In Canada, the month of May is Leave a Legacy Month. This is an annual national public awareness program designed to encourage people to leave a gift through their will or any other gift-planning instrument to a charity or non-profit organization of their choice. Canadians are living in a time when an unprecedented amount of wealth is being transferred from one generation to the next. But without a will, people lose the ability to control distribution of their estate to their chosen beneficiaries. Mike and MaryAnn* were such a couple. Here’s their story.
Mike and MaryAnn were a couple in their 40s who had worked hard and had the financial security that allowed them to live pretty well. Writing a will had not been a high priority for Mike and MaryAnn as they did not have children and so had never considered the issue of inheritance. Knowing that if one of them died the other would inherit the assets was comfort enough for them. But when one of their favourite charities suggested they meet with a representative from ADVISORS with Purpose to consider how their growing assets could take on more meaning now and after their deaths, they responded.
Through the process of estate planning, Mike and MaryAnn learned that had they died without a will in place, someone would have had to make decisions and that a substantial amount of their estate would have gone to the government in taxes. With the counsel they received from the estate specialist, Mike and MaryAnn made some important decisions that not only effectively wrote the government out of their will but would generate substantial charitable gifts for the work of some of their favourite charities ensuring their long term sustainability. This brought new meaning to their money.
Through our partnership with ADVISORS with Purpose, we are pleased to offer you a confidential review of your will and estate. Call today and speak to one of their qualified specialists.
ADVISORS with Purpose
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