How do I want to be remembered and for what?
We are living in an age where unprecedented wealth is being transferred from one generation to the next. Canadians need to know that they have choices about where the taxable portion of their estate goes.
Inadequate, outdated, or – worse – non-existent Wills can reduce an estate’s size through easily avoidable taxes. Many people do not realize the tremendous tax benefits when assets are left to charities, making more after-tax dollars available to your loved ones.
Your estate, regardless of size, has the potential to make an enormous difference in Lesotho. By including Help Lesotho in your will, giving a gift from registered assets, or making a bequest through life insurance, you can leave a legacy for the children in Lesotho and for your own families.
Including a charitable gift in your long-term financial planning helps you access tax benefits that ultimately benefit you and your estate/loved-ones, while enabling you to make a greater contribution to the world around you.
Surprisingly, only 4% of Canadians currently have a plan to leave a gift to charity in their Will.
Are you already one of them, or will you take action to ensure you are remembered the way you hope to be?
Sandra Knight learned about the importance of giving at a very early age. She was an only child who grew up in Thunder Bay, Ontario. Polio prevented her father, a chartered accountant, from active duty during W.W.II, but he found other ways to give and became a lifelong volunteer.
After a 30-year career as a teacher, Sandra is now retired and spends her time traveling and volunteering for several local agencies. She firmly believes in Help Lesotho’s work. She knows that teaching the girls and boys of Lesotho about safe sex, HIV/AIDS and gender equity is essential to saving lives.
A few years ago, when writing her will, her financial advisor suggested she consider a gift to charity in her estate planning. She was proud to name Help Lesotho as the beneficiary of a life insurance policy. Help Lesotho is honoured to have Sandra’s trust and future gift on file as it helps with long term planning and sustainability
Ways to leave a legacy
Include Help Lesotho in your Will
Making plans to leave a charitable bequest by Will is the ultimate opportunity to model your personal values and beliefs of philanthropy to your children and grandchildren, friends and colleagues, while still providing for your loved ones. Leaving Help Lesotho in your Will honours a cause that has meant a great deal to you during your lifetime.
Sample Bequest Wording:
(Please have your lawyer/estate planner review wording)
Specific Bequests
“I direct my Trustee to pay the sum of _____ dollars to Help Lesotho (charitable registration # 82246 8476 RR0001), presently located at 610 Bronson Ave., Ottawa, ON K1S 4E6 to be used for its general charitable purposes of said charity”.
Residual Bequests
“I direct my Trustee to pay and transfer __________ (%) of the rest, residue and remainder of my estate to Help Lesotho (charitable registration # 82246 8476 RR0001), presently located at 610 Bronson Ave., Ottawa, ON K1S 4E6 to be used for its general charitable purposes of said charity”.
Give a Registered Asset
When you name Help Lesotho as the direct beneficiary of part or all of a RRSP or RRIF (without a surviving spouse) it can be a prudent way to reduce the taxes otherwise payable by your estate. Your estate will receive a donation receipt for the entire value of the plan. The credit arising from this donation will offset the tax liability. As a result, the entire value inside a RRSP or RRIF can be given to a registered charity in the year of death with no tax implications.
Name Help Lesotho in your Life Insurance
Next to bequests, life insurance is the most popular type of estate gift. A gift of life insurance will enable you to make a significant future gift for a modest cost. When you name Help Lesotho as a direct beneficiary of your life insurance policy no creditor or other body can access those funds upon death of the insured.
We’re here to help
Giving to charity through your estate can allow you to leave a lasting legacy, while still ensuring those who survive you are taken care of.
For more information please contact Kate Lambert, Director, at 613-369-5868 or kate@helplesotho.org