Why Give Best Reasons to Give
Every day, people are helped and lives are enriched by the work of registered charities and foundations, and other not-for-profit organizations in our communities. Meals for isolated seniors, summer jobs for disadvantaged high school students, funding for mental health or cancer research or a live performance by a local arts organization are just some of the ways not-for-profit organizations improve our lives.
Canadians give for many different reasons: for some it is a way to ensure their memory lives on, for many it’s a way to ensure that their favorite charity is able to continue its important work, while for others it represents a way to facilitate the tax implications that come with the transfer of one’s estate to surviving relatives.
Financial assistance is essential to support and sustain charitable work. Many people generously give their money, time and energy to their local not-for-profit organizations and are unaware that by leaving a gift in their will or estate plan to the charitable groups of their choice, they can continue to help people in need or promote a favourite cause.
We wish more funding were available for medical research, for domestic abuse shelters, or a treasured arts or music program. Charitable organizations need financial assistance from people like you to continue their work. By making bequests and other “planned gifts,” you can continue to help organizations that are making an important difference in your community. What better way to thank the people or organizations that have had an impact on your life, than to make a contribution from your estate through a bequest?
Choosing to leave a gift from the heart brings meaning, dignity and purpose to a life well lived. Your gift is your opportunity to participate in the charitable and community work most meaningful to you, in a way that allows these important causes to be well supported now and long after you have gone. Personal Philanthropy through a will can be an additional way to ensure that your memory lives on.
Surprisingly, a gift can also be a very practical addition to a financial or estate plan when tax issues are taken into consideration – even for those who think they may not have tax issues. In most cases, the tax burden left to relatives is lifted significantly. Your professional advisor can teach you how giving may actually benefit your family after you’re gone. Together we can make a difference – the difference these days, is that you can impact the causes you care about by including them in your will or estate plan.
Personal philanthropy can help contribute to the sustainability of a not for profit organization or charity of your choice. In life, many of us require some kind of assistance, whether it’s physical, financial or spiritual. Perhaps a local organization or charity has special meaning to you. Maybe you were given a scholarship that made the dream of college possible. You or a loved one may have been shown especially compassionate care in the hospital during an illness or injury. It is during life’s many endeavers, that we are often reminded that more could be done to continue personal philanthropy which support humane acts of kindness, and help uphold programs for personal enrichment. By leaving a gift in your memory you are making a significant contribution to the future sustainability of those charitable and not for profit organizations that you value most.