november 2015
Scaling new heights
Ideation - Integration - Innovation Inside Donating Life Insurance – and Effective and Impactful Way to Give How to Preserve a Special Piece of Land for the Future Legacy Strategy for Everyday People Advancements in Cancer Research Buoyed by Legacy Gifts
Yo u r G u i d e to Legacies and Estate Planning
To view this publication online go to
www. leavealegacyvancouver.com
GRAND OPENI NG
!
March 18, 20 16 Main & 23r d A venue Vanco , uver, B C
BURN FUND CENTRE
The best place for burn and trauma survivors to recover. Bequest your Leave a Legacy gift to become one of the most significant contributions you can make to assist survivors physically and emotionally recover and live a full life. The $13.1 million Centre will include: • A home away from home for patients (and their families) undergoing treatment for serious burn and trauma injuries at VGH or BC Children’s Hospital • 8 fully furnished, free of charge, accommodation suites
Please Give Today. burnfund.org | 604-436-5617
Leave a Legacy tm November 2015
Scaling new heights
Ideation - Integration - Innovation
Message from Chair LEAVE A LEGACY Greater Vancouver TM
Julia Roudakova
Chair, LEAVE A LEGACY Greater Vancouver Lead Strategist for Legacy Giving at FS Financial Strategies
“We make a living by what we get, but we make a life by what we give” –Winston Churchill
With my years of experience in the financial services industry, I have come to recognize the importance and financial benefits of leaving a gift to charity. I have also learned that the motivation and passion to do something charitable often comes from reasons other than tax benefits. People want to enrich their lives and to make a difference in their community. This leads people to often support a cause or organization that they care about, to leave a legacy that reflects their values, and to hopefully inspire the next generation, to also leave a simple expression of their gratitude. That is why I think it is so valuable to incorporate philanthropy into the conversation when as an advisor we help people build their financial and estate plans. I think the best way to describe a Charitable Legacy is to say that it’s your life story as told through a wellplanned 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 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 most care about.
Message from the Co-Chairs, CAGP Greater Vancouver Area Chapter Jocelyn Anderson
Philanthropy Officer Ecojustice Canada Society
Paola Coronado Hass
Planned Giving Development Officer BC Cancer Foundation
It is with great pleasure that the Greater Vancouver Area Chapter of the Canadian Association of Gift Planners (CAGP) share with you this 16th Annual LEAVE A LEGACY™ feature publication. Who is the CAGP? We are the only organization in Canada that brings together charitable representatives and advisors in one professional association. Our goal is to inspire and educate the people involved in strategic charitable gift planning. In turn, the goal of our members is to assist individuals and families with strategic gift planning that takes values, finances and philanthropic goals into account to create a better world. This work is only made possible through the generosity and insightfulness of our clients and supporters. In these pages you will learn of powerful stories of grandfathers, mothers, stewards of the land, farmers, and business people, to name a few, who took the time and care to provide legacies to the causes closest to their hearts and in honour of people that have made an impact on their lives. You will read how they have learned from role models such as family members and advisors and in turn are now inspiring their loved ones. This publication showcases exceptional philanthropic, legal and financial advisors who bring a rich and diverse range of experience. They are here to guide you with knowledge and skill to realize your philanthropy dreams, ones which honours your values and heritage and can be an enriching and pleasurable experience for you and your family. We invite you to contact these exceptional professionals and causes and have a conversation. We welcome your feedback regarding this publication and invite you to consider your legacy for your loved ones, your community and for a better world.
Become a Member
partnership@leavealegacyvancouver.com
3
4
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
An Inspired Legacy
Jeff Weddell Photography
Donating life insurance — an efficient and impactful way to give
Ellen Schappert
Philanthropy Coordinator, Gift & Estate Planning, BC Children’s Hospital Foundation
Did you know you can help a cause you care about by donating your life insurance policy to charity? This is a great way to give generously without diminishing your savings, hurting your day-to-day finances, or depleting your estate. Just ask independent financial advisor Debra Vincent. The Victoria-based dynamo is a mother, grandmother, wife and business owner. She is also a long-time donor and volunteer for BC Children’s Hospital Foundation. Her generosity springs from the heart. Debra and her husband Doug owe the life of their son Doug Jr. to the care he
received at BC Children’s Hospital in 1982. “BC Children’s Hospital gave us our son, and for that we are eternally grateful,” she says. As a financial advisor, Debra knows how to use money efficiently. This includes the donations she makes to her favourite causes. In 2009, during an annual review of her family’s finances, Debra realized that the life insurance policy she had purchased years ago would make a wonderful gift to BC Children’s Hospital Foundation. She decided to split the future payout between the foundation and her son. When Debra discussed her idea with Doug Jr., he suggested that she give his portion of the proceeds to BC Children’s Hospital Foundation as well. “It made us extremely
proud,” she says. “We’ve always tried to teach our son that giving back to those who helped you along the way is the right thing to do. This family commitment to giving back will now be passed along to our beautiful grandchildren.” Debra doesn’t regret that she won’t be around to see the result of her legacy gift – one that is larger than anything she could have made in her lifetime. “BC Children’s looks after all of us, no matter where we live in the province,” she says. “It’s there for our children and our grandchildren, should they ever need its services.” She takes comfort in the knowledge that her gift will be used to save children’s lives in the future, much as the
generosity of an earlier generation helped save Doug Jr.’s life 33 years ago. Donating your life insurance policy to charity can be an efficient and effective way to give. Remember, it is important to discuss your plans with your family, the charity and your advisor to make sure this type of gift is right for you.
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 604.875.3679 or 1.888.663.3033. You can also email us at plannedgivinginfo@bcchf.ca or visit bcchf.ca/legacy.
W
by Howard Bernick
hen my uncle Irwin died at age 63 from a lengthy illness, complicated by multiple mini-strokes, our family wanted to ensure his legacy would benefit Canadians for generations to come. In conjunction with the Heart and Stroke Foundation, we established the Irwin Bernick Summer Medical Student Scholarship in his memory. While honouring his life in a meaningful way, we also wanted to remember him in a way that was associated with the illness he fought bravely. Irwin’s son Paul had received a scholarship from the Heart and Stroke Foundation when he was in medical school. It had an enormous impact on Paul, giving him the opportunity to learn from an experienced heart disease and stroke researcher. Given Paul's experience, a Heart and Stroke Foundation scholarship was the perfect legacy. There are many ways to leave an inspired legacy and I can’t think of a better way to celebrate a life than to include a gift to the Heart and Stroke Foundation.
Debra Vincent’s gift of life insurance will be used to save children’s lives in the future.
You can always be there for them.
Imagine a place that provides summer camps experiences for children and young adults with over fifty different chronic, life-threatening medical conditions. A place which recognizes and appreciates what makes children unique and has the ability to adapt its programs to ensure everyone regardless of disability can go horseback riding, kayaking, play music and enjoy campfires with new friends. At Zajac Ranch that’s what we do and one way you can help is to consider us with a gift in your will. Contact becs@zajac.com 604.739.0444 zajacranch.com
Leave a Legacy - 4.75” x 6.125” BW
Give a second chance at a happy life... there is no better gift you can give an animal in need. Make a donation of stock or include a gift in your will to set tails wagging! Visit us today at spca.bc.ca or contact: Yolanda Benoit ybenoit@spca.bc.ca 1.800.665.1868
Leave a Legacy tm November 2015
5
Scaling new heights
Ideation - Integration - Innovation
This past year I took the Patrick McGuire CFP, CLU, Ch.F.C would like to leave to Financial Advisor Rogers Group Financial your family and favorite trip of a lifetime to South charities. Africa. I went on a safari, The development of toured vineyards, made it an Estate Plan requires to the southernmost tip of consultation from the continent and snuck financial planners, in a few rounds of golf. In lawyers, accountants, deciding what to do on charities and your family. this holiday, I consulted In working with all of with several people before these individuals, you leaving. I chatted with will end up with a plan, friends and family who in writing, that spells out had been there before. I the causes you care for, spoke with a travel agent how your family is taken to learn about the types Pat and Brian McGuire care of and the financial of tours available. I spoke and tax benefits that implementing the with my doctor to make sure that all of Estate Plan will have. Each of these parts my immunizations were up to date. I will play a role in ensuring that your put in time and energy before leaving goals and dreams are going to be met. and it was that disciplined process that set me up for the holiday of my dreams. Much like my trip, you have the ability to adapt the plan as time goes on. It has More and more when making decisions, big or small, we are taking the several moving parts and pieces and you control how they all fit together; if at time to consult with friends, family and any point you feel a change is necessary, professionals with experience. We are a well-developed plan allows those setting out our goals and objectives in changes to occur. an effort to develop a plan that will lead If you would like to develop your us to a successful outcome. The same Estate Plan or if it is time for your is true in developing an Estate Plan. existing plan to be reviewed, speak with An Estate Plan is the groundwork laid one of your trusted advisors or charities. out to clearly define the legacy that you
Ensure your legacy endures
Be remembered.
The Importance of a Plan Include BC Children’s Hospital Foundation in your estate plans.
bcchf.ca/legacy
For more information, please contact the Gift & Estate Planning team at
You can create a lasting legacy of love for all of BC’s children.
604 875 3679
or plannedgivinginfo@bcchf.ca
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 Scan with
to learn how to leave a legacy donation & more
about who we are and what we do.
Give the Gift of the Future
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
A legacy gift to the BC Wildlife Federation allows you to contribute to a sustainable future through conservation and rehabilitation of BC’s precious fish and wildlife habitats and ecosystems.
For more details, please contact us: Patrick McGuire | 604.732.6551 | pmcguire@rogersgroup.com Brian McGuire | 604.737.6715 | bmcguire@rogersgroup.com
Help us protect, enhance and promote the wise use of the environment for present and future generations.
500-1770 W 7TH AVENUE | www.rogersgroup.com ©2015 Rogers Group Financial Advisors Ltd. | Rogers Group Investment Advisors Ltd., Member Canadian Investor Protection Fund
Leave a Legacy.indd 1
9/24/2015 3:16:17 PM
Contact us today to leave your conservation legacy! Development Coordinator 1-888-881-2293 ext. 223 dev_coordinator@bcwf.bc.ca www.bcwf.bc.ca Registered Charity # 11880 1315 RR0001
6
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
How Your Influence Can Live On Michelle Bernard
Manager of Philanthropy, United Way of the Lower Mainland
David Black has a long history of work in social justice. He is president of the Canadian Office & Professional Employees Union (COPE) 378 representing about 12,000 union members at public and private sector companies in British Columbia. David has included a gift in his will to his charity of choice: United Way of the Lower Mainland. “It gives both my wife and I comfort to know that our presence and influence will continue on after we’ve passed,” said David Black. Throughout David’s career, he has been involved with non-profits, volunteering time when he was younger and had fewer monetary assets, and donating funds as he got older and more established. “In my role with COPE 378, it has become very clear to me that the quality of our members’ lives is just as important in the workplace as it is in our communities. In order to help our members improve their lives, it’s important to help them understand the importance of giving back and what better way to do that than through a gift in their Will.” explains David. “We decided very early on that we wanted to bring up our kids in better communities. And that means supporting services in the community, specifically those supported by United Way.” When our children are a little older we plan to discuss with them our plans.
David Black and Family
Mental illness is costly. Mental health is priceless. In any given year, 1 in 5 Canadians experiences a mental health or addiction problem.
You can support people living with mental illness and/or addiction so they can lead healthy and fullfilling lives. Your support transforms lives With 14 branches in BC helping in over 100 communities, we make a difference in homes, schools, workplaces and communities—from infants to elders. We need your help to build a healthier province for all.
604-688-3234 www.cmha.bc.ca
David wants his children to understand the importance of community involvement and giving back to community. Through his work with various philanthropic organizations over the years, David has learned what a difference a gift in a Will can make. “I knew what a difference a significant estate gift could make to the charitable organizations I had been involved with. We decided that when we no longer needed our assets, we could really make a big difference by leaving a gift in our Will to the charities we supported.” David also believes that most property owners in the Lower Mainland, don’t realize what assets they have and what could happen to those assets after you and your family have passed on. “Of course people want to make sure their families are looked after first. Additionally, I would encourage people to think about even a small gift in their Will to organizations they support. Leaving a gift to a charitable organization can significantly reduce your taxes.” David and his wife both recognize how fortunate they are and want to share that with their community. When it comes time for you to prepare your will, get some advice: talk to a financial planner and a lawyer. Review and update your Will regularly. It is a living document that will change over your lifetime. Your influence can live on after you have gone and what a difference you can make to an organization that shares your values.
Leave a Legacy tm November 2015
7
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 Legacy Ad Oct 2015.indd 1
2015-10-07 8:52 PM
8
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
Good Role Models Create Lasting Legacies By Lynda Griffiths
Supporter of Ecojustice Canada Society
delivering tailored advice to fit your unique needs As one of Canada’s leading national law firms, we offer informed and innovative advice on all aspects of estate planning and charities law, including: • Wills and trusts • Gift planning • Structuring endowments, private foundations and other charities • Personal tax planning • Trusts and estates administration and litigation For more information, please contact: Sandra Enticknap senticknap@millerthomson.com 604.643.1292
Added experience. Added clarity. Added value.
Miller Thomson LLP
millerthomson.com
vancouver
calgary
edmonton
YOU HOLD YOU HOLD YOUKEY... HOLD THE YOU HOLD THE KEY... KEY... THE THE KEY... guelph
sask atoon
toronto
regina
markham
london
kitchener - waterloo
montréal
MT_CAGP Leave A Legacy Supplement Ad_v1.indd 1
I learned about giving to charities at an early age. It was part of what our family did; I thought everybody did it. The world was a different place back then, before computers and mobile devices. Every December my parents, sister and I would sit around the kitchen table to talk about which charities we would give to. Cheques were written and letters mailed. Mom and Dad explained how the charities connected to our family and the wellbeing of others. Years later, after Dad died, Mom asked my sister and me to join her as she updated her will. We talked with the accountant, a trusted advisor, and a lawyer who ensured Mom’s wishes were carefully considered
before committing her will to paper. My parents had lead a modest life and Mom was able to leave a generous legacy, including a securities portfolio, to my sister and me, other family members and friends, and the causes she cared about. I'll admit it did take some time before I wrote my own will. But I realized the importance of what my parents had taught me so many years before, and I wanted to be organized and take care of my partner Gail’s future financial needs. After giving it considerable thought, I created my own legacy to the people and causes I care about. It wasn’t difficult; I sat down with my lawyer and talked about the ways I could recognize my partner, family, friends and the charities that
matter to me, including Ecojustice Canada Society, Canada’s only national environmental law charity. At an early age, my father taught me about the value of nature. Like him, I spend time whenever I can in the forest, the mountains and on the ocean. I want to ensure that the environment is respected now and in the future. For me, making a will with charities in mind is a way to be responsible and to create change. By sharing this story, I hope to inspire others to give, like my parents inspired me, and to show that it’s not complicated to create a legacy that can help ensure your wishes for the future of our world.
9/27/2011 12:22:37 PM
Is St. Paul’s your hospital? Plan today to help St. Paul’s tomorrow
...TO ...TO ...TO INDEPENDENCE INDEPENDENCE ...TO
INDEPENDENCE INDEPENDENCE PADS has been PADS has beenplacing placinglife lifechanging changing
assistance 28 assistance dogsfor forover overlife 28years yearswith with PADS has dogs been placing changing people that are physically disabled. Your people that are physically disabled. Your assistance dogs for over 28 years with PADS has been placing life changing legacy gift can ensure that PADS’ dogs—and legacy gift can ensure that PADS’ dogs—and people that are physically disabled. Your assistance dogs for them—can over 28 years with to the staff that train continue the staff that train them—can continue to legacy gift can ensure that PADS’ dogs—and people that are they physically disabled. Your focus on what they do best, changing lives. focus on what do best, changing lives. the staff that train them—can continue to legacy gift can ensure that PADS’ dogs—and focus on whatINFO they CONTACT do best, changing lives. FOR MORE USTODAY TODAY FOR MORE CONTACTcontinue US the staff that INFO train them—can to www.pads.ca | 604.527.0556| |info@pads.ca info@pads.ca www.pads.ca 604.527.0556 focus what| INFO they do best, changing lives. FOR on MORE CONTACT US TODAY www.pads.ca |#:604.527.0556 | info@pads.ca Registered Charity #: 892252347 2347RR0001 RR0001 Registered Charity 89225
FOR MORE INFO CONTACT US TODAY www.pads.ca Registered Charity | 604.527.0556 #: 89225 2347 RR0001 | info@pads.ca
To learn more about making an estate gift to St. Paul’s, contact:
Karen Brown, LLB Manager, Planned Giving 604.806.8271 kbrown@providencehealth.bc.ca Charitable Registration No.11925 7939 RR0001
www.helpstpauls.com
Leave a Legacy tm November 2015
9
Scaling new heights
Ideation - Integration - Innovation
How you can give to charity and save taxes By Calvin Fong, Director, Donor Services, Vancouver Foundation
In this LEAVE A LEGACY supplement, you have heard from donors who, like you, give generously to make a difference in the lives of others. Some of these donors have mentioned that one of the many benefits they receive from giving to charity is a reduction in their taxes. How this works is not always easy to understand. To guide you, here are three common types of gifts and how they may help to reduce taxes. A gift in a will Currently, a gift made to a registered charity through a will results in a tax receipt that can offset income taxes in the year the donor passes away or the prior year if there are unused credits left over. Moreover, the tax credits can be applied against 100% of net income as opposed to only 75% during one’s lifetime. However, there are some significant changes coming to these rules.
Beginning in 2016, in addition to the last two years of a donor’s life, the tax credits can also be used to offset taxes owed by the donor’s estate in the year the donation is made or any earlier tax year of the estate. To qualify for the tax credit, the executor must pay the gift to the charity within three years of the donor’s passing. There are other specific requirements as well and your professional advisor can explain how these upcoming changes may affect your own estate plan. Gift of publicly-traded securities
If you have publicly-traded securities that have gone up in value since you purchased them, and you plan on giving to charity, you may want to consider donating the securities instead of writing a cheque. By donating the securities, an additional tax benefit is realized versus giving cash. If you sold the shares first to donate the cash proceeds, you would have to pay
capital gains tax on 50% of the gain. You would receive a tax receipt for the amount of the cash donated. However, if you donated the shares directly to the charity, the capital gains tax owed on the donated shares would be eliminated and you still get a tax receipt for the fair market value of the shares. The result is the same gift, but you save on the capital gains tax while still getting a tax receipt. Beneficiary designations of registered plans
Typically, couples are permitted to designate each other as beneficiaries of their spouse’s registered plans such as Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) to allow for a tax-free rollover upon death into the surviving spouse’s RRSP or RRIF. Upon the survivor’s death the registered plan is taxable in the survivor’s estate at its highest marginal tax rate.
However, since 2000 it has been possible to designate a charity as the beneficiary of a registered plan upon one’s death. The proceeds of the registered plan would then be paid out to the charity upon death with a tax receipt for the full value of the registered plan issued to your estate. The value of the tax receipt would then be available to be claimed as outlined in “A gift in a will” above, reducing your income taxes owing at death on the registered plan to likely nil. Calvin Fong is an executive member of the Estate Planning Council of Vancouver, a member of the Society of Trust and Estate Practitioners (STEP), a director of the Greater Vancouver Roundtable of the Canadian Association of Gift Planners (CAGP), and past Chair of LEAVE A LEGACY of Greater Vancouver.
Plan your giving with this much passion. At the Jewish Community Foundation, we understand that there are certain causes—whether it’s your alma mater or your favourite performing arts, healthcare, or community organization—that make your 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.
10
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
A Legacy to Nature By Robin Rivers,
Communications Manager, The Nature Trust of BC
W
hat can you do when you love a special piece of land and want to make sure its natural beauty is conserved for the future? In the case of Kenneth Sanderson of Vancouver Island (who is always known as Mr. Sanderson), you decide to give it to The Nature Trust of British Columbia. Mr. Sanderson emigrated to Canada from England in 1953 with his wife, Celia, and their two daughters. He was a teacher and after years of working and saving, the family purchased a 63 acre forested landscape in Cobble Hill with Shawnigan Creek
winding through the trees. The portions of Shawnigan Creek that flow though the property contain some of the best fish habitat in the watershed. In the early 1960’s Mr. Sanderson built a house where he and his wife raised their daughters. They cultivated some of the land, had a few cows, a huge vegetable garden and planted a small orchard of fruit trees. Today 60-70% of the property remains treed representing several rare forested plant communities. This property is located in the biogeoclimatic zone of the highest provincial conservation
concern – the Coastal Douglas-fir zone. Medical problems forced Mr. Sanderson to retire but his wife continued to support him in all his endeavours. From that time forward he would walk around his land almost every day. He particularly enjoyed the forest or “the bush” as he called it. It seemed that he came to know each tree personally. Walking the land also brought him an awareness of the variety of plants and animals. There are ravens there now, when there used to be crows. Small chipmunks have been replaced by black squirrels. There
were lady slippers for many years, then abruptly they stopped blooming, but in the last couple of years they have reappeared. At 94, he was still walking the land. When he could no longer get around, he said that “sitting in his easy chair looking out at the fields down to the creek gave him great pleasure”. He watched the birds, came to know the deer individually, and leaned out the window to yell at the black bear in the apple tree. Mr. Sanderson was worried that his daughters did not want to farm his land. He wanted to be
sure that the trees that he had watched grow would be protected. He also wanted to share the pleasure he got from walking his land so it was a natural step to decide to donate his land to conserve the indigenous forest and creek ecology. It was a long complicated process finding the right organization to donate the land. Mr. Sanderson and his family finally settled on The Nature Trust of BC. At age 96, he is in a nursing home and eager to sign the final papers, so that his land and the precious “bush” will be looked after and enjoyed in perpetuity.
Leave a Legacy tm November 2015
Scaling new heights
Ideation - Integration - Innovation
The Gift that keeps on giving... MaryAnne Connor Founder/President Nightshift Street Ministries
“It's easier to take than to give. It's nobler to give than to take. The thrill of taking lasts a day. The thrill of giving lasts a lifetime.” – Joan F. Marques
Do you give to charities that ask the most without giving much thought to giving to the causes that are important to your community or to those that have impacted you personally? Do you know where to give? Have you asked yourself what causes you are passionate about? Have you considered the poor, youth and children, women and men struggling with abuse, addictions, mental illness or homelessness in our own backyard? If we’re honest with ourselves, we all know someone who is
struggling. We bump into them in our business or some of our closest friends are crumbling. The couple next door is grieving or our family members are suffering. Perhaps you’re hurting too. So how do we help meet all the needs? Certainly not by looking the other way and ignoring they exist. They do, and we all have a part to play in helping either through our time or money. It’s been said, “We live, we pay taxes; and we die.” It’s true but what a gloomy way to look at life. So here’s an alternative to think about: you can plan now to give for the future or pay the taxman. What if our giving today could extend beyond our lifetime? There are a number of ways that planning your giving now can benefit organizations long after you leave
this world as well as reduce your personal or corporate taxes. So develop a planned giving strategy with clear objectives. 1. What are your objectives? What charities touch your heart? 2. What are your priorities? How badly do you want to meet the need? 3. What is the schedule to achieve your giving objectives? 4. What are the disciplined steps you need to take to achieve these objectives? Don’t just ask the questions. Take the steps today and call a professional who can guide you through the steps. The choice is yours! Give for the future or wait. When all is said and done - give! Remember, “The thrill of giving lasts a lifetime.”
Not All Assets Are Equal Dee Dee Sung & Doug Puffer The Planned Giving Team, Simon Fraser University
When people are planning to make a significant donation whether during life or in their wills, they should know that different assets have different tax liabilities. For instance, final income tax on registered funds is calculated based on full market value, but for non-registered funds, only the difference between market value and original cost is taxable. Consider the following situation: Mary is in her late seventies and has two grown children. Her husband, David, died a while ago and she is planning her new will. She actively supports a number of charities but she especially supports Simon Fraser University where she and David met and fell in love. Mary has already set up a modest memorial bursary fund at the University. She will have five main assets in her estate, wants to make a $500,000 bequest for the memorial fund and divide the rest equally between her two children. What should she donate? Asset Market Value Cost Tax Liability Principal Residence
$500,000
$250,000
$0
Family Vacation Home
$500,000
$250,000
$54,625
Combined RRIFs
$500,000
$250,000
$218,500
Non-Registered Stocks
$500,000
$250,000
$54,625
GIC/Cash/TBills
$300,000
$300,000
$0
Melia, Age 4, Wilms Tumor
I wish to go to Hawaii!
In Mary’s case, donating the residue of her RRIF directly to charity results in zero taxation and makes the most sense. Topping it up to $500,000 from her non-registered stocks as a donation in her will would give her estate enough of a donation tax credit to offset all the tax liability on the family vacation home and the remaining stocks. This plan makes the most of Mary’s savings, would not affect her lifestyle, guarantees very generous gifts to her children while at the same time creates a meaningful legacy at SFU. In evaluating which assets to bequeath to children and charity, the ones with the least tax liability should pass to the family while the ones with the highest tax liability make the best charitable gifts. This strategy will serve to reduce the taxes payable by Mary’s estate, which ultimately will be in favour of all her beneficiaries. Everyone’s circumstances are different. Mary’s example is an illustration only and is not intended as financial advice. Please consult with your own advisors to create the right plan for you.
LEAVE A LEGACY OF HOPE We grant wishes because wishes change lives.
MAKE-A-WISH® BC & YK 604.688.7944 www.makeawishbc.ca bcchapter@makeawish.ca
11
12
NoVEMbEr 2015 LEAVE A LEGACY TM
LEAVE A LEGACY PartnershiP List 2014-2015 TM
For more information or to become a partner visit www.leavealegacyvancouver.com
Alexander Holburn Beaudin & Lang LLP Emily Clough eclough@ahbl.ca www.ahbl.ca
Alzheimer Society of BC
Leona Desharnais LDesharnais@alzheimerbc.org www.alzheimerbc.org
BC Cancer Foundation
Alyson Meehan Murzsa legacy@bccancer.bc.ca www.bccancerfoundation.com
BC Children’s Hospital Foundation Vanessa Abaya vabaya@bcchf.ca www.bcchf.ca
BC Schizophrenia Society Foundation
Jane Duval jduval@bcss.org www.bcss.org/category/ aboutbcss/foundation
BC Wildlife Federation
Suzie MacMillan dev_coordinator@bcwf.bc.ca www.bcwf.bc.ca
BC Women's Hospital & Health Centre Foundation
James Carruthers jcarruthers@cw.bc.ca www.bcwomensfoundation.org
Big Brothers of Greater Vancouver Foundation
Valerie Lambert valerie.lambert@ bigbrothersbigsisters.ca www.bigbrothersvancouver.com
Big Sisters – BC Lower Mainland Fleur Cooper fcooper@bigsisters.bc.ca www.bigsisters.bc.ca
Boys and Girls Clubs of South Coast BC Marcie Mark mmark@bgcbc.ca www.bgcbc.ca
BC Guide Dog Services
William Thornton william.thornton@bcguidedog.com www.bcguidedog.com
Child Development Foundation of British Columbia
The Fraser Valley Estate Planning Council
Clark Wilson LLP
FS Financial Strategies Inc.
Richard Weiland rtw@cwilson.com www.cwilson.com
Julia Roudakova julia.roudakova@fsfinancial.ca www.fsfinancial.ca
Crisis Intervention & Suicide Prevention Centre of BC
Heart & Stroke Foundation
Judy Krawchuck judy@centreforchilddevelopment.ca www.centreforchilddevelopment.ca
Kyle Tiney ktiney@crisiscentre.bc.ca www.crisiscentre.bc.ca
Crossroads Hospice Society
Anna Wilczewski info@crossroadshospice.bc.ca crossroadshospice.bc.ca
British Columbia Lung Association
The Dance Centre
British Columbia Society for the Prevention of Cruelty to Animals
Decoda Literacy Solutions
Scott McDonald mcdonald@bc.lung.ca www.bc.lung.ca
Yolanda Benoit ybenoit@spca.bc.ca www.spca.bc.ca
Burnaby Hospital Foundation
Sylvia Zylla sylvia.zylla@bhfoundation.ca www.bhfoundation.ca
Canuck Place Children’s Hospice Denise Praill denise.praill@canuckplace.org www.canuckplace.org
Sheri Urquhart development@thedancecentre.ca www.thedancecentre.ca Gail Hanney ghanney@decoda.ca www.decoda.ca
Ecojustice Canada Society Jocelyn Anderson janderson@ecojustice.ca www.ecojustice.ca
Family Support Institute of BC Society
Angela Clancy aclancy@fsibc.com www.familysupportbc.com
Yolanda Benoit ybenoit@spca.bc.ca www.fvepc.com
Jane Westheuser jwestheuser@hsf.bc.ca www.heartandstroke.bc.ca
Knowledge Network Corporation Donna Robinson donnar@knowledge.ca www.knowledge.ca
L’Arche Foundation of Greater Vancouver
Sig Stark sstark@larchevancouver.org www.larchevancouver.org
Make-A-Wish Foundation of BC & Yukon
Ross Hetherington bcchapter@makeawish.ca www.makeawishbc.ca
Maple Ridge/Pitt Meadows Community Services Vicki Kipps vkipps@comservice.bc.ca www.comservice.bc.ca
Mclaren Housing Society of BC Kim Stacey kim@mclarenhousing.org www.mclarenhousing.com
A Gift to Last. Everyone has their own reason for leaving a legacy to Peace Arch Hospital. Whether it’s to ensure future generations have access to quality health care close to home or wanting to express gratitude for exceptional care, let your legacy be a gift of health for your family, and for every family in our community.
What’s your reason for giving? Hear our donor stories & learn more about planned giving at pahfoundation.ca. Simply click on ‘Ways to Give’ and ‘Legacy Giving’, or call Jim Bindon at 604.542.3184.
co me igh bours ha ve beth Ou r fri en ds an d ne su re ey en to nt wa we d an ou r fa mily healt h ca re”. contin ue to ha ve great “It will be ne fit us all to he lp Peace Arch Ho spita l.”
Watch our video
LEAVE A LEGACY TM NoVEMbEr 2015
Further information on the LEAVE A LEGACY
13
program can be obtained by visiting the LEAVE A LEGACY Greater Vancouver website at www.leavealegacyvancouver.com or by emailing info@ leavealegacyvancouver.com. Information on how your organization can become a LEAVE A LEGACY TM Greater Vancouver Partner can be obtained by emailing partnership@leavealegacyvancouver.com. TM
TM
Miller Thomson LLP
Ridge Meadows Hospital Foundation
The Kettle Society
VGH & UBC Hospital Foundation
The Nature Trust of British Columbia
Ronald McDonald House BC
The Public Guardian and Trustee
Westcoast Wills & Estates
Bryce Somerville bsomerville@trustee.bc.ca www.trustee.bc.ca
Mike Beishuizen mike@westcoastwills.com www.westcoastwills.com
NightShift Street Ministries
Royal Columbian Hospital Foundation
Trinity Western University
WRA Wildlife Rescue Association of BC
Sandra Enticknap senticknap@millerthomson.com www.millerthomson.com Deb Kennedy debkennedy@naturetrust.bc.ca www.naturetrust.bc.ca
MaryAnne Connor info@nightshiftministries.org www.nightshiftministries.org
Pacific Parkinsons Research Institute Kathryn Pearson info@pacificparkinsons.org www.pacificparkinsons.org
Pat McGuire, Rogers Group Financial Pat McGuire pmcguire@rogersgroup.com www.rogersgroup.com
Peace Arch Hospital & Community Health Foundation Stephanie Beck stephanie@pahfoundation.ca www.pahfoundation.ca
PLEA Community Services Society of BC Jenny Graham jgraham@plea.bc.ca www.plea.ca
Richmond Cares, Richmond Gives
Ed Gavsie egavsie@rcrg.org www.richmondfoundation.org
Laura Cherrille laura.cherrille@fraserhealth.ca www.rmhfoundation.com Richard Pass rpass@rmhbc.ca www.rmhbc.ca
Catherine Cornish catherine.cornish@fraserhealth.ca www.rchcares.com
The Salvation Army
Kathy Mannas Kathy_Mannas@ can.salvationarmy.org www.salvationarmy.ca
Nancy Keough nkeough@thekettle.ca www.thekettle.ca
Inga Warnock warnock@twu.ca www.twu.ca/giving
Union Gospel Mission Christiane Sim CSim@ugm.ca www.ugm.ca
Charlene Taylor charlene.taylor@vghfoundation.ca www.vghfoundation.ca
Gordon White gordon@wildliferescue.ca www.wildliferescue.ca
York House School
Priscilla Clark priscilla_clark@yorkhouse.ca www.yorkhouse.ca
Simon Fraser University
United Way of the Lower Mainland
Solus Trust Company Limited
Vancity Community Foundation
St. Paul’s Hospital Foundation
Vancouver Foundation
For further information, please contact any of the advertisers or LEAVE A LEGACYTM partners listed in the publication.
Variety - The Children’s Charity of British Columbia
This supplement is a forum for information about charitable gift planning. Neither CAGP-ACPDP National Office nor any of its Roundtables or the LEAVE A LEGACYTM program will be held liable for any claims, misrepresentations or errors made by any advertiser or in any article in this publication.
Doug Puffer dpuffer@sfu.ca www.sfu.ca
John Blackmer jblackmer@solustrust.com www.solustrust.com
Karen Brown kbrown@providencehealth.bc.ca www.helpstpauls.com
Surrey Hospital & Outpatient Centre Foundation
Yolanda Bouwman yolanda.bouwman@fraserhealth.ca championsforcare.com
Let saving lives and creating hope
BE YOUR LEGACY By including the Heart and Stroke Foundation in your estate plan, you’ll support life-saving heart disease and stroke research — and give Canadians more time to laugh, love and live!
To start planning your Legacy Gift, To start planning your Legacy Gift, call Jane Westheuser call Jane Westheuser at 1-888-473-4636 ext 8020 or visit atheartandstroke.ca/legacygiving 1-888-473-4636 ext 8020 or visit heartandstroke.ca/legacygiving
Michelle Bernard michelleb@uwlm.ca www.uwlm.ca
Jacqueline Dagg jacqueline_dagg@vancity.com www.vancity.com/vcf
Kristin Helgason KristinH@vancouverfoundation.ca www.vancouverfoundation.ca
Peter Chipman peter.chipman@variety.bc.ca www.variety.bc.ca
14
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
Advancements in Cancer Research Buoyed by Legacy Gifts Mother and daughter become cancer research advocates after each facing skin cancer
Paola Coronado Hass,
Planned Giving, BC Cancer Foundation
Claire Harcus, a former elementary school principal, is an unwavering advocate for sun safety and cancer research. She was diagnosed with skin cancer in 2001 after coming to terms with her concerns over a mark on her neck. Claire’s delay in seeking out medical attention gave the cancer time to advance, which has meant an intense treatment regime including multiple surgeries and radiation therapy to keep her going. Years later Claire’s daughter Christie Wilson noticed a suspicious looking mole on her shoulder. This time the family took immediate action to have it examined.
Within the decade that passed between mother and daughter having suspicious markings on their skin, researchers at the BC Cancer Agency had been skillfully developing a new technology to aid in the early detection of skin cancer. The Verisante Aura—a non-invasive detection tool—played a key role in confirming that Christie’s suspicious mole was in fact cancer. The early diagnosis led to a swift removal of Christie’s cancer, before it spread. Compelled by the family’s history of cancer, Claire wanted to help the BC Cancer Foundation, knowing that she and her daughter had benefitted from decades of cancer research.
She made a decision to leave a gift in her will so future generations won’t have to endure the type of treatments she has gone through on and off for over a decade. Legacy planning is very personal, and the BC Cancer Foundation recommends considering the following when thinking about including a gift to charity in your will: – What would you like your gift to accomplish? – What is the correct legal name of the charity you wish to benefit? – How can you involve family in your legacy gift planning? For Claire, the impact her gift will have is crystal clear: “I see the efforts
the researchers are putting forth and the results tell me that research is working.” Through the BC Cancer Foundation, legacy donors like Claire provide a funding life-line for breakthrough initiatives at the BC Cancer Agency where researchers are uncovering new ways to prevent, detect and cure cancers. In fact, the research group that developed the Aura, which helped in Christie’s cancer detection, is currently working on early detection technology for lung and gynecological cancers. Visit www.bccancerfoundation.com to learn more about legacy gifts and their life-saving impact.
Help create a better future for everyone touched by cancer. Discovery needs willing partners. When your client remembers the BC Cancer Foundation in their will, they’ll be supporting world-renowned research in BC that is shaping the future of cancer care. Please be sure to use the full legal name of our organization:
BC Cancer Foundation Registration Number: 11881 8434 RR0001 For more information, please contact 604.877.6040 or legacy@bccancer.bc.ca
Leave a Legacy tm November 2015
Scaling new heights
Ideation - Integration - Innovation
Maria T. Holman
Estate and Trust Lawyer Webster Hudson and Coombe LLP.
Protect Your Loved One’s Future with a Disability Trust
If you have a family member with a disability or other condition meaning they may never be self-sufficient, how do you ensure they will continue to be looked after once you are gone? One way is to create a trust for them, often known as a discretionary trust, a disability trust or “Henson” trust. The other is to ensure that the many charitable organizations which assist persons with disabilities are supported, though charitable donations, both during your life but also in your estate. A disability trust can also be created while you are alive (“Inter Vivos”), or in your will so it comes into effect upon your death. This second kind of trust is called a “testamentary trust.” Testamentary trusts have historically had a tax advantage over Inter Vivos trusts, since they have been subject to the same graduated tax rates as an individual. You may have read that a major shift in the taxation of trusts in Canada is coming January 1, 2016, and that the use of testamentary trusts to obtain the graduated tax rates will be severely curtailed. While this is generally true, there is some good news for people creating disability trusts in their wills. A person wanting to set aside money for a disabled family member will be able to create a “Qualified Disability Trust” (“QDT”) which will be exempt from the negative changes to other testamentary trusts.
The beneficiary of the disability trust must be eligible for the Federal disability tax credit in order for a trust to be a QDT. Further, the trustee of the testamentary trust must make an election, jointly with the disabled beneficiary, that the trust be treated as a QDT. The election must be made each year, and may be made for as many years as the trust exists. The rules for tax credits arising on a Charitable donation will also change, allowing more flexibility. The gift will be deemed to be made when the estate transfers the property to the charity, and the credit can be allocated both back to the deceased’s taxes or to the estate itself.
A person wanting to set aside money for a disabled family member will be able to create a “Qualified Disability Trust” (“QDT”) which will be exempt from the negative changes to other testamentary trusts. Testamentary trusts are still going to be an important way of providing for disabled family members, and the greater flexibility for charitable donations will encourage those families to support the organizations that in turn support those disabled family members.
Wildlife Rescue provides a helping hand to more than 5,000 injured and orphaned animals a year.
Contact us to find out how we can work together for wildlife.
Tel: 604 526 2747 Email: info@wildliferescue.ca www.wildliferescue.ca
Making a Difference for Wildlife
“The measure of your
life will not be in what you accumulate, but in what you give away.”
- Dr. Wayne Dyer
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. CONTACT LISA WESTERMARK DIRECTOR, DEVELOPMENT P: 604.714.5563 lwestermark@arthritis.ca www.arthritis.ca
HERE’S WHERE WE WERE.
HERE’S WHERE WE ARE TODAY.
www.GivingTuesday.ca | Tuesday, December 1st, 2015 | #GivingTuesdayCA
15
Plant your legacy today. Be forever. Find out how at vancouverfoundation.ca/give or call Kristin at 604.629.5186
A proud member of community foundations across Canada. To find a community foundation near you, visit communityfoundations.ca
Leave a Legacy tm November 2015
17
Scaling new heights
Ideation - Integration - Innovation
Scott Low is co-founder of FS Financial Strategies and MISSION OF CARE
A Legacy Strategy for Everyday People “The choices we make about our lives will determine the kind of legacy we leave” Providing practical and emotional support to individuals and their loved ones through the end-of-life and grieving journey. You do not have to do it alone. We are here to help. Burnaby Hospice Society • 4535 Kingsway, Burnaby BC V5H4T9 (604) 520-5087 • info@burnabyhospice.org • burnabyhospice.org
– Travis Smiley
What can we leave behind for the next generations? Leaving a legacy is on the minds of many Canadians, especially the baby boomers – the largest demographic in our country. As we age we ask ourselves why are we here and what difference can we make in the world. I hear this from clients and friends all the time and I have strategies that answer these questions.
Everyday people can leave a legacy Bereaved parents Greg and Karen with son Kairo and daughter Stella Marie
Many people think they have to be wealthy or have made a lot of money in order to leave a substantial legacy gift. Not so. Today one of the most effective financial vehicles to create assets that you can pass along to future generations is through a permanent or whole life insurance policy. Recently there have been many new features added to these policies that can be used to create your own legacy fund. This legacy fund can benefit your family, fund a post-secondary education for your children or grandchildren and make a bigger impact with your charitable donation.
Gratitude For investing in BC’s children with life-threatening illnesses and the families who love them.
Make a Legacy Gift to Canuck Place by calling Linda Ashton at 604.646.0611.
www.canuckplace.org
CanuckPlace
One strategy for putting money aside for this fund is to defer your property taxes. Many British Columbia residents can defer their property tax on a yearly basis. On deferred taxes the BC Government charges simple annual interest of 3% for those homeowners under the age of 55 and only 1% per year for those over 55. For example, if you are 45 years old, own your home and pay an annual property tax of $4,000 per year, here’s how this would work (based on $100,000 face amount whole life insurance policy paid for on a 20 year schedule): Monthly Insurance Premium: $217 Death Benefit at age 85: $327,058 Deferred Property Tax owing: $122,360 Legacy Fund Balance: $204,698 This represents a significant gift or donation that will have really cost you nothing yet will make an enormous difference to the causes and people you most care about.
@CanuckPlace
Financial Planning with Heart
18
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
Gifts of Private Companies and Real Estate Geoffrey W. White Law Corporation & Counsel | Clark Wilson LLP
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’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.
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 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’s current gift Helen gifts proceeds of Helen has learned that the the sale to a charity within 30 days of the sale. Again, youth centre is searching for a new permanent loca- the proposed rules have complexities, but Helen tion. One of the properties may want to keep them in that Helen has held in her mind for future planning. portfolio for many years is Entrepreneurs are a well-suited to their needs. driving force in our However, Helen cannot community. With careful afford yet to gift the full planning, they can share value of the property. their success and pass Helen can arrange a “baralong our community gain sale.” The youth centre even greater than it society will pay up to 80% was passed on to us. of the appraised value. 434 Glenwood Avenue Helen will receive a tax Kelowna, BC T: 250.712.2205 receipt for the difference F: 250.712.2208 between the amount paid gwhite@bcestatelaw.com www.bcestatelaw.com and the appraised value. 900-885 West Georgia Street The sale proceeds and the Vancouver, BC tax savings from the receipt T: 604.687.7751 F: 604.687.6314 will more than offset any gwhite@cwilson.com taxes triggered by the sale. www.cwilson.com
The Circle of Life
1113LAL
E
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.
Daniel wishes to create an ongoing endowment to fight poverty issues. Helen wishes to help a youth community centre.
It’s amazing when you think of how time flies A legacy gift will help us provide equipment to meet the complex health needs of our Elders.
To make a planned gift for Elder Care please contact: Kathleen Strath, CEO at: 604-588-0445 9650 137A Street - Surrey, BC V3T 4H9
Donate at www.kinsmenlodge.ca
TO TOCALL CALL OR OR VIEW VIEWOUR OURWEBSITE WEBSITE SCANTHIS THISAD AD WITH WITH SCAN
your
Leave a Legacy tm November 2015
19
Scaling new heights
Ideation - Integration - Innovation
True gift of a Legacy by Angela Clancy
Executive Director, Family Support Institute of BC Society
E PHOTO ABOVE: Evelyn and Erling Bjarnason on their wedding day PHOTO RIGHT: Darel Bjarnason as a baby
rling Bjarnason was referred to as a “giant of the international disability movement” in his eulogy by Al Etmanski. It was the birth of his late son, Darel, which was the catalyst for Erling and his wife Evelyn to start their enduring contribution to persons with disabilities and their families. Erling’s dream was as magnificent as Martin Luther King’s. He envisioned a society where all people with disabilities would be seen only by their character in a time when the outlook was daunting for people with disabilities to have a meaningful life. He met that challenge head on, creating from scratch what we now take for granted. Like all great leaders he was not afraid to take a position that stood out sharply from prevailing opinion. Erling worked tirelessly to implement his vision for societal transformation – to end segregation by closing the institutions for people with mental disabilities. Erling “raised over a million dollars in the late 70’s for a national campaign
which fuelled the deinstitutionalization and desegregation campaigns. … British Columbia, the first major jurisdiction in Canada to close all institutions”, is a testament “to Erling’s determination and skill.” When Evelyn Bjarnason passed away, Erling left a bequest through his will to the Family Support Institute of BC in Evelyn’s name. It was a well-planned gift that has created the “Evelyn and Bjarnason fund” that enables families from FSIBC to receive education and training that will enhance their ability to be leaders and provide supports in their home communities. In a recent article the Bjarnason family wrote for the FSIBC newsletter they stated that, “Our parents understood the power and wisdom contained in families. Although our father had many organizations to choose from to support after Mom’s death, he chose this one … to start a legacy in our mother’s name. We added Dad’s name to the fund after his death because we wholeheartedly agree with his choice. The Family Support Institute is a positive, vibrant force in the disability community. We are proud that our
parents’ legacy fund continues to be of some help to families who are learning, playing, planning, or doing whatever they need to in order to thrive.” At FSIBC, we are overwhelmed with gratitude knowing that people will continue to learn, and more will join our cause to make our world a more inclusive, loving, and diverse place to be. We are ever grateful to the Bjarnason family for teaching us about the true gift of a Legacy with lasting impact.
Providing Providing Providing Providing leadership and Providing Providing leadership and leadership andfor leadership and resources Providing Providingfor leadership and leadership and resources for resources for website: resources prostate website: website: website: leadership and Providing Providing leadership and resources for www.prostatecancerbc.ca resources for prostate prostate prostate Providing website: www.prostatecancerbc.ca www.prostatecancerbc.ca www.prostatecancerbc.ca website: Providing cancer support, phone: for leadership leadership andresources and forresources prostate prostate www.prostatecancerbc.ca cancer support, cancer support, cancer support, phone: phone: phone: www.prostatecancerbc.ca website: website: education and 604-574-4012 leadership and prostate resources for resourcesleadership for prostate support, phone: cancer support, education and education and 604-574-4012 and 604-574-4012 education andcancer 604-574-4012 phone: www.prostatecancerbc.ca www.prostatecancerbc.ca research in BC website: website: education and 604-574-4012 cancer support, prostate resources prostate cancer support, education and research in BC research in BC 604-574-4012 phone: research inwww.prostatecancerbc.ca BC phone: for www.prostatecancerbc.ca Prostate is the most resources for research inCancer BCand education 604-574-4012 education and research in BC 604-574-4012 cancer support, cancer support, website: common cancer inthe men. phone: phone: Prostate most Prostate CancerCancer is the is most Prostate Cancer is the most common inBC men.number: website: common cancercancer men. prostate common cancer in men. research in research BC Prostate Cancer isinthe most registered charity education 604-574-4012 604-574-4012 Prostate Cancer isand thein most www.prostatecancerbc.ca prostate Your planned gift to the Gardens ensures that Vancouver’s education and common cancer in men. 871057840RR0001 registered charity number: registered charity number: registered charity number: common cancer in men. research in BC research in BC Prostate Cancer isnumber: the www.prostatecancerbc.ca most Prostate Cancer is the most 871057840RR0001 871057840RR0001 871057840RR0001 registered charity cancer support, registered charity number: phone: common cancer in men. common cancer in men. green heart continues to beat for future generations. 871057840RR0001 phone: Prostate Cancer is cancer the871057840RR0001 Prostate mostregistered Cancer issupport, the most number: registered charity number: charity education and 604-574-4012 common cancer in men. common cancer in men. Learn more about 871057840RR0001 education and871057840RR0001 Learn more 604-574-4012 registered charity registered number: charity number: our about foundation more about Learn Learn more about For more information please contact:
Legacy Gifts Help Keep the Gardens Growing
researchin inBC BCevery $150 donation. with research
871057840RR0001 Receive 871057840RR0001 a free gift
VanDusen Development Director VanDusen Botanical Garden Association 604-257-8190 | fundraising@vandusen.org www.vandusengarden.org
Prostate Cancer is the most Prostate Cancer mostLearn more about common cancerisinthe men. our foundation common cancer in men.number: registered charity registered charity number: 871057840RR0001 871057840RR0001
our about foundation our more foundation our foundation Learn Learn more about our foundation our foundation Learn more about Learn more about our foundation our foundation Learn more about our foundation
Black Friday. Cyber Monday. Learn more about our foundation Learn more about our foundation
www.GivingTuesday.ca | Tuesday, December 1st, 2015 | #GivingTuesdayCA VanDusen Botanical Garden Association
20
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
Family and Philanthropy: The Rewards Connecting People with Community The little non-profit outreach program that could. • Seniors 75+ grocery programs • Youth 10-24 At risk programs • Red Cross medical short-term loans
Serving the North Shore for over 40 years.
Capilano Community Services 604.988.7115 • www.capservices.ca 600 West Queens Road • North Vancouver
HELP MAKE A DIFFERENCE WITH YOUR GIFT! By way of your will, endowment or life insurance policy you can ensure that Canadian Guide Dogs for the Blind provides visually impaired Canadians with greater mobility and independence through the use of a professionally trained guide dog.
Charitable giving can and should be a positive, engaging and impactful experience—one that aligns with your values, priorities and culture. It may also be a tool for family coherence and the propagation of family values. We live in a world of consumerism and affluence where wealth has the power to be good or destructive. By openly talking about money as a family, you can use wealth as a means for positive impact in the world, based on values, and as a way to have meaningful conversations with your children.
So how does it work? The process begins with a review of your financial situation including the identification of what you “need” for
financial independence to continue your desired lifestyle and what you “want” to pass onto your family, balancing what would be reasonable and still provide incentive for personal ambition. The difference between your assets and these “needs” and “wants” will provide a pool from which to contribute strategically and effectively to causes you think are important. The next step is for each member of the family, individually and collectively to articulate the values that shape your decisions. Your common values form the basis of a vision and mission for your philanthropy; they guide you as you create a practical and customized, flexible giving plan that meets your particular needs, aligns with your
goals and helps you decisions that have an create the kind of change important impact on the you want to see in the world, your family and world. the causes that align best Next, as a family, you with your objectives. will itemize and prioritize Giving well and with your areas of interest and purpose does not just determine your criteria happen - it requires the for making gifts. You may commitment to develop also want to consider and implement articuhow family members lated values, a clear vision may involve themselves, and mission, a practical beyond the financial con- plan and defined outtribution, in the causes comes. Working on this that are important to together as a family will them. Additionally, it will not only have a positive be critical to work with effect on the world, recipient organizations to it will also provide a ensure that they are aware profound and rewarding of your expectations family experience. and are committed to regularly updating you on their progress. From Janice Loomer Margolis is a Philanthropy Advisor who this you may monitor uses her unique combination of and evaluate the impact fundraising, organization leadership of your philanthropy. and facilitation expertise to work with individuals, couples and families to Your personalized develop a plan to make their giving framework for charitable meaningful, satisfying and effective. giving will allow you to www.jlmphilanthropy.com easily make thoughtful
Because all pets deserve to be healthy
4120 Rideau Valley Dr. N. P.O. Box 280 Manotick, ON K4M 1A3
613-692-7777
info@guidedogs.ca
604.396.9297
www.guidedogs.ca
info@pawsforhope.org pawsforhope.org
Lives are Legacies When you name us in your will, you are changing people’s lives.
They never forget.
Help Help a Secure Secure Wild a Wild Future! Future! We areWe Canada’s are Canada’s largestlargest membership-based membership-based wilderness wilderness preservation preservation organization, organization, dedicated dedicated to protecting to protecting our our country’s country’s wildlife wildlife and wild andlands wild lands for more for than more30 than years. 30 years.
www.bhfoundation.ca
Ensure inspiring, commercial-free, educational programming continues for generations to come. Please remember Knowledge Network in your will or trusts.
WILDERNESS WILDERNESS C O M CMOI M T M T EI E T T E E
WildernessCommittee.org/legacy WildernessCommittee.org/legacy Toll free Toll 1-800-661-9453 free 1-800-661-9453 By remembering By remembering us in your us inwill your and willestate and estate planning, planning, you will you will 604-683-8220 604-683-8220 be leaving be leaving a legacy a legacy of wildofnature wild nature for generations for generations to come. to come. plan@wildernesscommittee.org plan@wildernesscommittee.org 46 East 6th Ave, Vancouver
For more information contact: Donna Robinson 604.431.3136 Toll-Free: 1.877.456.6988 plannedgiving@knowledge.ca knowledge.ca/partners
Leave a Legacy tm November 2015
21
Scaling new heights
Ideation - Integration - Innovation
Helen’s Dream of Helping Those With Severe Mental Illness Lives On By Jessica Vestergaard Administrative Coordinator The BC Schizophrenia Society
Helen Holyk lived in Kelowna with her husband Walter and was a very devoted advocate for individuals and families living with schizophrenia. While serving as the president of the Canadian Mental Health Association (CMHA), she realized that many relatives of people with schizophrenia had nowhere to turn for aid or information. Schizophrenia is a devastating brain disease that touches the lives of 1 in 100, more than 40,000 British Columbians, and approximately 290,000 people in Canada. The disease
affects the brain and confuses the senses, making it very difficult for the individual to tell what is real from what is not real. Early diagnosis and modern treatment can make a big difference to how well a person with the illness does over time. However, lack of education, stigma and underfunding block pathways to treatment and cause devastating consequences for those affected. Mrs. Holyk took action by founding the BC Schizophrenia Society’s Kelowna Branch. She created many vital programs and services for people living with mental illness. She helped develop support programs for friends and family members, education courses for caregivers and the community, and a place to access a wealth of information
which had never been available before. The BCSS became a pillar of hope in the Kelowna community. Mr. and Mrs. Holyk had a daughter who suffered from depression and two sons with schizophrenia. They always aspired to improve the lives of their children and the lives of many others suffering with mental illness. Together they made several financial contributions to schizophrenia research over many years. As a result of her unwavering devotion to helping others, Helen was flown to Ottawa and awarded a Governor General’s Caring Canadian Medal. In 2012 Helen passed away, and today she continues to make a difference in the lives of families through her legacy.
Helen Holyk
The BC Schizophrenia Society Foundation has received over $100,000 towards schizophrenia research from the estate of Helen Holyk. Since 2012, this gift has been funding the work of several researchers who have made tremendous strides in schizophrenia research and fulfilling Helen Holyk’s intended purpose, to improve the lives of those suffering with mental illness.
Become a Member
partnership@leavealegacyvancouver.com
&
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. to learn more.
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:
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
22
November 2015 Leave a Legacy tm
Scaling new heights
Ideation - Integration - Innovation
Advertisers Directory Alzheimer BC ..................................................................................................................... 6 Arthritis Society .............................................................................................................15 BC Cancer .........................................................................................................................14 BC Childrens Hospital .................................................................................................... 5 BC Professional Firefighters Burn F ........................................................................... 2 BCSPCA ............................................................................................................................... 4 BCWF .................................................................................................................................... 5 BC Womens Hospital ....................................................................................................23 Burnaby Hospice Society ............................................................................................17 Burnaby Hospital Foundation ...................................................................................20 Capilano Community Services .................................................................................20 Canadian Guide Dogs ..................................................................................................20 Canadian Red Cross ........................................................................................................ 5 Canuck Place ...................................................................................................................17 CMHA ................................................................................................................................... 6 Heart and Stroke ............................................................................................................13 Jewish Community Foundation ................................................................................. 9 Kinsmen Lodge ..............................................................................................................18 Knowledge Network ....................................................................................................20 Make a Wish .....................................................................................................................11 Maynards ..........................................................................................................................21 Memorial Society ...........................................................................................................20 Miller Thomson ................................................................................................................ 8 Nature Trust BC ................................................................................................................. 9 Oxfam ................................................................................................................................17 PADS Pacific Assistance Dogs ..................................................................................... 8 Paws for Hope..................................................................................................................20 Peace Arch Hospital Foundation .............................................................................12 Prostate Cancer ..............................................................................................................19 Rogers Group /McGuire Financial ............................................................................. 5 Ronald McDonald House ............................................................................................13 Salvation Army ...............................................................................................................18 St. Pauls Hospital Foundation ..................................................................................... 8 United Way of Lower Mainland ................................................................................12 Vancouver Public Library ............................................................................................20 Van Dusen ........................................................................................................................19 Variety Childrens Charity ............................................................................................24 Vancouver Foundation ................................................................................................16 VGH Foundation ............................................................................................................10 Wilderness Committee ................................................................................................20 Wildlife Rescue ...............................................................................................................15 Zajac Ranch ....................................................................................................................... 4
Giving Tuesday is a National Giving Day Most people know about Black Friday and Cyber Monday …now GivingTuesday is coming to Canada on December 1, 2015. It is a new Canadian movement for giving and volunteering, taking place each year after Cyber Monday. The “Opening day of the giving season,” it is a day where charities, companies and individuals join together to share commitments, rally for favourite causes and think about others.
“We have two days that are good for the economy. Now we have a day that is good for the community too.” GivingTuesday Partners are charities, social enterprises, companies, brands, community groups, schools – any organization that is committed to helping Canadian charities or non-profits. GivingTuesday was started in Canada by a group of founding partners dedicated to helping Canadian charities and nonprofits succeed. For more information visit GivingTuesday.ca and Become a Partner now or contact@givingtuesday.ca
www.GivingTuesday.ca | Tuesday, December 1st, 2015 | #GivingTuesdayCA
Life insurance can increase the impact of your donations By Sean Oliver, Division Director,
Investors Group Financial Services Inc., Volunteer Chair, The Investors Group Walk for Alzheimers.
You may be someone who gives regularly to charitable organizations that are meaningful to you and your family. You may wish you could do more, and have a more significant impact for the charity. Is there a way to increase the financial impact of the dollars you already give? The good news is that there is, using a tool you already know about: life insurance. At its simplest, life insurance is built to multiply the impact of your deposits. You pay a regular ‘premium’, and the insurance company will pay out a ‘death benefit’ when you die. This lump sum amount can be many times the amount you pay in premiums, and goes to whomever you chose –the ‘beneficiary’. The easiest way to use life insurance to support a charity is to make them the beneficiary of a policy. The charity will receive the death benefit, and your estate gains a donation receipt that can offset taxes. You continue to own the policy and can make changes to it, but the premiums you pay are not considered charitable donations.
If you want your premiums to count as charitable donations instead, you can make the charity the owner and the beneficiary of the policy. Some types of life insurance not only have a death benefit, but also collect a ‘cash value’ inside of the policy. When you gift an existing policy, you will get a donation receipt equal to that professionally calculated fair market value. As well, you will continue to receive donation receipts for the premiums you pay in the future. It will not create a donation receipt for your estate –you get the tax benefit during your lifetime. You may already be contributing to your favourite charity on a monthly basis. If you are looking for a way to increase the impact of the dollars you are already giving why not consider making this gift as a premium payment? The Alzheimer Society of B.C. has been the grateful recipient of many gifts of life insurance and encourages you to speak with your financial planner about this and other ideas to increase the impact of your donations now and in the future.
SPONSORED CONTENT
An Alignment of Heart CHOICE OF CHARITY A REFLECTION OF VALUES AND HELP FOR OTHERS
Michelle’s legacy will help save and change lives permanently, for generations to come.
By JAMES CARRUTHERS
Preparing for the future
SENIOR DIRECTOR OF DEVELOPMENT BC WOMEN’S HOSPITAL FOUNDATION
Your legacy is a reflection of your values – the right charity helps your legacy reflect those values in a meaningful way. Beyond that it’s just technical. Many financial tools can be used. You should feel confident that the charity you choose can treat your estate gift with the best possible advantage. For 90% of bequests it’s simple. The most important thing is an alignment of the heart.
Michelle’s story Michelle’s story began with the loss of two babies during pregnancy. Her family doctor referred her to the Recurrent Pregnancy Loss Clinic at BC Women’s Hospital. Fortunately for Michelle the treatment worked. Now she has not just one child but two! A boy and a girl. “Our kids are everything. We can’t imagine life
without them. Our world totally changed. It feels like somehow our hearts got bigger,” explains Michelle. Without the expertise that identified her issue; without the research that found the right treatment; Michelle wouldn’t be the proud parent she is today. Michelle’s experience moved her and her husband, Giles, to honour BC Women’s with a bequest in their Will. They felt they had to give back to the hospital that gave them so much. “How could we not?” she asks, “It just seemed right to make a personal, significant gift to BC Women’s.”
Just a short time spent talking to your solicitor and sorting out your affairs now could prevent uncertainty for those left behind. It will also mean that you, not the government, will decide what happens to your property. If you should die without making a Will (in legal terms this is called dying intestate), the law will determine how your property (estate) is divided. This can cause uncertainty and distress. If, however, you make a Will, you’ll know your loved ones will see your wishes carried out, bringing some comfort during a difficult time. And by leaving a donation in your Will, you, like Michelle, will be helping for generations to come. For more about how you can support the health needs of women and babies, contact James Carruthers, Senior Director of Development, at 604-875-2798 www.bcwomensfoundation.org
Leave a Legacy tm November 2015
The difference you make could be life itself. Leaving a gift in your Will helps thousands of women and newborns each year. With a legacy to BC Women’s Hospital Foundation you transform the lives of others for generations to come.
To make a donation or learn more:
bcwomensfoundation.org James Carruthers 604.875.2798
CLIENT: BC Women’s
INKS: CMYK
23
50 YEARS 1966 - 2016
Leave a gift in your Will to Variety - The Children’s Charity and ensure there is support for children like Nathan. Caring for a child with special needs isn’t something parents prepare. We have the opportunity to step in where health care ends to ensure there is direct help available. Together, we can be there. Contact us to find out how to help. Peter Chipman bba, cfre - Director, Legacy Giving & Major Gifts Toll free: 604.310.KIDS (5437) Email: peter.chipman@variety.bc.ca variety.bc.ca