Is it easy to leave a gift to JA in my Will?
Yes, bequests are an easy and simple way to leave a gift to JA. Gifts through your Will can be convenient, flexible and revocable should your circumstances require a change to your estate plans. You simply provide sample Will wording to your lawyer who will incorporate a clause into your Will that meets your wishes. If you have already drafted a Will, your lawyer can add a charity as a beneficiary through a simple amendment called a Codicil. You are not required to draft a new Will. In the event you need to revoke the Codicil at a future date you can do so.
Are there tax savings associated with my gift?
Yes, including a charitable gift in your Will can lead to significant tax savings. Careful planning will ensure that you will save tax when you need the tax relief the most: while alive or upon your death. Tax savings may be greater on your final tax return because the tax credit for bequests is higher than the tax credit for lifetime gifts. Donations through your Will are eligible for a charitable donation credit of 100% in the year of death plus any unused tax credits can be carried back one year. The tax advantages are substantial, especially on appreciated securities and properties. The total income and capital gains tax savings and the probate expense savings can come close to the amount transferred.
Can I decide on how my gift is used?
Yes, you can decide if you want your gift to go to “greatest need” or to a particular program or project at JA Southern Alberta. Without designating a charity as a beneficiary of your will, a portion of your estate will be used to pay taxes to the Canada Revenue Agency (CRA), and the Government will decide how your money is used.
Can a Will help avoid hardship to my loved ones?
Yes, an up-to-date Will is perhaps the most important tool in ensuring that your property is distributed according to your wishes and still provide for your family. Provincial legislation determines who will receive your estate assets and in what proportion upon your death if you die intestate (without a Will. The distribution scheme set out in the legislation may cause hardship to your loved ones.
Will my lifestyle change once I make this gift in my Will?
No, with proper planning you can support JA Southern Alberta and not impact your lifestyle, cash flow or family security. We understand that family comes first, and you may need to plan for unforeseen expenses. You can plan a gift that will take effect only when your other obligations cease.
Can I choose to enjoy recognition now or remain anonymous?
Yes, you can choose to receive recognition or remain anonymous at any time. JA Southern Alberta’s Legacy Giving Donor Recognition Program was designed to recognize generous donors who have made a gift to JA Southern Alberta in their Will or through another gift arrangement. In celebration of your commitment to supporting the future of young people, we will recognize your gift in special ways, including mention in our publications and invitations to appreciation events. Hearing about new planned gifts often inspires and motivates other donors to make similar investments. Please contact us if you would like to notify us of your intention to make a gift.
We understand that the decision to leave a gift in your Will, or via another gift arrangement can be a very private decision. Should you choose to remain anonymous and wish to receive no public acknowledgement, we respect your wishes.
What do you want your Legacy to be? What do you care deeply about?
Often the most significant benefit to making a planned gift is the ability to create your very own meaningful legacy. You can have personal satisfaction in knowing you are making a significant difference in the lives of others. You can leave a gift for the charities and causes that made a difference in your life. What do you care deeply about? What is your passion? What do you want the world to know about you? What did you live for? You can create a lasting legacy and articulate what is most meaningful to you by helping future generations of young people fulfill their dreams.