August 16, 2017

Leaving A Legacy

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The dictionary would define Legacy as a gift or a bequest, that is handed down, endowed or conveyed from one person to another. It is something descendible one comes into possession of that is transmitted, inherited or received from a predecessor.

The idea of leaving a legacy is the need or the desire to be remembered for what you have contributed to the world.

Leaving a Lasting Legacy is sometimes prompted when there comes a point in people’s lives in which they begin to think about what value they have added to the world.

Giving a bequest gift in your will allows you to make a major charitable contribution which may not be possible to make during your lifetime. The benefits of this are:

Reduced taxes – the Charity will issue an official receipt for the full value of the Will bequest. This receipt can then be used to reduce the tax payable on your final return.

Flexible and revocable – A charitable gift can be made for any amount and is revocable at any time should your financial situation change.

Leave a lasting legacy – Your charitable gift will make a real difference to such things as children and communities affected by poverty or other needs; leaving a lasting legacy for you, your family, or anyone you wish to honour.

How does this work?

• A Will bequest can be as simple as a sentence or two naming the Charity in your Will or adding a codicil to your existing Will.

• You can designate a specific dollar amount, a particular asset or a fixed percentage of your estate to a designated charity. You can also request that the principal of your charitable bequest be held in an endowment.

• The designated amount will be donated to a designated charities most urgent needs or you can direct your bequest towards a particular purpose or program.

If you would like to learn more about how my experience and skills may be able to help benefit your nonprofit, or a nonprofit you may be associated with, please do not hesitate to get in touch with me as I would be pleased to meet and discuss the opportunity of working together.

I hope you enjoy my postings and find this information useful. Please follow the link at: http://raveresults.ca/blog/ as I welcome your comments on my Blog.

Thanks,

 

Mitchell Ravvin, BComm, PFPC, CFRE
Professional Fundraiser
Rave Results Inc.
7436 21A Street SE
Calgary, AB T2C 0V9
403-607-3242
www.raveresults.ca

Rave Results Inc. is a professional fundraising service specializing in assisting mid-size nonprofit organizations. Areas of expertise include: Donor Development, Major Gift Fundraising, Sponsorship, Planned Giving, and both Annual and Capital Campaigns.

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