Leaving a bequest to charity is easier than you think.
What is planned giving?
The definition of planned giving is:
Planned giving is the process of donating planned gifts. A planned gift is a contribution that is arranged in the present and allocated at a future date. Commonly donated through a will or trust.
What are the benefits of giving to charity?
Planned giving has many benefits for you and for Seniors Outreach:
- Can help reduce taxes on your estate.
- Does not deplete your current assets.
- Ensures a lasting legacy after you die
- Can be modified if circumstances change.
- You get to decide how your money or other gift is spent.
Create a legacy by leaving charitable bequests.
Planned giving is a wonderful way to make a larger, lasting contribution to a cause you care about.
One of the major benefits of planned gifts is that they provide a promise of future funding for an organization. There are many ways to give a planned gift, but they’re generally left as a bequest in a will. They’re also occasionally given as large sums of money that a nonprofit can either invest or get an ‘income’ from for a long period of time.
We recommend that you contact your financial advisor or lawyer to start preparing your will, or to add a simple amendment to your existing will. Professional advice will also help you maximize the tax advantages of your gift.
To include a bequest to Seniors Outreach & Resource Centre, the following wording will ensure your wishes are carried out.
- I give to the Seniors Outreach Services Society, the sum of ($ amount).
- I give all (or a specific percentage or shares) of the residue of my estate to Seniors Outreach Services Society.
- I give (insert a specific sum, all or a portion of the residue of my estate) to Seniors Outreach Services Society to be used for a purpose related or benefit to (insert specific purpose)
It is essential that you include the correct name and address:
Seniors Outreach Services Society
115-2065 Benvoulin Court, Kelowna, BC V1W 0A5
Charitable Registration #10796 7622 RR0001
For information or if you have any questions, please contact:
Vi Sorenson, Executive Director