Gift of Legacy

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Noori Gill, a 35-year-old supporter of Plan International Canada’s Because I Am A Girl program, believes in giving back to the community. They are also a Plan Canada legacy donor who first learned about leaving charity gifts in their will through our partner Willfora – but their first thought was, “I don’t have a will.”

“I thought, if I have assets that are enough to make a difference, then [I should have a will],” says Gill, who is from Edmonton. “Everyone should have a will. It was a very easy template. I put some friends at the top of that list so they know what I want, where I would put my money. I put Plan in for a certain percentage of my assets. If I’ve got, say, $30,000 in the bank, then some of it is going to a good cause, and some will go toward helping my friends pay off their house.”

Adam Graham, director of program quality and effectiveness at Plan International Canada, also has named Plan in his will. “If you have sufficient resources and the ability to redistribute wealth, then you should,” explains Graham, 48. “Legacy giving is a practical and pragmatic way to offer solidarity to a cause that you really believe in.”

Graham has seen first-hand how health care is unevenly distributed and often inaccessible, especially in community-based settings, and that helped shaped his decision. He had known about legacy giving for more than a decade before deciding to participate in his mid-40s.

“I was thinking, what am I going to do with my RRSPs and insurances?” he recalls. “A lot of us give to charities because we see the benefit on a day-to-day basis. We might give $10 or $20 a month, or a one-time gift, but we don’t often think about what we could do with a larger amount.”

But there is even more opportunity to do good through your will.

“A legacy gift … is when we begin to think about the broader context,” says Graham. “For example, the difference between donating to provide a free HIV test to someone versus opening a health centre – that’s the difference in scale. The emotional attachment to legacy giving, I think, is about the scale and the scope of that gift … that larger act of solidarity with the cause.”

For Noori, charity extends beyond their community, “I try to do things in my local community,” they say, “but it’s nice to be able to reach across the world and help people in another area that I might not otherwise be able to.”

Bernadette Knight’s belief in caring began at a very young age, when she agreed to be the guardian to her adopted brother, Terry.

Now the 76-year-old retiree from Toronto is both a long-time child sponsor and a legacy donor with Plan Canada. After retiring from a career in the insurance industry, she also starting volunteering with Plan, monitoring letters between donors and their sponsored children until 2020.

Her dedication to helping children stems from her personal experience in helping care for Terry, whom her family fostered from the time he was 15 weeks old and later adopted. Terry had medical complications as a baby and underwent more than 45 surgeries. Through these challenging times and by spending so much time in hospitals, Knight “saw the resilience of young children. It made me realize I shouldn’t be bothered by little things,” she says.

Now that commitment to supporting children will extend beyond her lifetime. Knight has willed her estate to her brother Terry, with some funds also directed to Plan Canada. “With everything happening in the world, I’ve come to see how even a little can make a big difference,” she shares. “And we really need to help. Otherwise, what’s life about?”

What is a legacy gift?

A legacy gift (or “planned gift”) is a bequest to a charity in your will – and it’s a powerful way to help shape the future you envision. While most people’s primary focus is on supporting their family through a will, it’s also an opportunity to create a personal legacy that speaks to your values for generations to come.

According to the Canadian Association of Gift Planners, 22% of Canadians have considered or are considering leaving a charitable donation in their will. This growing interest may stem in part from today’s uncertainties worldwide that are impacting the rights and the quality of life of women and children.

“One of the things I find most beautiful about legacy giving is that it really is possible for people to make a big impact,” writes Aimée Lindenberger, author of How to Talk About Legacy Giving. “Most people cannot make a five- or six-figure gift during their lifetime, but legacy giving is possible for anyone with assets.”

How to leave a legacy gift

• Include a charity in your will
• Designate a life insurance policy
• Donate stocks or securities
• Direct retirement savings plans

“A lot of people give during their lifetime, but they also need funds to support their personal needs and family,” explains Jo-Anne Ryan, vice president of philanthropic advisory services at TD Wealth. “For these donors, [legacy giving] offers an opportunity to leave a larger amount of money to a charity of their choice. A legacy gift is a last statement – an opportunity to leave a very impactful gift to causes that they care about.”

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When I talk to our supporters, I feel their passion for improving girls’ lives. They know that investing in girls doesn’t just change their lives – it helps their communities, too.”

— Quinn Bingham, vice president of philanthropy with Plan International Canada

The power of a legacy gift

• A gift of $64,000 helped educate 75,000 children in 300 villages across Mali, build 279 classrooms and 30 preschools, and train 1,400+ teachers.
• A gift of $8,000 will fund 56 boreholes in Benin, providing hundreds of children with clean water.
• A gift of $35,000 fed 4,400 children in 27 schools in Malawi, ensuring they all had access to regular meals.

The tax benefits of charitable giving

“Canada has one of the most generous tax systems in the world when it comes to giving to charity,” says Quinn Bingham, vice president of philanthropy with Plan International Canada. For example, Canada doesn’t have a “gift tax.” That means if you choose to leave a gift in your will, it won’t be taxed and will go straight to the cause you care about. For those who are donating investments or property that have grown in value, there's another advantage: Instead of paying capital gains tax (as you would if you had sold those assets), donating them helps you avoid that tax altogether. It’s a powerful way to give back and make the most of what you’ve built.

Tax benefits: Donating RRSPs and stocks can reduce capital gains tax, while a life insurance policy allows a small premium today to become a significant future gift. Even donating a small percentage of your estate can lower your estate taxes while making a lasting impact.

TD Wealth’s Ryan agrees that tax benefits are helpful but says they’re not the number-one motivation. “There’s a much stronger reason than tax receipts,” she suggests. “A legacy gift is your last statement of what was important to you. It makes people feel good to continue their charitable legacy and support causes they’re passionate about beyond their lifetime. It’s the kind of gift that keeps on giving, continuing to make an impact after you’re gone.”

She adds that legacy giving is more popular now than ever. “Twenty years ago, people would say, ‘I’m leaving everything to my children.’ Now, they’re saying, ‘My children aren’t getting it all.’ ... Leaving a legacy gift doesn’t mean disinheriting your kids. There’s a way to divide and conquer – supporting both the people who matter to you and the causes you care about.”