Planning your Legacy- Canadian Red Cross

Planning your Legacy

Where there's a Will, there's a way to

protect your family's financial future
name a guardian for your minor children
provide clear funeral and burial instructions
distribute your property and assets exactly as you wish
avoid unnecessary legal expenses and taxes
leave a lasting gift to organizations that will continue to make a difference to people and communities in the future

Why is a Will important?

	*A properly drawn, up-to-date Will is your best assurance that your estate will be handled exactly as you wish.*

Many people put off having their Will prepared. Some are uncomfortable dealing with the topic; others do not understand the importance of having a Will. As a result, more than half of Canadians die without a Will. When this happens, their estate is divided according to rigid rules established by law.

This can mean that loved ones are not cared for as you would wish, and that your personal obligations are not met.

A legal Will is the only way to ensure that your wishes are met and your estate handled as you want. It also offers guidance and peace of mind to your loved ones as they settle your affairs, and prevents uncertainty and disputes over the division of property.

How do I make a Will?

Making a Will need not be complicated or expensive, but it does require careful thought and planning. It is best to seek the advice of a lawyer, who can help make sure that your Will meets your obligations and represents your interests.

Once your Will is drawn, it is important to keep it current as circumstances change during a lifetime. Family situations are altered through marriage and divorce. Children are born, grow up and may have children of their own. Loved ones may pass away, or their financial circumstances may change. For all these reasons, you should review your Will periodically and change it as needed to ensure that it reflects your current interests and circumstances.

In preparing and maintaining your Will, you may also wish to consult a financial advisor to explore options for limiting your estate's tax liability and for planned giving.

What is “planned giving?”

Planned giving refers to the many ways of planning your charitable donations in order to optimize the benefits to both the charity and the donor. Many, though not all, planned giving options are deferred gifts made through your Will and estate. Bequests of money or property, gifts of life insurance, annuities and gifts of securities are some of the most common options in planned giving. Each has legal and financial implications that should be discussed with a professional.

It is also advisable to discuss your planned giving intentions with family members or others close to you. This can help assure your heirs that you have considered their well-being when planning your estate, and help them to clearly understand your wishes and appreciate your reasons for leaving a legacy to charity.

Finally, it is important to consult the charity to ensure they are properly named in your Will.

Why leave a bequest to the Canadian Red Cross?

After providing for family and friends, many people choose to make a lasting impression by leaving a gift to organizations and causes they believe in. This generosity builds a bridge between the past and the future, helping ensure the charities you value today will continue to make a difference tomorrow.

Since 1896, Canadians have counted on the Red Cross to help when something threatened their safety, well-being and human dignity. But the Red Cross doesn’t wait for an emergency to make a difference. We’re there before disaster strikes, offering prevention and preparedness education that saves lives and providing programs that assist the most vulnerable. Your legacy gift to the Canadian Red Cross will allow us to be there for future generations.

When you include a bequest to the Canadian Red Cross in your Will, your name will be placed on our national “Honour Roll,” and you will be invited to join our Legacy Club, which confers many benefits on its members. (If you prefer, your bequest can remain confidential.)

Your commitment to the humanitarian principles of Red Cross can last beyond your lifetime when you make a bequest to the Canadian Red Cross. Your gift can be as general or specific as you like. For example, you can designate your gift to support a specific Red Cross program or to support services in a particular geographic region.

Your generosity will build a bridge to the future, and will ensure the Red Cross is there to help future generations.

For more information, contact your local Legacy Representative.