Many people who have the vision and generosity to support young people and their future success choose to leave a charitable bequest in their Will to JA Southern Alberta. A bequest is a commitment made in your Will to distribute a specific sum of money, piece of property or portion of your estate upon your death.
The majority of charitable bequests are from people who are not wealthy and do not have much disposable income. Upon death, JA will issue a donation receipt for the bequest that can result in significant tax savings in the year of death and the preceding year. Bequests are the most common form of estate gifts to charities in Canada because they:
- Are flexible and revocable
- Are paid after you are gone
- Can lead to significant tax savings
- Are simple to set up
- Allow you, rather than the Government can decide how your estate’s “social capital” is used.
Making plans to leave charitable bequests in your Will is really about your life, not your death; it is about your interests and your passions, not your assets. It is the ultimate opportunity to express your personal values and beliefs while still providing for your loved ones.