Give with your whole heart – Legacy giving lasts

Photo by Jasmine Carter-pexels

Many of us have a cause near and dear to our hearts and want to make a difference when and where we can. Legacy giving is a way to help make a difference long after you’re gone. Also known as planned giving or charitable bequest, legacy giving is leaving a charitable donation in your will or estate plan. It allows you to make a major impact on what you care about long after you have passed away. Your gift can include cash, property, or investments, and can be directed to a specific organization or cause, or into a fund for giving.

The benefits to legacy giving are many. Beyond leaving a gift for the causes and values you care about, it can also provide tax benefits for your estate, which can help maximize the amount of money donated. To make a gift, you should consult a lawyer and an accountant to properly plan your estate and ensure your wishes are expressed appropriately in your will. 

As well, many charitable organizations have advisors that can help you ensure that your gift is distributed according to your wishes and reaches the causes you hold dear. They can also  provide resources and tools to help you understand the different types of legacy gifts and the benefits of legacy giving.

Both the Saskatoon Community Foundation and the South Saskatchewan Community Foundation work with donors and charitable organizations to help people support the causes they care about most. 

Saskatoon Community Foundation works as a bridge with donors who want to direct their donations to the community.  They specialize in highly personalized legacy gifts that reflect the lives of the donors who make these gifts. Gifts can be designated for one or more specific causes or charities, and are administered by the foundation. Their role is to ensure that legacy gifts are directed exactly as they have planned.

“Legacy gifts are central to community foundations—they are part of our DNA. The community foundation movement comes from a collective desire to work together today for a better future for our communities,” says Carm Michalenko, Saskatoon Community Foundation‘s CEO. “We have the honour and privilege of stewarding millions in gifts entrusted to Saskatoon Community Foundation since 1970. We are proud to carry the legacies of those individuals and families and are grateful for their generosity inspiring others to do the same.” 

According to CAGP’s Will Power research, if just 13 per cent of Canadians leave a gift in their will to charity, $58 billion will be generated for social good across the country. Legacy gifts provide funds that allow organizations to thrive, ensuring that the work that inspired the gift carries on.

“Legacy giving is a powerful way to give back to your community or the causes you care about for many years to come. When you donate through a legacy, or endowed gift, it means your donation will grow and be there for today and tomorrow’s generation,” says Donna Ziegler, executive director at the South Saskatchewan Community Foundation. “Through expert financial management, South Saskatchewan Community Foundation pools and invests over $95M in assets. Together we are better able to ensure that your gift will continue to grow faster and you will be able to give back more to charitable causes forever. Imagine donating today and you, your family or your community still seeing the impact of that donation grow and give back 10, 25, or even 50 years from now. That’s what we get to witness every day when families and businesses donate through a community foundation.” 

With careful planning, legacy giving can allow you to support the causes you care about and make a difference in the world long after you’re gone—what an incredible gift to leave behind.