British Columbians are a generous lot, donating $1.3 billion to registered charities in 2011 [i]. For many, that generosity extends beyond their life when they include bequests in their will.

Providing for a bequest or gift to a charity in your will can easily be accomplished as part of your estate plan.

The benefits of giving to charity through your will include:

• You have the use of your assets during your lifetime.
• A bequest is a revocable gift and can be altered at any time should your circumstances change.
• There are substantial tax benefits to your estate for donating to a charity upon death, especially given the additional tax benefits announced in the 2014 federal budget.

As in all cases, you should consult with your charity of choice, professional advisor and lawyer or notary to ensure your charitable wishes are accurately articulated in your will.

Why It Matters:

The Province is raising awareness about the importance of creating or updating a last will and testament by proclaiming March 31 through April 6, 2014, as Make-a-Will Week. Implementation of the new Wills, Estates and Succession Act (WESA) on March 31, 2014, has made it easier than ever to make a will.

Quotes:

Attorney General and Minister of Justice, Honourable Suzanne Anton -

“A bequest to charity in your will helps to ensure your legacy lives on. Giving to a registered charity after death has significant benefits for the charity receiving the gift and for those administering your estate.”

Calvin Fong, chair, Leave A Legacy, Greater Vancouver -

“As part of your estate plan, you should outline the community impact you wish to achieve through the bequest to charity in your will. Providing details about how the funds are to be spent can create a lasting legacy for years to come.”

Quick Facts:

• The new Wills, Estates and Succession Act makes estate planning simpler and easier for the general public to understand.
• Having a will allows you to set out your wishes.
• A set formula will be applied to divide your property if you don’t prepare a valid will.
• The legislation will not invalidate any wills validly made before it comes into effect.
• Some of the laws governing the interpretation of wills are changing, so individuals who already have a will may choose to have it reviewed by a professional to ensure their wishes are upheld.

Learn More at:

Make-a-Will Week launch: http://www.newsroom.gov.bc.ca/2014/04/isnt-it-about-time-to-make-a-will.html

Make-a-Will Week: www.ag.gov.bc.ca/make-a-will

Leave A Legacy: www.leavealegacy.ca/program

Canadian Association of Gift Planners: www.cagp-acpdp.org/

[i] BC Stats: British Columbians give a buck: Charitable donations http://www.bcstats.gov.bc.ca/publications/infoline/13-09-23/British_Columbians_Give_a_Buck_Charitable_Donations.aspx

Media Contacts:

Lori DeLuca
Ministry of Justice
Government Communications and Public Engagement
250 953-3196