Charitable Giving

There is a belief that making a significant gift to charity means disinheriting your family and friends. This could not be further from the truth.

There are up to three primary beneficiaries of your estate. Perhaps surprisingly, you have the choice of any two of them. Which two would you like to choose?

  1. Family and Friends
  2. The Canada Revenue Agency
  3. Charity

 

Including charitable giving in your planning process can be likened to adopting another child, while at the same time disinheriting the tax man. Our government encourages this, and has legislated what many international tax experts believe to be one of the most advantageous tax environments in the world today to encourage charitable giving..

Many individuals, when they know they have the option, choose to redirect a percentage of their taxes to causes that are meaningful to them. This approach is significantly different from traditional estate planning, which focuses primarily on the money – a more effective approach is driven by life’s most important treasures: relationships and values. If this type of approach resonates with you, there are strategies we can introduce to assist you in both leaving a legacy, and reducing (or often eliminating) all estate related taxes, therefore leaving more for family and friends.

A few ideas to consider:

  • Gifting securities
  • Naming charities as your RIF beneficiary
  • Naming a charity as the beneficiary of life insurance
  • Assante's Charitable Giving Program