Leave a Legacy 2016 by Glacier Specialty Publishing

Your Guide to

Legacies and Estate Planning

planned

giving

INSIDE Gifts of private companies and real estate ��page 5 Planning for the next generation ��page 6 Talking with your parents about their will ��page 14 In Honour of a Mother’s Memory �� page 19

+ more

To read this publication online go to

leavealegacyvancouver.com

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November 2016

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message from chair

Canadian Association of Gift Planners, Greater Vancouver Chapter

Leave A Legacy Greater vancouver

Julia Roudakova Lead Strategist for Legacy Giving at FS Financial Strategies

PAOLA CORONADO HASS SENIOR DEVELOPMENT OFFICER, GIFT & ESTATE PLANNING BC CANCER FOUNDATION

It is with great excitement that the CAGP Greater Vancouver Chapter shares our 18 th Annual LEAVE A LEGACY tm publication with you.

he purpose of CAGP is to support philanthropy by fostering the development and growth of strategic charitable giving. CAGP’s members are leaders in Canada’s charitable community, and provide donors and clients with innovative ways of achieving their philanthropic dreams.

The articles in this publication will highlight exactly that: strategic advice and heartfelt giving stories that are transforming –and will continue transforming- our communities for our generation and for those that come next.

What will my charitable legacy be?

Behind every story there is an individual, an organization, or a professional that is supporting the ambitious ideas and goals that are set when our communities want to do better.

I hope you take a moment to feel inspired and to ask yourself, “What will my charitable legacy be?” Once you have your answer, please consider reaching out to your family, your favourite charity and/or your professional advisor to plan the impact you want to make in your community. LEAVE A LEGACYtm is a public awareness initiative of the Canadian Association of Gift Planners (CAGP) that takes place in local communities across Canada. This initiative helps to promote the importance and benefits of leaving a bequest in your will or other planned giving strategy to support the charity or cause that means the most to you. The LEAVE A LEGACYtm initiative provides information on how easy it is for you to support charities through estate planning while still ensuring your loved ones will be cared for through your will. From the LEAVE A LEGACYtm initiative, people can also learn that their bequest to charity will be felt long after their death and that it will have an enormous impact on the future vibrancy of our communities. In this publication, you will find articles that motivate you, inspire you and help guide you in creating your own Legacy Plan that will be woven into the lives and causes of those you care about most.

With my years of experience in the financial services industry, I have come to recognize the financial benefits, and even more so, the life importance of leaving a gift to charity. Fundamentally, I have learned that the charitable motivation and passion manifests for reasons other than tax benefits.

eople want to enrich their lives and to make a difference in their community. This leads us to often support a cause or organization that we care about, to leave a legacy that reflects our values, and to hopefully inspire the next generation, to also leave a simple expression of gratitude. That is why I think it is so valuable to incorporate philanthropy into the conversation when we as advisors help others build their financial and estate plans.

The choices we make about the lives we live determine the kinds of legacies we leave.

I think the best way to describe a Charitable Legacy is to say that it is your life story as told through a well-planned estate.

LEAVE A LEGACYtm is a public awareness initiative of the Canadian Association of Gift Planners (CAGP) that takes place in local communities across Canada. This initiative helps to promote the importance and – Tavis Smiley benefits of leaving a bequest in your will or other planned giving strategy to support the charity or cause that means the most to you. The LEAVE A LEGACYtm initiative provides information on how easy it is for you to support charities through estate planning while still ensuring your loved ones will be cared for through your will. From the LEAVE A LEGACYtm initiative, people can also learn that their bequest to charity will be felt long after their death and that it will have an enormous impact on the future vibrancy of our communities. In this publication, you will find articles that motivate you, inspire you and help guide you in creating your own Legacy Plan that will be woven into the lives and causes of those you care about most. more information LEAVE A LEGACY™ Greater Vancouver – www.leavealegacyvancouver.com.

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Celebrating 20 Years

MAKE A VISIBLE DIFFERENCE!

The difference you make could be life itself

Leave Your Legacy Today.

Leaving a gift in your Will helps thousands of

Your support helps breed, raise and professionally train life-changing dogs for blind/visually-impaired individuals and children with autism.

BC Women’s Hospital Foundation you transform

1.877.940.4504 • info@bcguidedog.com

bcandalbertaguidedogs.com

women and newborns each year. With a legacy to the lives of others for generations to come. To make a donation or learn more:

bcwomensfoundation.org James Carruthers 604.875.2798

Families Need Heroes ... Alex and his mother frequently use our Family Services programs … programs made possible because of thoughtful and generous individuals who chose to leave a gift in their Will. Because of their kindness, children like Alex will get the future they need – the future they deserve. After taking care of your loved ones, please consider leaving a gift in your Will to The Salvation Army. Be a Hero for Hope! Children like Alex are counting on YOU.

Contact Paul or Vicki to find out how easy and beneficial it is to Leave a Legacy: paul_spelliscy@can.salvationarmy.org | vicki_raw@can.salvationarmy.org |

604.299.3908

salvationarmy.ca/britishcolumbia

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Gifts of private companies and real estate Geoffrey W. White Geoffrey W. White Law Corporation & Counsel | Clark Wilson LLP

ntrepreneurs create much wealth in Canada with their businesses and real estate holdings. These dedicated owners are often also very committed to charitable giving. They seek to pass on their community, not diminished, but better than it was passed on to them. However, it is challenging to make gifts from their wealth. Company shares and real estate holdings are often illiquid. Yet, with careful planning, significant gifts can be made now. There are also new gifting opportunities coming in 2017. Consider an example of Daniel and Helen - two successful siblings. Daniel grew a family business; and Helen assembled a real estate portfolio. Daniel wishes to create an ongoing endowment to fight poverty issues. Helen wishes to help a youth community centre.

80% of the appraised value. Helen will receive a tax receipt for the difference between the amount paid and the appraised value. The sale proceeds and the tax savings from the receipt will more than offset any taxes triggered by the sale. Helen’s future gift – The new rules in 2017 may also benefit Helen. The capital gains taxes that would be triggered by a sale of real estate may be reduced to the extent that Helen gifts proceeds of the sale to a charity within 30 days of the sale. Again, the proposed rules have complexities, but Helen may want to keep them in mind for future planning. Entrepreneurs are a driving force in our community. With careful planning, they can share their success and pass along our community even greater than it was passed on to us. 434 Glenwood Avenue | Kelowna, BC | V1Y 5M1 Tel: 250.712.2205 | Fax: 250.712.2208 Email: gwhite@bcestatelaw.com www.bcestatelaw.com

900-885 West Georgia Street Vancouver, BC | V6C 3H1 Tel: 604.687.7751 | Fax: 604.687.6314 Email: gwhite@cwilson.com www.cwilson.com | Contact Information | Profile

Your legacy. His life. Please leave a gift in your Will.

Daniel’s current gift – Daniel has a challenge. Complex rules apply to gifts of private company shares. The default tax rule prohibits a charity from issuing Daniel a tax receipt (to reduce his taxes) unless the charity sells the gifted shares within five years of the donation. Fortunately, there is an “exempted gift” rule. The five year sale period is avoided if the shares are gifted to an “arm’s length” public charity such as Daniel‘s community foundation. The foundation can hold the gift in perpetuity and produce an annual income. Daniel can advise about distribution of the income to his preferred charities.

1.888.663.3033 bcchf.ca/legacy

Ensure your legacy endures

However, without further planning, the foundation would have valuable shares but no easy way to produce an income for the annual gifting. Instead of giving his current shares, Daniel could reorganize to create and donate new preferred shares with a fixed value. These shares could then be repurchased from the foundation by the company in yearly installments to create a cash flow. Each repurchase would usually be taxed as a dividend, but the foundation can receive it tax free. Each repurchase may also allow Daniel’s company to claim a refund of some pre-paid taxes (amounts that may have been collected from past company earnings). The refund may be up to 1/3rd of the repurchase amount. This gift plan is just one of the options available to Daniel. In the right circumstances, it reduces taxes now and creates an ongoing annual refund. It gives the foundation a secure gift and cash flow for the annual income. Most importantly, Daniel will fulfill his wish to make his community better. Daniel’s future gift – In the future, Daniel’s long-term plan may be to pass his business on to the next generation, but it might also be sold. After 2017, in a sale situation, new tax rules may give Daniel extra savings by eliminating the tax on the capital gain in his shares – somewhat like the current rules for gifts of publicly-listed shares. However, the proposed rules are more restricted. Still, if Daniel thinks he might sell and also continue his philanthropy, then it is important that he be aware of this option now - as he prepares his company for that possibility. Helen’s current gift – Helen has learned that the youth centre is searching for a new permanent location. One of the properties that Helen has held in her portfolio for many years is well-suited to their needs. However, Helen cannot afford yet to gift the full value of the property. Helen can arrange a “bargain sale.” The youth centre society will pay up to

A DISCIPLINED STRATEGIC PROCESS FOR CHARITABLE GIVING We are committed to helping you achieve your financial, charitable, and lifestyle goals through a planning-based approach. A comprehensive charitable planning process has 6 steps: Step 1: Creating a profile Step 2: Clarifying Charitable Goals and Objectives Step 3: Analysis Step 4: Create a Charitable Plan Step 5: Independent Implementation Step 6: Monitoring & Reporting For more details, please contact us: Patrick McGuire | 604.732.6551 | pmcguire@rogersgroup.com Brian McGuire | 604.737.6715 | bmcguire@rogersgroup.com 1701 West Broadway | rogersgroup.com ©2016 Rogers Group Financial Advisors Ltd. | Rogers Group Investment Advisors Ltd., Member Canadian Investor Protection Fund

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Planning for the next generation Vanessa Woznow Volunteer Study Buddy Mentor Big Sisters of BC Lower Mainland

Big Sisters strives to build a sense of extended family: women helping younger women who are at risk or facing specific challenges. – Shelley Parker

TH FOR E F

. ST

PA U

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URE UT

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Shelley Parker and Little Sister Heidi. Photo: Brandon Elliot

L’S H O S P

“I thought about becoming a Big Sister for a long time before I signed up for an information session,” says Shelley Parker. “I have only reaped extraordinary rewards from my decision to volunteer with this organization,” she says. “Witnessing the transformation of a child into a confident, aware, and motivated young woman is a remarkable thing.” Like other Big Sisters of BC supporters, Shelley is making plans to help the organization in the long-term, by including the organization in her will. “With planned funds they can count on, Big Sisters can plan for growth, and with growth they can serve more girls. It makes sense!” says Shelley. “It’s so emotionally meaningful and satisfying to know that making a bequest to Big Sisters will help provide other young women with mentors for years to come. By donating in my will, I will be helping sponsor a new generation of Big and Little Sister matches.” Shelley was also attracted to how easy it is to plan a gift. “One simple sentence in your will can impact a lifetime of change.” Shelley truly believes that the effect of her donation – and other similar donations – will spill over to other areas, and will be felt for years to come. “Big Sisters strives to build a sense of extended family: women helping younger women who are at risk or facing specific challenges. My gift to Big Sisters will make sure that this goal continues to be a reality for many extraordinary young women.” Securing your future is an important part of your life. After you have created your will, planned your intentions and taken care of your loved ones, consider making a planned gift to your favourite charitable organization. In addition to certain tax advantages that a planned gift brings, it is a philanthropic means to support a cause that you value. There are many ways to make planned gifts to Big Sisters of BC Lower Mainland. To find out how you can create or add to a legacy, contact Lisa Rosales, Individual Giving Officer, 604-873-4525 ext. 316 or lrosales@bigsisters.bc.ca.

Is St. Paul’s your hospital?

Plan today to help St. Paul’s tomorrow.

Keeping Families Close Leave a Legacy for BC children and families

To learn more about making an estate gift to St. Paul’s, contact: Karen Brown, LLB Director, Legacy & Estate Giving 604.806.8271 kbrown@providencehealth.bc.ca Charitable Registration No. 11925 7939 RR0001.

Your gift to Ronald McDonald House BC and Yukon will provide safe, affordable accommodation and support for 2,000 families with seriously ill children each year at our 73-bedroom House. Contact us for information: 604-736-2957 plannedgiving@rmhbc.ca

www.rmhbc.ca

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An accountant’s charitable giving tip: donate securities Ellen Schappert BC Children’s hospital foundation

A gift of stocks in his Will allows a savvy retiree to cut estate taxes—and help sick kids get better.

f anyone knows how to handle money wisely, it’s Ron Jansen.

Every year, the Chartered Professional Accountant (CPA, CGA) and Surrey resident donates to several charities, including BC Children’s Hospital. His rationale is simple: “It’s the right thing to do.”

It’s clear that generosity is an essential part of Ron’s core values. The retired businessman donates stocks that have increased in value over the years, his preferred way to give because it nets him the best bang for his charitable buck. “I’ve got stocks I’ve held for a long time that have appreciated quite a bit, so there are lots of capital gains coming up,” Ron explains. ”This is a good way of eliminating the tax.”

capital gain. You’ll then receive a charitable tax credit that can reduce your income tax bill. Ron recently arranged a legacy gift of securities to lessen the tax payable on his estate. Normally soft spoken, he waxes enthusiastic over this way of donating. “If you’re going to give and you can give three times as much as what it’s costing you, isn’t that great?” Child health is important to Ron—and he knows his securities gift will make a big impact at BC Children’s Hospital. That’s why, with the help of his lawyer, he included a donation of stocks to BC Children’s Hospital Foundation in his Will. “She was very, very good,” he says of his lawyer. “We went through a lot of different ideas until I settled on what to do and had a new Will drawn up.”

Ron Jansen & Joyce Barley.

Ron says the many stories he’s seen on television about sick children who go on to thrive, thanks to the care they receive at BC Children’s Hospital, have inspired him to keep on giving. It’s not just the tax breaks that matter, but the impact of his donor dollar, he says. Simply put, it’s all about helping sick kids get better so they can reach their full potential. “It’s a very good cause for children,” he concludes. “That’s where we all start. That’s why helping children is important.”

Donating securities to lower your tax bill may sound more complicated than it is. If you, like Ron, own publicly-traded securities that have increased in value and decide to sell them, 50 per cent of your capital gain is taxable. However, if you donate the same securities directly to a charity, you eliminate tax on the

What’s vital to Garry and Pat Walker?

more information To learn more about how to include a gift to BC Children’s Hospital Foundation in your estate plans, please contact the Gift & Estate Planning team at 604.875.2444 or 1.888.663.3033. You can also email us at legacy@bcchf.ca or visit us at bcchf.ca/legacy.

Leaving a legacy for healthier communities and exceptional patient care Join the Walkers by leaving a legacy gift in your will. Ensure that excellent care is here when those you love need it the most.

“Incredible doctors, nurses and medical staff, and my wife’s love and support, helped me recover while in the bone marrow transplant unit. Today, I’m walking and lifting weights again. The hospital saved my life.” – Garry Walker, White Rock, BC

Please contact: Charlene Taylor Associate Director, Gift and Estate Planning charlene.taylor@vghfoundation.ca 604 875 4917 or 1 877 875 4676 or visit vghfoundation.ca

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Charitable giving using segregated funds Heidi U. Pullem Certified Financial Planner

How would you like to be remembered?

Clients will often ask how best to include charitable giving in their estate plan. As donors, they want to make their charitable gifts pass as quickly, privately and most cost effectively as possible.

Be a celebrated guardian of Canadian Wildlife. We have a special title for those that name us in their will or estate plans: Wilderness Guardians Estate gifts ensure that Canada’s wild species and spaces will endure. But we can only give you the benefits of a Wilderness Guardian if you let us know your intent. Join today. Notify us. Collect the benefits. *Benefits: personalized updates, guided field trips and more...

Learn more at: WildernessCommittee.org/legacy Michelle Johnson Victoria (250) 388-9292 Vancouver (778) 708-9179

46 E. 6th Avenue, Vancouver, BC V5T 1J4 1-800-661-9453 (toll free) plan@wildernesscommittee.org

ften they have concerns about efficient tax planning, but often they want to avoid contentious and/or time-consuming situations that might delay or reduce their precious and much needed gift. Suggesting investments in Segregated Funds, as part of their estate plan, addresses many of these concerns. From an investment perspective, Segregated Funds are professionally managed pools of equity, balanced, and fixed income vehicles. What makes them distinctive is that they are issued by insurance companies, and provide unique benefits. Whether the investment is registered (RRSP, RRIF, TFSA), or non-registered, you can designate one or more beneficiaries (i.e. your favorite charities) so that on your death, your investment is paid directly to your beneficiary, thus bypassing your estate. This means:  Privacy. Wills become a public document  Larger gifts. No probate fees, legal or accounting costs apply F ast distributions. Only your death certificate and the beneficiary’s

direction is needed

N o Wills Variation claims. BC requires that spouses and children be

treated ‘fairly’ regardless of your wishes or reasons for them. A court can override what you have directed in your will.

 No Creditor Claims (unless fraud is suspected)

We’ve been changing lives for over 85 years. Help us keep our community strong in the future too. Consider leaving a legacy gift to United Way of the Lower Mainland in your will. When we work together, amazing things are possible.

You can always change your beneficiary(s) and investments, plus they offer Death Benefit Guarantees to ensure that your original investment is not subject to market risk. They can also provide tax efficient income or lump sums at any time. While clients enjoy these features and include them as part of their estate plans, its important that I work closely with them to ensure that we open these contracts before they reach certain ages, and ensure they designate their beneficiary(s) while still capable of doing so. In meeting one of my older clients and discussing his desire to leave a large gift to a charity like the Alzheimer Society of B.C., he revealed his concern that if he suffered dementia in the future, his son as power of attorney might later change (or contest) his beneficiary designation. We discussed the importance of his opening the Segregated Fund contracts before ‘capacity’ is an issue, as changing a beneficiary, just like writing a will, is not something that a power of attorney is authorized to do.

To learn more, please contact: Michelle Bernard Manager of Philanthropy 604.268.1300 ext. 2442 michelleb@uwlm.ca or visit uwlm.ca/planned-giving Charitable Registration No. BN108160185 RR 0001

more information Heidi U. Pullem is an independent Certified Financial Planner specializing in retirement and estate planning, investments and insurance. She can be reached at 604.808.8334 or pullemwealthmanagement@outlook.com.

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Giving from the heart Linda Foster Development Officer of Planned Giving, Covenant House Vancouver

hen trying to decide which charity to leave a legacy gift to, start with a few causes that you are most passionate about and ask yourself these questions:

 Which

volunteer experiences did I find the most rewarding?

 Which

causes have I supported that gave me the greatest satisfaction?

W hat

are my top three values that I feel I can express through charitable giving?

 Are

my family members involved in my charitable giving?

 What

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do I want to be known for?

Once you answer these questions, it becomes a little easier to answer the big question “What is the legacy I want to leave?” One great example of someone who has truly left a legacy is Susan Gibson. Susan spent five years volunteering as a gardener and an assistant at Covenant House Vancouver. As a volunteer, she saw first-hand how having a safe place to call home and providing unconditional love and absolute respect to youth can change their lives for the better.

Susan volunteered weekly until she was diagnosed with terminal cancer and fell ill in 2015. Susan knew right away she wanted her legacy to include helping the young people even when she was no longer with us. As part of her legacy and lasting memory, she left a very generous gift to Covenant House, in particular for the garden and the youth program she volunteered for.

Susan Gibson and her grand-daughter, Lau.

Since Susan’s passing on November 5th, 2015, her family has visited Covenant House Vancouver. They heard stories from staff and youth who knew Susan. Her family was given hand-made cards with personal, warmhearted messages and a photo of Susan on her last day of volunteering.

The family was so touched and was able to feel close to Susan again. They were so thankful and appreciative of how Susan’s legacy was honoured and how everyone is so passionate about their work with young people. As part of her lasting legacy, Susan truly gave from her heart. more information If you would like to learn more about how you or a loved one can leave a legacy, please contact Linda Foster at (604) 639-8913 or lfoster@covenanthousebc.org.

Kate Ludlam Donor Relations, Langley Memorial Hospital Foundation

recalls. Even after leaving Langley Memorial in 1979 to care for her ailing mother, the hospital was never far from her thoughts.

After graduating as a registered nurse from VGH, Doris made the move to LMH in 1956. Doris spent several years on and off working in the “Cottage” hospital, but she was always drawn back to Langley. When she came back to Langley Memorial for the third time, she met and married her husband, John, and moved to his family’s farm near the hospital. When asked what pulled her back, Doris struggled to put it in words. “Everyone who worked at the hospital, the medical staff and Miss Marion Ward (the hospital matron) were such wonderful people”, she says. With her experience working in a big city hospital, Doris described the environment of working in Langley as more relaxed. “Everyone worked hard, and was treated well and with respect. It really was a lovely place to work and the camaraderie amongst the staff was something that had to be experienced to be believed’, she

Susan’s grand-daughter, Lau Mehes, shares that “Covenant House and gardening were two of my Gramma’s big loves in life. The opportunity to combine the two allowed her to cultivate a love of nature, beauty, and dedication with the youth at Covenant House. These values she held dear. Working with the youth and making sure the garden was cared for gave her a great sense of purpose, and relationships she valued deeply.”

Giving back through their gift oris Riedweg had a rather romantic introduction to the ‘hospital on the hill’ from a friend who called it ‘the best little hospital in BC’. At the time, she had no idea the impact Langley Memorial would have on her life.

Doris & John Riedweg.

‘The best little hospital in BC’ has been an important part of John’s and Doris’ life for over 60 years. As a demonstration of the love they have for their community and for Langley Memorial, they have included a gift in their will. “The hospital has meant a lot to both of us. I have wonderful memories of working there, and we both have needed the hospital on several occasions. For us, it was a personal decision

but it made sense - we love living in Langley, have deep roots here and felt it was important to give back to the community that given so much to us,” says Doris, “and I know firsthand Everyone how important worked hard, it is to have a and was hospital that treated well is modern and well-equipped to and with care for patients respect. and their families.” – Doris Riedweg Patient care and treatment has advanced tremendously and we can only imagine what’s going to happen in the future. By including the hospital in their will, Doris and John are leaving a legacy of care and compassion that will benefit our community for years to come. more information For more information please contact Kate Ludlam, Langley Memorial Hospital Foundation: kate.ludlam@fraserhealth.ca

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Sally Baker

a Woman of Substance

Sally, alongside friends she met decades ago at the Housewives’ Holiday program, regularly attended Aqua Lite classes at the YWCA Health + Fitness Centre, and afterward enjoyed brown bag lunches in the lobby of the YWCA.

woman of substance is a woman of power, a woman of positive influence and a woman of meaning. Sally (Sara) Baker was all of those things. Following her 1946 arrival in the “middle of snowhere, Saskatchewan” from the UK, Sally and her family made subsequent moves to other Canadian provinces before deciding to call Vancouver home. It was here that Sally first got involved with the YWCA, a relationship that would span more than 50 years. In a 2012 interview, she reflected upon those early YWCA days: “Way back in the sixties, the YWCA had these courses called Housewives’ Holiday where you went and took your child. Your child was taken care of while you did exercises and took a course.” The courses to which Sally referred covered topics such as budgeting and household management. Sally recalled that in those days, kindergartens and women’s community programs didn’t exist, so the YWCA filled an important social programming gap. Following her Housewives’ Holiday experience, Sally became an active YWCA

Sadly, Sally passed away. She is missed at Aqua Lite classes and at YWCA events, which Sally frequently attended. But Sally’s impact on the YWCA continues to be felt. As a member of the YWCA Legacy Circle, Sally was thoughtful enough to include a bequest to the YWCA in her will, ensuring that her positive influence lives on. more information Sally Baker, member of the YWCA Legacy Circle.

volunteer, and in the mid-70s, joined the Board of Directors where she served three terms, two of them as Vice-Chair. She was a committed member of the YWCA Friendship Circle, supported many of our capital campaigns and later became a member of our Legacy Circle, a loyal group of donors who include the YWCA in their estate plans.

To learn more about joining the YWCA Legacy Circle, please contact Celia Campos at 604-895-5810, ccampos@ywcavan.org or JoAnne Fahr at 604-895-5829, jfahr@ywcavan.org.

Does disability touch your life?

There are a growing number of Canadians with disabilities – and we’re not ready. The team at the Rick Hansen Foundation is championing and creating programs to create universal accessibility in the buildings and places where we all live, work and play. Let’s build a world that’s accessible for everyone.

To learn more visit: www.rickhansen.com/Get-Involved or call Renee Eaton at 1-800-213-2131 ext 1550.

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The many ways of giving Mike Beishuizen Westcoast Wills & Estates

lot of people don’t have the resources to make substantial donations to charity during their lifetimes, preferring rather to hold on to their savings for a rainy day. Luckily for these people, there are numerous ways to donate to charity when they die. Best of all, if they do so, they will receive a tax credit for the amount of the donation, which may be used to offset taxes payable at death. Donating through a Will is the most common method, but donations can also be made through a beneficiary designation on certain types of assets. There are many ways to donate to a charity in a Will. Examples include leaving a charity a specified lump sum of money, a gift of real estate or personal property, or a percentage of the remainder of the estate (called the “residue”). The purpose of the gift can be specified, or the charity can be left to decide how to use the gift according to their needs. If a charity is named as a beneficiary of life insurance or a Tax Free Savings Account (“TFSA”), the financial institution gives the proceeds directly to the charity. Since the gift is paid outside of the estate, the amount is not subject to the probate process or the probate fee of roughly 1.4% in BC. For this

, He s ready to take off. Mental illness and addiction , shouldn t hold him back.

reason, this method is advantageous for the charity as well, as they usually easily receive these proceeds quicker than if the gift were made in a Will. Naming a charity as a beneficiary of retirement funds such as RRSPs or RRIFs also bypasses the probate process and the probate fee. However, unless these registered accounts are given to a spouse or to a financially dependent child or grandchild, the entire amount is taxed as ordinary income upon death, often resulting in a large tax bill. For this reason, putting a charity as beneficiary of RRSPs or RRIFs can be risky unless done so as part of a carefully considered estate plan. There are many ways to donate upon death, including through a Will or beneficiary designation. Careful planning will ensure that your gift will have the most effect with the least amount of taxes. more information Mike Beishuizen is a lawyer at Westcoast Wills & Estates, a law firm that focuses exclusively on estate planning law and probate. Westcoast Wills & Estates proudly donates 3% of revenue to charity.

During the last 37 years, Wildlife Rescue has treated over 100,000 injured animals

Early intervention is the key. Go to b4stage4.ca

Your gift can help us provide care and support for more people in over 100 BC communities. From youngest to elders, we help save lives. Every day, we help people to thrive—not just survive. But we need your help to build a future where mental health doesn’t wait until Stage 4.

How will your legacy impact our world?

604.688.3234 www.cmha.bc.ca

To learn more: giving@wildliferescue.ca 604 526 2747 ext. 502 wildliferescue.ca

Help Us Help Them

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LEAVE A LEGACY TM – PartnershiP List 2016/2017 Further information on the LEAVE A LEGACYTM program can be obtained by visiting the LEAVE A LEGACYTM Greater Vancouver website at leavealegacyvancouver.com or by emailing info@ leavealegacyvancouver.com. Information on how your organization can become a LEAVE A LEGACYTM Greater Vancouver Partner can be obtained by emailing partnership@leavealegacyvancouver.com. ALS Society of BC Rena Mendoza, donor-relations@alsbc.ca www.alsbc.cat

FS Financial Strategies Inc. Julia Roudakova, julia.roudakova@fsfinancial.ca www.fsfinancial.ca

Alzheimer Society of BC Leona Gonczy, LGonczy@alzheimerbc.org www.alzheimerbc.org

Greater Vancouver Food Bank Society Heidi Magnuson-Ford, HeidiMF@foodbank.bc.ca www.foodbank.bc.ca

Archdiocese of Vancouver Esther Jang, ejang@rcav.org rcav.org

Knowledge Network Corporation Donna Robinson, donnar@knowledge.ca www.knowledge.ca

BC & Alberta Guide Dogs William Thornton, info@bcguidedog.com bcandalbertaguidedogs.com

L’Arche Foundation of Greater Vancouver Sig Stark, sstark@larchevancouver.org www.larchevancouver.org

BC Children’s Hospital Foundation Hilary Beard, hbeard@bcchf.ca www.bcchf.ca

Langley Memorial Hospital Foundation Kate Ludlam, kate.ludlam@fraserhealth.ca www.lmhfoundation.com

BC Women’s Hospital & Health Centre Foundation James Carruthers, jcarruthers@cw.bc.ca www.bcwomensfoundation.org

Maple Ridge/Pitt Meadows Community Services Vicki Kipps, vkipps@comservice.bc.ca www.comservice.bc.ca

Big Brothers of Greater Vancouver Foundation Tracey Barr, tbarr@bbgvf.com www.bigbrothersvancouver.com

McLaren Housing Society of British Columbia Kim Stacey, kim@mclarenhousing.org www.mclarenhousing.com

Big Sisters of BC Lower Mainland Lisa Rosales, lrosales@bigsisters.bc.ca www.bigsisters.bc.ca

NightShift Street Ministries MaryAnne Connor, info@nightshiftministries.org nightshiftministries.org

British Columbia Lung Association Scott McDonald, mcdonald@bc.lung.ca www.bc.lung.ca

Pat McGuire, Rogers Group Financial Pat McGuire, pmcguire@rogersgroup.com www.rogersgroup.com

British Columbia Society for the Prevention of Cruelty to Animals Yolanda Benoit, ybenoit@spca.bc.ca www.spca.bc.ca

PLEA Community Services Society of BC Jenny Graham, jgraham@plea.bc.ca www.plea.ca

Bull, Housser & Tupper LLP Margaret Mason, mhm@bht.com www.bht.com Canuck Place Children`s Hospice Denise Praill, denise.praill@canuckplace.org www.canuckplace.org Covenant House Vancouver Linda Foster, lfoster@covenanthousebc.org www.covenanthousebc.org Clark Wilson LLP Richard Weiland, RWeiland@cwilson.com www.cwilson.com Crisis Intervention & Suicide Prevention Centre of British Columbia Kyle Tiney, ktiney@crisiscentre.bc.ca crisiscentre.bc.ca Crossroads Hospice Society Anna Wilczewski, info@crossroadshospice.org www.crossroadshospicesociety.com Dignity Memorial Victor Lee, Victor.Lee2@Dignitymemorial.com www.dignitymemorial.ca DLA Piper (Canada) LLP Roger Lee, roger.lee@dlapiper.com www.dlapiper.com

Public Guardian and Trustee of British Columbia Bryce Somerville, bsomerville@trustee.bc.ca www.trustee.bc.ca Ridge Meadows Hospital Foundation Laura Cherrille, laura.cherrille@fraserhealth.ca www.rmhfoundation.com Ronald McDonald House BC Richard Pass, rpass@rmhbc.ca www.rmhbc.ca Royal Columbian Hospital Foundation Catherine Cornish, catherine.cornish@fraserhealth.ca rchfoundation.com Scotia Wealth Management Dave Lee, dave.lee@scotiawealth.com www.dave-lee.ca Simon Fraser University Cary Gaymond, cary_gaymond@sfu.ca www.sfu.ca Solus Trust Company Limited Mark Oldham, moldham@solustrust.com www.solustrust.com Sources Community Resources Foundation Tammie Schellekens, tschellekens@sourcesbc.ca sourcesfoundation.ca

Ecojustice Canada Society John Keller, jkeller@ecojustice.ca www.ecojustice.ca

Spina Bifida and Hydrocephalus Association of British Columbia Pauline Dooley, sbhabc@shaw.ca www.sbhabc.org

Family Support Institute of BC Society Angela Clancy, aclancy@fsibc.com www.familysupportbc.com

St. Paul’s Hospital Foundation Karen Brown, KBrown@providencehealth.bc.ca helpstpauls.com

Surrey Hospital & Outpatient Centre Foundation Yolanda Bouwman Yolanda.Bouwman@fraserhealth.ca www.championsforcare.com Surrey Libraries Cyndy Hill, cahill@surrey.ca www.surreylibraries.ca The Kettle Society Nancy Keough, nkeough@thekettle.ca www.thekettle.ca The Kidney Foundation of Canada, BC Branch Pia Schindler, pias@kidney.bc.ca www.kidney.bc.ca The Nature Trust of British Columbia Deb Kennedy, debkennedy@naturetrust.bc.ca www.naturetrust.bc.ca The Salvation Army Vicki Raw, Vicki_Raw@can.SalvationArmy.org www.salvationarmy.ca Trinity Western University Inga Warnock, warnock@twu.ca www.twu.ca Union Gospel Mission Christiane Sim, CSim@ugm.ca www.ugm.ca United Way of the Lower Mainland Michelle Bernard, michelleb@uwlm.ca uwlm.ca Vancity Community Foundation Jacqueline Dagg, jacqueline_dagg@vancity.com www.vancity.com/vcf Vancouver Foundation Calvin Fong, calvin.fong@vancouverfoundation.ca www.vancouverfoundation.ca VGH & UBC Hospital Foundation Charlene Taylor, harlene.taylor@vghfoundation.ca vghfoundation.ca West Vancouver Community Foundation info@westvanfoundation.com www.westvanfoundation.com Westcoast Wills & Estates Mike Beishuizen, mike@westcoastwills.com www.westcoastwills.com Western Canada Wilderness Committee Michelle Johnson, michelle@wildernesscommittee.org wildernesscommittee.org WRA Wildlife Rescue Association of BC Coleen Doucette, coleen@wildliferescue.ca wildliferescue.ca York House School Priscilla Clark. priscilla_clark@yorkhouse.ca www.yorkhouse.ca Zajac Ranch for Children Carmen Zajac, info@zajac.com www.zajacranch.com

Conserving Land in BC for Future Generations since 1971

Donate Today www.naturetrust.bc.ca 604-924-9771 or 1-866-288-7878

leave a legacytm

Make a Difference in the Lives that Follow

Talking with your parents about their will learn more

leavealegacyvancouver.com

Michelle Bernard Manager of Philanthropy, United Way of the Lower Mainland

We grant wishes because wishes change lives.

LEAVE A LEGACY OF HOPE A will is an important document designed to fulfil your parent’s final wishes for you and the many other people who were important to them during their lifetime.

Esme, Age 6, Leukemia

I wish to go to Maui!

MAKE-A-WISH® BC & YUKON www.makeawishbc.ca 604.688.7944 bcchapter@makeawish.ca

sking your parents about their will is not about you being nosy: this is about you honouring their decisions and letting them know that you understand and respect their choices.

In my role as a charitable gift planner I often speak with the family members who are surprised to learn that their loved one has named a charity in their will. Often they may have had no idea that their parent supported the charity or in some cases, many charities. When I speak to them about their parent’s giving history and of their volunteer role with the charitable organization, they are genuinely surprised. This is a side of their parent they never knew! On more than one occasion, I’ve come away from these conversations feeling sad that they didn’t get a chance to know the person that I knew. My challenge to all who are reading this article is to have that conversation with your parents today. Ask your parents if they have left a gift in their will to any charities. In addition to learning more about your parents and their interests, you can also suggest reviewing their will with them, and ask them questions about the decisions they have made. Perhaps their will hasn’t been updated for a long time and there may be new grandchildren or great grandchildren to consider. A will is a living document and should be updated every 5 years or whenever there has been a significant life event. Learning more today about your parents’ wishes allows you to have a better understanding of why they have made the decisions they have so when the time does come there are no surprises. P.S. This may also serve as a reminder of the value to you to write or review your own will. more information For more information contact Michelle Bernard, Manager of Philanthropy, United Way of the Lower Mainland at: 604.294.8929 ext. 2442 • michelleb@uwlm.ca • uwlm.ca

leave a legacytm

November 2016

Make a Difference in the Lives that Follow

Leaving a legacy for nature Robin Rivers Communications Manager, The Nature Trust of British Columbia

Most people aren’t comfortable contemplating their death. Others realize it is something that comes to us all. So even though difficult, it is wise to decide what happens to your estate before you are gone. It is all part of prudent planning. For most people fortunate to have family, family is often the first priority. But after taking care of family, who else do you want to benefit from your estate? You can ensure your values live on through the philanthropic work of your favourite charities and I hope you will consider including the environment. Call it, “Leaving a Legacy for Nature”. Nature can use some help. It is often battered and bulldozed, not necessarily deliberately, but by the almost ceaseless pressures of development. This doesn’t have to be the only option. Land and the ecosystems it contains can be conserved. A gift from your estate can help protect important habitat for all species, including humans. There’s a double benefit – a gift to nature through a registered charity can mean saving your beneficiaries on taxes and saving a special piece of natural habitat.

For peace of mind that your bequest to protect nature is itself well protected, you should consider a well-established, well-run charity that specializes in conservation. Al Pelter, a widower in his 89th year, decided his three children will get the bulk of his estate. But as a keen environmentalist, Al wants his interest in the environment backed by a bequest. Al grew up on a small farm near Ladysmith where he became fascinated with soil and nutrients. This led to a degree in Agriculture from UBC and to capping off a 36-year career in agriculture as Director of Livestock for BC. Although not a rich man, Al is comfortable and wants to share some of his estate with groups such as The Nature Trust of BC Al Pelter enjoying his garden. that work to protect fish, wildlife, and the environment. Al appreciates that it is the oldest provincial land trust operating exclusively in BC and the Board is made up of leading business people and top notch scientists. Al is leaving a portion of his estate to the Victoria Foundation with specific instructions that it parcel out an annual gift – forever – to the charities he favours. The Nature Trust of BC is very grateful to be included in Al’s estate plan. more information Please discuss with your family and your legal and/or financial advisor how you can “Leave a Legacy for Nature” through a bequest to The Nature Trust of BC. You are welcome to call The Nature Trust of BC 604-924-9771 or visit www.naturetrust.bc.ca

FINE ART ANTIQUES S

Estate Estate Planning Planning and and Disposition Disposition For over 100 years Maynards has been providing assistance to executors and estates For over 100 years Maynards has been in the appraisal of fine art, antiques andproviding jewellery. assistance to executors and estates in the appraisal of fine art, antiques and jewellery. In today’s rapidly changing market, our appraisal experts use the latest strategic In today’s rapidly changing market, our appraisal experts useclients. the latest strategic marketing techniques to return maximum sales value to our marketing techniques to return maximum sales value to our clients. We routinely provide evaluations for major financial institutions, law firms and We provide evaluations for major financial institutions, law firms and trustroutinely companies to assist their clients in estate planning and disposition. trust companies to assist their clients in estate planning and disposition.

Service We Can Provide: Service We Can Provide: • Advice on family division • Advice on family division • Evaluations of personal property • Evaluations of personal property • Assist in organizing distribution of personal property • Assist in organizing distribution of personal property • Organizing charitable donations • Organizing charitable donations • Sale to North American and International markets • Sale to North American and International markets

For more information contact our Fine Art and Antiques Department, For more675-2228 information contact Art and Antiques Department, at (604) or via E-mailour at Fine antiques@maynards.com at (604) 675-2228 or via E-mail at antiques@maynards.com Scan with Scan with

to learn more. toconducted learn more. Maynards has over 1000 charitable fundraising events, and is a proud supporter of the following foundations: Maynards has conducted over 1000 charitable fundraising events, and Maynards has conducted over 1000foundations: charitable fundraising events, and is proud supporter of the following is proud supporter of the following foundations: Boys & Girls Clubs of Greater Vancouver

1837 MAIN STREET, VANCOUVER, BC. V5T 3B8 • (604) 675-2228 • WWW.MAYNARDSFINEART.COM 1837 MAIN STREET, VANCOUVER, BC. V5T 3B8 • (604) 675-2228 • WWW.MAYNARDSFINEART.COM

leave a legacytm

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Help keep W families close when it matters most

hen 17-year-old Megan Senn was diagnosed with leukemia in September 2015, she and her mom Karen had only an hour to pack before driving to Vancouver. Their doctor told them to bring clothes for a couple of weeks, but they ended up staying in Vancouver, near the hospital, for almost a year without going home to Salmon Arm even once. For Megan’s family, and thousands more families who live outside the Lower Mainland, a child’s serious illness turns life upside down. Parents feel emotional and financial strains from being away from home and siblings are also thrust into the upheaval. That’s where Ronald McDonald House BC and Yukon comes in. RMH BC provides comfortable and safe accommodation for seriously ill children and their families, just steps away from their hospital appointments. In 2014, our facility grew from a 13-bedroom House to a new 73-bedroom House which can serve up to 2,000 families each year.

For Megan and Karen, staying at RMH BC provided normalcy during their year in Vancouver – a place to cook meals, do laundry, and relax after long days of chemotherapy treatments. Megan also enjoyed volunteer-run programs such as massages and nail painting days.

Formore information, contact:

Staying at RMH BC also helped to keep Megan’s family close when they needed each other most. Megan’s older sisters were able to visit for the holidays, and her younger brother Connor was able to stay with them full-time. Not only did he support his sister, but he was also able to find support from other siblings at the House, all sharing a common experience.

FirozMahmud, Firoz Mahmud, Manager , Manager, i n cl u det h eRedCr o s i include the Red Cross inn yourwi your willl Legacy Giving, LegacyGi ving, and enrich your community Canadian Red Cross (t):(604)-709-6646 for yearsommuni to come.ty andenr i c hyourc Canadi anRedCros (e):firoz.mahmud@redcross.ca (w):www.redcross.ca/legacy (t): (604)-709-6646 foryears to come. (e): firoz.mahmud@redcros .ca (w): www.redcros .ca/legacy For more information, contact:

Ensure inspiring, insightful, commercial-free programming continues for generations to come. Please remember British Columbia’s Knowledge Network in your will or trust. For more information contact:

Donna Robinson Phone 604.431.3136 Toll-Free 1.877.456.6988 Email plannedgiving@knowledge.ca Website knowledge.ca/legacy

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about who we are and what we do.

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For more information, contact:

Firoz Mahmud, Manager, include the Red Cross in your will Legacy Giving, and enrich your community Canadian Red Cross (t): (604)-709-6646 for years to come. (e): firoz.mahmud@redcross.ca (w): www.redcross.ca/legacy

aboutwhoweare andwhatwedo. Scan with

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At the new RMH BC, we can make a difference to more families than ever before, and we need community support more than ever in the years to come. Ronald McDonald House BC and Yukon is designed with comfort in mind, and includes spacious guest bedrooms with private washrooms, several indoor and outdoor play spaces, a fitness room, arts and crafts room and four state-of-the-art kitchens. More than just a place to stay, Ronald McDonald House BC and Yukon is a safe place for young patients and their families to heal together. Leaving a legacy gift is a meaningful way to ensure ongoing support for the children and families who depend on RMH BC. We can help you and your financial advisor to find the best option to suit your needs, address any concerns you might have, and even work with you to avoid unintended problems that impact the ability of your donation to provide the help you planned. more information By leaving a legacy for Ronald McDonald House BC and Yukon, you give strength and hope to BC and Yukon families with seriously ill children, and keep them together when it matters most. For more information about legacy giving, please contact us at 604-736-2957 or plannedgiving@rmhbc.ca.

leave a legacytm

Everyone can leave the world a better place. Will you? Vicki Raw Charitable Gift Advisor, Planned & Major Giving The Salvation Army

You don’t have to be rich and famous to make a contribution that will change lives.

November 2016

Make a Difference in the Lives that Follow

he reality is that most charitable bequests are made by ordinary, hardworking, thoughtful people who have a desire to make a positive difference in their community after they’re gone.

Whoever you are, whatever your personal or financial situation, you can do something amazing for the world by remembering your favourite charity in your Will.

Charities improve lives through the work they do, be it through providing social services, supporting arts & culture, alleviating social injustices, or by seeking to eradicate disease. Charitable legacies are not just the foundation for many good causes, they are vital for the sustainability and future growth of these organizations.

Including a charity in your Will is a significant way to bring dignity, meaning, and purpose to a life well-lived. And what better way to thank an organization that has had a direct impact on your life, the life of a family member, close friend, or colleague, than by making a gift through your estate? It doesn’t have to be a complicated process. Most charities have sample language readily available to assist you in easily creating a legacy of compassion that will be remembered well into the future. It’s recommended that you work with your professional advisor (lawyer, financial advisor, accountant, etc.) to best determine the type of gift you should leave, as each has its own tax benefits.

Including a charity in your Will is a significant way to bring dignity, meaning, and purpose to a life well-lived.

After caring for your loved ones, consider leaving a gift in support of a cause that is dear to your heart. Your bequest, no matter the size, could be the necessary seed for change! Here at The Salvation Army, we are extremely grateful to our legacy donors whose generosity enables us to continue providing essential services and compassionate care to individuals facing poverty, addiction, homelessness, abuse and other serious situations. more information Vicki Raw, Charitable Gift Advisor Planned & Major Giving The Salvation Army www.salvationarmy.ca/wills/welcome/

Estate Planning and Disposition For over 100 years Maynards has been providing assistance to executors and estates in the appraisal of fine art, antiques and jewellery. In today’s rapidly changing market, our appraisal experts use the latest strategic marketing techniques to return maximum sales value to our clients. We routinely provide evaluations for major financial institutions, law firms and trust companies to assist their clients in estate planning and disposition.

Service We Can Provide: • Advice on family division • Evaluations of personal property • Assist in organizing distribution of personal property • Organizing charitable donations • Sale to North American and International markets

Plan your giving with this much passion. For more information contact our Fine Art and Antiques Department, at (604) 675-2228 or via E-mail at antiques@maynards.com Scan with

to learn more.

At the Jewish Community Foundation, we understand that there are certain causes—whether it’s your Maynards has conducted over 1000 charitable fundraising events, and alma mater or your favourite performing healthcare, or community organization—that make your is proud supporter of the followingarts, foundations: heart truly sing. We encourage you to give according to your deepest passions. We can help you plan your giving to ensure that the charities you find most uplifting will continue to soar for many years to come. Let’s plan on it. Isn’t it time we had a conversation? Scan with

to donate and learn more.

1837 MAIN STREET, VANCOUVER, BC. V5T 3B8 • (604) 675-2228 • WWW.MAYNARDSFINEART.COM

leave a legacytm

Make a Difference in the Lives that Follow

November 2016

In Honour of a Mother’s Memory Charlene Taylor Associate Director, Gift and Estate Planning VGH & UBC Hospital Foundation

learn more

Lily Kong (Pang Chui Ling) was a beloved daughter, mother and grandmother who centred her life around her family, including three sons and six grandchildren.

he immigrated from Hong Kong to Vancouver in 1967 where she quickly embraced life in Canada. She was recognized amongst her family for her culinary skills in Chinese cuisine and for her love of travelling.

In 1997, Lily was diagnosed with Myasthenia Gravis – an autoimmune disease that causes muscle weakness due to a defect in the transmission of nerve impulses sent to muscles. Lily was under the care of neurologists at Vancouver General Hospital. Sadly, Lily passed away just shy of her 90th birthday. To honour Lily’s memory, her family decided to create a legacy by generously creating an endowment fund to recognize and celebrate their matriarch. “Our family is touched and inspired by the support and care from all the staff at Vancouver General Hospital,” said Eric Kong, one of Lily’s sons. He adds that the it was his mother’s wishes to thank her medical team and to bring awareness and help to those who are impacted by this disease. The endowment fund will help support education, clinical care and research into Myasthenia Gravis with the aim of improving outcomes for patients and their families who live with the disease. Support from donors like the Kong family ensures our hospitals and health care teams are able to treat health conditions by purchasing urgently needed equipment, funding internationally-acclaimed research, and providing education and awareness of medical conditions, treatments and possibly cures well into the future.

leavealegacyvancouver.com

Lives are Legacies When you name us in your will, you are changing people’s lives.

They never forget. www.bhfoundation.ca

Inspired by their matriarch, the Kong family created a legacy fund in her memory.

more information By leaving a bequest in your will, making a gift of life insurance or designating the Foundation as a beneficiary of your RRSP, RRIF or TFSA can help our health care teams save lives now and well into the future. To learn more about legacy giving, please visit vghfoundation.ca/legacy.

leave a legacytm

Make a Difference in the Lives that Follow

Making a Difference Dr. Ian Gardiner, Radiologist Ecojustice Canada Society Supporter

Thanks to my parents I had the privilege of visiting many of North America’s parks as a youth. It gave me an appreciation of the importance of nature and a healthy environment; we can’t survive without it.

n their daily lives people can do all the right things like recycling and composting, but that alone isn’t enough. There is a critical need for a more proactive approach, which is why I chose to support Ecojustice’s efforts to protect Canada’s environment.

WITH YOUR SUPPORT, IMAGINE WHERE WE’LL BE TOMORROW. Leave a gift to The Arthritis Society and help children and adults live without the pain of arthritis.

HERE’S WHERE WE ARE TODAY.

My approach to charitable giving is to thoroughly understand the organizations I choose to support, and consolidate my giving to maximize the contribution I can help make. This includes planned giving, where I can share in the good fortune I have had in life and make a positive impact for the future. I believe many of the problems faced by society can be solved by people stepping up and taking action.

I want to create an impact that is significant and sustainable.

– Dr. Ian Gardiner

Seeking professional advice early on in structuring my estate and getting close to the organizations I want to leave a bequest to, are essential to me in ensuring my wishes are carried out without complications. It is a worthwhile investment relative to the gift, and aligns my intent with the mission of the charity. Getting the details right leaves a focused and targeted legacy that I want for my bequest. more information For more information please contact John Keller, jkeller@ecojustice.ca.

We connect people: to communities

CONTACT LIESL DRAYTON

to brands

P: 604.714.5557 ldrayton@arthritis.ca arthritis.ca/bc

to data

ASSOCIATE DIRECTOR, DEVELOPMENT

HERE’S WHERE WE WERE.

Along with organizations working in breast cancer research and education, I decided to make a gift in my estate to Ecojustice because I want to create an impact that is significant and sustainable. The legal approach that Ecojustice takes is tangible and fosters greater understanding of the issues in the minds of government, industry, and academia. We have no choice but to accelerate the pace of change in adapting to the new environmental and climate realities.

learn more at

glaciermedia.ca

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November 2016

Make a Difference in the Lives that Follow

Forgotten Assets Lead Strategist for Legacy Giving FS Financial Strategies julia.roudakova@fsfinancial.ca

advertisers directory  burn  The

fund centre �� page 2

Salvation Army �� page 3

 BC

& Alberta Guide Dogs �� page 4

 BC

CHILDREN’S HOSPITAL �� page 5

 ROGERS

Julia Roudakova

 ST

GROUP FINANCIAL �� page 5

PAUL’S FOUNDATION �� page 6

 RONALD  VGH

MCDONALD HOUSE CHARITIES �� page 6

UBC HOSPITAL FOUNDATION �� page 7

URREY HOSPITAL & OUTPATIENT  S

As strange as it may sound, sometimes family members are unaware of assets that have been purchased by a loved one and only come across it by chance. More often, family members may have heard rumors about a life insurance policy or stocks bought in years past but don’t know the details.

CENTRE FOUNDATION �� page 9  WILDERNESS  UNITED  RICK

WAY - LOWER MAINLAND �� page 9

HANSEN FOUNDATION �� page 10

 CMHA �� page  WILDLIFE

t also happens that individuals, over the course of a life time, may have forgotten that he or she purchased a life insurance policy, having tucked it away in safety deposit box or filing cabinet. Stories of these forgotten assets are real and they happen more than you might think.

So let’s consider how this type of forgotten asset can be used in a way that is tax efficient while creating a memorable charitable legacy.

Forgotten asset are a perfect way for you to start creating your own legacy.

Take the example of an old life insurance policy that has been purchased many decades ago and is discovered after the passing of a loved one or even by an individual cleaning out their old boxes.

Most likely over a lengthy period of time that old policy has actually accumulated a cash value, which might represent a significant percentage of that policy. – Julia Roudakova While not all insurance policies have cash values, many of them, particularly older policies, do have an actual cash value that can be redeemed. But also don’t forget another important value that goes beyond money - this policy may have a real sentimental value because it was purchased by a parent, grandparent or other family member for you.

Now here is the strategy - If you donate that policy to the charity of your choice you will receive a tax credit for the amount of the cash value and the charity of your choice will benefit from a significant legacy gift.

Simple example: An Insurance policy with death benefit of $10,000 and cash surrender value of $4,800.

If you donate this policy, the charitable tax receipt will be issued for the full amount of the cash value ($4,800). You will then be eligible for a tax credit in B.C. of $2,050 and even more if you are qualified as a first-time donor or if you are in a higher income category and qualify for a super credit.

The benefits go even beyond the tax benefit - the charity will receive the $10,000 donation as an insurance gift, the estate is bypassed, so it will not get tied up in any delays or legal contests and probate fees are avoided further you get to maintain confidentiality.

Forgotten asset are a perfect way for you to start creating your own legacy - you have all of the rewards of dedicating a gift to a specific and worthwhile project, while achieving real tax savings. This is just one way as to how planned giving can give rewards on so many different levels.

COMMITTEE �� page 9

 THE

RESCUE �� page 11

NATURE TRUST OF BC �� page 13

 MAKE

A WISH �� page 14

 BCSPCA �� page  MAYNARDS

FINE ART & ANTIQUES �� page 15

 KNOWLEDGE  CANADIAN  jewish

NETWORK BC �� page 16

RED CROSS �� page 16

community foundation

of greater vancouver �� page 17  vancouver  The

foundation �� page 18

Arthritis Society �� page 19

 burnaby

hospital foundation �� page 20

 archdiocese  canadian  variety

of vancouver �� page 20

cancer society �� page 23

– the children’s charity �� page 24

leave a legacytm

Make a Difference in the Lives that Follow

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ptember 22, 2016

What is the most effective way to leave a gift to charity in your will? Senior Trust Officer Solus Trust Company Limited

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Income Taxes

GiEs to Family

GiEs to ChariGes Income Taxes GiEs to Family ve gifts in your will to your favourite charities. What is the most effective will OK, so you have decided to leave gifts in your to your favourite charities. ave a cash legacy for a specific, fixed amount or leave a share (percentage) • The estate pays more income tax as there is a smaller charitable tax credit you leave a cash legacy for What is the most effective way to do this? Should Scenario #2: Actual Estate is smaller than the family is reduced slightly The following illustrations* show what happens to your estate plan when • The gift to the a specific, fixed amount or leave a share (percentage) of the residue of your Scenario #2 beEless state alue Estate Plan and gifts Etstate o charities re ftixed ctash ing method (fixed dollar amount): show what happens Scenario 2: Aestate ctual han on he • Daepending inflation, the charitable gift could thanVwhat you intend estate? The following illustrations* to #your plan is smaller legacies Scenario #2 Estate Value Estate Plan amount): and gifts to charities are fixed cash when you choose the cash legacy giving method (fixed dollar wing the will with Scenario #2: legacies Scenario #2 Estate Value Estate Plan E• state V alue sh legacies Actual is The amount in accordance with Estate the Estate Plan Estate Value % Estate of the ePlan state at the Plan is ign ifted to csmaller harity • Estate The amount accordance with tthan he the time of drawing • The relatively Plan and Estate Plan is lgarge ifted charitable to Estate charity gift the willbalance with sonable in minimal income taxes ocharities r gifts togift • results The relatively large charitable charities, gifts tothe charities possibly u nused t ax c redits aretfixed results in minimal income axes or cash and the lthe arger gift where cash • The g ift t o t he f amily i s d rastically legacies. possibly unused tax credits legacies amount reduced • The gift to the family is • d Thrastically e amount in to approximately accordance with the reduced cute this proration 25% of the estate. Estate Plan is gifted to GiEs to ChariGes Income Taxes GiEs to Family value of the charity Plan results s The as rEstate esidual GiEs to ChariGes Income Taxes GiEs to Family *Please note that your specific assets determine the amount of tax payable by the estate and that these in a reasonable balance • Thw e ill relatively large legatees. between the impactful illustrations are intended to reflect tcharitable he wrelationship between the voalue your estate and the faixed, cash legacy. gift results note that your pecific ill determine the amount f tax opf ayable by the estate nd that these GiKs to ChariMes *Please Income Taxes GiKs to Fsamily assets gift to charities, the in minimal income taxes or possibly tax credits illustrations are intended to reflect the relationship between the alue ounused estate and the fixed, cash legacy. By choosing to leave a gift of a s hare of the residue of your evstate tf o your charity, the gift will prorate with amount of tax the • The gift to the family is drastically reduced estate pays and the larger gift to the family. the v alue o f y our e state. T he g ift w ill b e a s i mpactful a s y ou c an m ake i t, w ithout isadvantaging By choosing to leave a gift of a share of the residue of your estate to charity, the gdift will prorate ywour ith family g ift. The most effective way to execute this prorationthe of the estate, regardless value of your estate. The gift will be as impactful as you can make it, without disadvantaging your more information of the value of the estate, is to name the charities as residual beneficiaries, family gift. For more information please contact Kris Love, Klove@solustrust.com. rather than cash legatees. amount of tax payable by the estate and that these illustrations are intended to reflect the relationship between the *Please note that your specific assets will determine the value of your estate and the fixed, cash By choosing to leave a gift of a share of the residue of your estate to charity, the gift will prorate with the value of your estate. The gift will be as impactful as you can make it, without disadvantaging your family gift. legacy.

Generosity begets generosity

Founder President NightShift Street Ministries Society

ightShift Street Ministries has given me the privilege to meet many amazing people. Hans Luking is one of them. Never in my life have I met a more loving and generous man who lived life with overflowing joy and a mischievous twinkle in his eye.

Sadly, he lost his battle with cancer three years ago but not before leaving a huge impact on many lives.

Hans discovered the secret to a happy life. He was grateful and accepted the portion given to him however challenging. He realized that there was always someone else who suffered more than him.

He generously supported third-country efforts, but he also saw tremendous value in supporting the poor in our own back yard. Hans looked to NightShift for a way to give back in his own community. He saw people who were not as fortunate as him, who struggled with life’s challenges and desperately needed love and a hand-up just like all of us do from time to time.

He left behind a family legacy that supports NightShift’s vision in a tangible way and is a shining example of the transfer of wealth between generations. More specifically his ‘heart’ transfers. His family, children and grandchildren have joined our front-line serving teams many times in helping to provide food, clothing and much needed love.

Rev. MaryAnne Connor

Hans was a humble man. He was never comfortable with receiving recognition for his giving. But I believe he would want to inspire other families to make the commitment like his family has to give to the poor for generations to come. The Luking family have discovered that every hour you commit, every hug you give, every cheque you write, every act of service you make – big or small makes a difference – a shift in someone’s life. And it helps NightShift ease some of the burden of carrying out our programs and operations. Hans, with a twinkle in my eye, I doff my hat to you and your big-hearted family! Generosity does beget generosity! more information Please contact MaryAnne Connor at maryanne@nightshiftministries.org.

Change cancer forever. Leave a gift in your Will. A gift in your Will is a gift for the future. By funding research you can make a difference in peopleâ&#x20AC;&#x2122;s lives and help to eradicate cancer for our children and grandchildren. Canadian Cancer Society 565 West 10th Avenue Vancouver, BC V5Z 4J4 Rozie Kara 604-675-7346 1-800-663-2524 ext 7346 rkara@bc.cancer.ca

Charitable Registration Number: 11882 9803 RR0001

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