances.

Professional advisor best defines CAGP-ACPDP™ members who work as professional advisors in providing advice to a donor or a charitable organization. These members commonly work in the fields of accounting, law, insurance, financial planning, etc. Click here to search for a professional advisor in your area

Program refers to the LEAVE A LEGACY™ awareness initiatives either at the local or national level; local LEAVE A LEGACY™ programs are managed primarily by volunteers with the support of the National Office.

Registered charity an organization, trust, or corporation that was established in Canada, resides in Canada and is registered under the Income Tax Act as a charitable organization, public foundation, or private foundation. A registered charity is operated for charitable purposes and must devote its resources to charitable activities(2)

Right of Use Agreement an annual agreement between CAGP-ACPDP™ National Office and the local RoundTable outlining the responsibilities and the criteria for the use of the LEAVE A LEGACY™ logos, graphics, and trademarks.

Roundtable refers to local committees of the CAGP-ACPDP™. These RoundTables accept, observe and promote the CAGP-ACPDPTM Code of Ethics. RoundTables assist the CAGP-ACPDPTM in developing its programs and materials, and serve as the primary vehicle for delivery of those programs and materials.

Stock Broker is a licensed professional or firm who buys and sells shares, stocks, or investments. Click here to search for a professional advisor in your area

Sustainability to maintain productivity at the same pace or at an accelerated pace for a cause or a goal without causing harm to the greater society.

Tax benefits registered charities in Canada are regulated by the Canada Revenue Agency under the Income Tax Act. Under the act, donations to registered charities may help reduce your individual income tax. Tax credits are calculated as a percentage of the eligible amount of donation you make.(2) For more information please visit http://www.cra-arc.gc.ca/donors/

Tax implications- see tax benefits

Will / testament – the last legally binding document of an individual directing the disposition of his or her estate and assets effective at death.

(1) Planned Giving Glossary, Planned Giving for Canadians
(2) Giving to Charity Information for Donors, Canada Revenue Agency, http://www.cra.gc.ca/donors/
(3) Charities and Giving – Glossary, Canada Revenue Agency, http://www.cra-arc.gc.ca/tx/chrts/glssry-eng.html
(4) Wikipedia, http://en.wikipedia.org
(5) Giving to Charity: Information for Donors Brochure, Canada Revenue Agency, http://www.cra-arc.gc.ca/E/pub/xi/rc4407/

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