![]() A specific gift can be anything from a lump-sum cash amount, property, to pieces of art. First, you can leave a specific gift to an organization of your choice. This includes property or money after you pass away.Ī legacy gift, also known as a charitable bequest, can be included as part of your estate plan in two ways. Your last will and testament is a legal document that outlines how you wish to distribute your assets. There are a few different ways to leave behind a legacy gift. Maybe you'll inspire somebody to give back as well! Inspiring others: Your gift might also cause others to think about their own philanthropic goals.This can actually help to maximize the value of your residual estate for your beneficiaries When you leave a legacy gift through your will, your estate receives a tax receipt for the full value of the gift, which adds a tax credit to your final income tax return. Tax benefits: The Canadian government has created valuable tax incentives to encourage Canadians to leave legacy gifts.This allows you to leave a more substantial gift than otherwise may be possible in your lifetime ![]() Leaving a larger legacy: Legacy giving doesn’t affect your income today. ![]() Benefits of leaving a legacy gift include: The truth is, you can make a legacy gift without taking away from the gifts left to your family and friends. People often worry that leaving a legacy gift means that there will be less to give to their loved ones. It makes causes that you care about an important part of your life story! Legacy giving is a way to leave a lasting legacy of generosity. What are the benefits of leaving legacy gifts?
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