Leave a Legacy
Over 1.5 million Canadians have already chosen to support causes close to their heart by leaving a gift in their will.
Each and every one of them has their own individual reasons – but some of the most common are:
- To 'pay back' for support and services received.
- To prevent others from experiencing food insecurity.
- To leave the world a better place.
- To extend their generosity beyond immediate family and friends.
- To fulfill a spiritual or religious obligation to be helpful to others to the greatest possible degree.
It’s a common misconception that only the exceptionally wealthy leave money to their favourite cause when they die, but this couldn’t be any further from the truth, legacy gifts are the lasting foundation for many of Canada’s non-profit organizations.
The time couldn’t be better to have your legacy make a lasting impact in the reduction of hunger in Canada.
Almost 800,000 Canadians are accessing food banks each month – 40% of children.
Through a planned gift to Food Banks Canada, you can leave your own mark on the world by helping us create a Canada where no one goes hungry.
How You Can Build Your Legacy
Your legacy can take many forms. A gift in your Will is a simple and thoughtful way to reflect your commitment to reducing hunger in Canada.
Why leave a bequest?
- a Will is the easiest and most effective means to ensure that you fully provide for your family and that your assets are distributed according to your wishes
- other than the cost of preparing your Will, there is no additional cost for you to make a generous gift
- a bequest provides the comfort of knowing your assets are still available for you today if needed
- a gift in your Will allows you to make a tax-effective gift, often eliminating the taxable impact on your beneficiaries
Everyone has their own motivations for leaving a gift to charity in a will. Leaving a bequest is a way to reflect what you value and will ensure that your final wishes become a reality.
Together, we can work to create a Canada where no one goes hungry.
How to Leave a Gift in Your Will
There are a number of ways to leave a bequest
- give a percentage bequest – this option leaves a percentage of your estate to Food Banks Canada and makes sure that loved ones and outstanding expenses have been taken care of
- leave a specific dollar amount
- provide for the needs of your loved ones (either through an outright gift or subject to a trust) and give the remaining balance of your estate to Food Banks Canada
To leave a portion of your estate to reduce hunger in Canada, the following wording can be used:
"I direct my trustees to transfer ____ percent (or share) of the residue of my estate to Food Banks Canada to be used for its general purposes."
Include these clauses when you wish to leave a specific amount or asset:
"I direct my trustees to transfer the sum of $ ____ to Food Banks Canada for its general purposes."
"I direct my trustees to transfer (identify the personal property to be given, e.g. 500 shares of XYZ stock) to Food Banks Canada for its general purposes."
You can make a bequest to the specific area of work you are most passionate about, such as research, prevention or support programs that help our network across the country.
"I direct my trustees to transfer the sum of $____ (or ____ percentage share of my estate) to Food Banks Canada to be used for the following purpose(s) _________. In the event that circumstances make the specific use of this gift no longer practical or desirable, the Board of Directors of Food Banks Canada is hereby authorized to make changes in its use consonant with the spirit and general intent of the gift."
We suggest you work with your financial advisor and lawyer who can help to plan a bequest that best fits with your financial and estate situation. To avoid any misunderstandings with your estate, when drafting your bequest, please use our full legal name and address: Food Banks Canada, 2150 Lake Shore Boulevard West, Toronto, Ontario M8V 1A3
Although leaving a bequest in your Will is the most common planned gift made, there are a number of other ways that you can build your legacy with Food Banks Canada.
Talk to Breanna about arranging leaving your legacy to Food Banks Canada by calling 1-877-535-0958 x237 or by e-mail at firstname.lastname@example.org
The information provided is general in nature and not intended to be a substitute for professional legal or financial advice. Food Banks Canada encourages all planned gift donors to seek independent legal and/or financial planning advice.