Leave a legacy with a gift that keeps on giving

While “planned giving” is something you’ll hear professional fundraisers talk about, the act of remembering a charity in your will might be more aptly described as leaving a legacy. With a little research and planning now, in death you could leave a gift that will support and nurture our community for years to come.

Instead of, or in addition to, donating money for an organization to use during your lifetime, you can remember that organization in your will, or in the form of a donation to an endowment fund.

When you pass away, the gift becomes the seed from which the organization can reap years of benefit.

WAYS YOU MIGHT GIVE INCLUDE:

• Specific bequest: Donate a specific dollar amount or asset to the organization.

• Residual (or percentage) bequest: Leave all, or a percentage of, your estate after debts, taxes, expenses and other bequests have been made. This allows the actual value of your donation to fluctuate in the event the value of your estate changes between the date you make your will and when you die.

• Designated bequest: Your gift is designated for a specific purpose (i.e. a project or program) rather than to be used at the organization’s discretion. We recommend you discuss your desired designation with the organization to ensure it fits their ongoing needs.

• Contingent bequest: This form of gift takes effect only if the primary beneficiary predeceases you.

There are a variety of items that can constitute part of a planned gift:

• Cash

• Life insurance policies

• Publicly traded securities

• RRSPs, RRIFs or TFSA

• Non-cash assets (i.e. property)

In addition to creating a personal legacy, planned giving offers a host of other benefits: It keeps your assets within your control during your lifetime, can help reduce income or estate taxes, and allows you to provide support for a specific purpose. Another bonus: You can modify your plans and gift at any time before you pass away if your circumstances or wishes change.

This year, the Kelowna Women’s Shelter is celebrating 40 years of service in the community. We offer free emergency and transitional housing to women and their children fleeing intimate partner violence and abuse. The Shelter provides food, clothing, counselling support, advocacy and educational programming designed to help women and families recover and move forward into lives free of abuse.

Why not become part of our legacy, and help us continue building the next 40 years?

You can provide legacy support for Kelowna Women’s Shelter through a direct bequest in your will, and by giving to our endowment fund, established through Central Okanagan Foundation.

For more information on our services and supports and how your planned gift can help, call the Kelowna Women’s Shelter at 778-4787774. For more information on setting up a planned gift, or estate planning in general, contact a lawyer and/or financial advisor.

Planned giving is truly a beautiful way to do something today that will change people’s lives long after you’re gone, and have an impact for generations; it is the gift that keeps on giving!