Using a charitable giving solution such as a donor directed endowment fund as part of your estate plan will create a significant philanthropic legacy with minimal impact on the financial inheritance available to your family. The tax dollars you save can be used to build your charitable legacy.
The purpose of the Legacy Calculator is to demonstrate how supporting the causes you care most about can reduce or even eliminate taxes owing at time of death. Before you begin, you will need to know:
Planning the details of your charitable gift ahead of time, just as you would any other financial commitment, will help to ensure the best possible results. At present, Canada Revenue Agency requires that provisions for charitable donations be explicitly stated in the donor’s will in order to generate charitable donation tax credits.