Share Your Legacy with a Charity Child
Chief Development Officer
BC Women’s Hospital Foundation
To acknowledge what it is to leave a legacy seems only fitting in this month in which we also celebrate motherhood. However, you don’t need to be a parent to transfer your gifts from one generation to another. You can nurture a legacy in the form of a Charity Child, by allocating a share of your estate to a charity just like you would to your children or heirs.
Is there a cause that matters to you? Have you nurtured an organization with your annual donations? If so, the concept of including a gift for your Charity Child (or Children) in your estate planning, along with other relatives you may wish to remember in your will, makes perfect sense.
Understanding that the system is designed so that a portion of your assets is destined to be distributed to the public coffers is the start. This happens either through taxation and reallocation by government or by charitable donations that reflect your values and offset tax liabilities. Do you like having someone else spend your money, or do you prefer to choose where it goes?
While many worry that a Charity Child will take away from other loved ones, that does not have to be the case. The Charity Child can receive a portion that is greater or less than the others, and, if desired, the portions can be adjusted when the will is updated.
Even if you do not have a complete idea of what you want to do, beginning a conversation with a trusted financial advisor or charity will get you started on assembling the needed information. With intention and strategies structured for your unique situation, you can nurture a very special connection to your Charity Child.
Our world is enriched through generosity given from one to another, and the relationship between mother and child is clearly unlike any other. Choosing to include a Charity Child or Children in your estate is a significant step toward controlling how your assets are utilized to influence our world. Regardless of biology, nurturing a special relationship with a Charity Child is possible for everyone, and doing so can have positively lifealtering impacts for both parties. Isn’t that what leaving a legacy is all about?