Having a will and estate plan puts you in control, allows you to make decisions now, minimizes the tax burden on your estate, and maximizes the payout to your beneficiaries.
How does donating to charity through your estate benefit me?
A will and estate plan can minimize the impact of taxes on your estate while leaving a donation to the non-profit organizations of your choice by allowing you to designate a tithe to come off your estate as the first step in the process.
During your lifetime, you can use charitable receipts for up to 75 per cent of your net income in a year to offset taxes owing. However, your estate can use charitable receipts for up to 100 per cent of your net income in the year of your death.
If you leave a gift to a registered charity, your estate can use the issued receipts to reduce or eliminate taxes owing.
How do I get started?
Your lawyer or financial planner can help you create a will and estate plan. If you need a lawyer or financial planner we can direct you to stewardship consultants who can walk you through the process of creating a plan at minimal cost.
