May is the month to make a plan for giving

May is Leave a Legacy month, an initiative that encourages Canadians to consider their philanthropic goals through planned giving.

Whether it’s a long-term estate plan or a short-term plan, there a many ways to support a cause close to your heart with a meaningful gift. There is a wealth of worthy causes and charities from which to choose while considering how the beneficiaries of your financial support align with your values and interests.

Check in on a charity by consulting the Canada Revenue Agency’s list that is updated daily at apps.cra-arc.gc.ca.

After determining the charitable organizations that you wish to support, consider these ways to leave a lasting legacy.

1. Adopt giving as part of your daily life.

Your employer may accommodate automatic payroll deductions that can be directed to charitable organizations. Investigate pre-authorized debit options through your bank account or credit card. This approach helps you to make donations part of your monthly budget and provides charities a consistent flow of funds. Also, as a donor to a registered charity, you qualify for a tax return credit.

2. Make a plan for future gifts.

The best way to ensure your loved ones and preferred charities will be taken care of after your death is to plan in advance how your estate will be distributed. Options include leaving a set cash legacy, directing certain assets or bequeathing a share of your estate. Outlining your charitable wishes through your will lets you use your assets while you are alive, while knowing that charities that are important to you will eventually benefit from your will. Enhanced charitable tax credits are also available at this time.

The following list provides some examples of charities that rely on donations and could benefit from your planned giving.

Canadahelps

The COVID-19 pandemic has created an urgent need in charities across Canada. Support for hospitals, frontline health-care workers, food banks and organizations that work those in need is an important part of the response. Check out the list of charities at canadahelps.org for short- or longterm donation options.

The Salvation Army

Providing compassionate services in your community, donations support efforts to help those in need overcome poverty, homelessness, addiction and mental illness across Canada and around the world. Contact www.salvationarmy.ca for more information.

The War Amps

Since its founding in 1918, The War Amps programs have grown from assisting war amputees – still served by the charity – to all amputees, including children. A charitable estate donation provided through a will, honours the legacy of war amputees and makes a difference in the lives of amputees through programs like CHAMP for child amputees. For more information visit waramps.ca or contact 1 800 465-2677.

Ontario SPCA

Each year, tens of thousands of animals in desperate need of shelter, care and compassion are brought to Ontario SPCA branches and affiliated humane societies. The Ontario SPCA relies on donors to keep the shelters open and investigators on the street. For information on giving visit www.ontariospca.ca

Nature Conservancy of Canada

Striving to protect natural areas and biological diversity across all regions of Canada, the Nature Conservancy of Canada works with local communities and partners to preserve the natural environment and its species. To learn more about planned giving contact 1-800-465-0029 ext. 2276 or email planned.giving@natureconservancy.ca.