Planned Giving

Sample clauses are provided below to assist you in preparing a Will. In preparing your Will, you may want to seek advice from your lawyer, tax adviser, and/or financial planner. These sample clauses do not provide a substitute for professional advice and counsel.

General Bequests

Legacies that come from the general value of one’s estate and are made by designating a specific cash amount, particular asset or a percentage of one’s estate to Big Brothers Big Sisters of Guelph.

Sample bequest wording:
“To Big Brothers Big Sisters of Orillia & District, I give the sum of $____________ (or ___specific asset____, or _____ percentage or the residue of my estate ) to be used for the purposes of Big Brothers Big Sisters of Orillia & District (Suite 102 – 17 Colborne Street E Orillia ON Canada L3V 1T4), as the organization’s Board of Directors may determine from time to time.”

Specific Bequests

Legacies which specify the purpose for which a particular item or property is to be used. (i.e., program development, purchase resources, support the work of specific initiative at Big Brothers Big Sisters of Orillia & District).

Sample bequest wording:
“To Big Brothers Big Sisters of Orillia & District, I give the sum of $____________ (or ___specific asset____, or _____ percentage or the residue of my estate) to be used specifically for (specify purpose, program or department) of Big Brothers Big Sisters of  Orillia & District, Suite 102 – 17 Colborne Street E Orillia ON Canada L3V 1T4.”

Residual Bequests

Made when you intend to leave the residue portion (any leftover property) of your assets after other terms of the will have been satisfied.

Sample bequest wording: “To Big Brothers Big Sisters of Orillia & District I leave the whole (or a percentage) of the residue of my estate to be used (for or by) (specify purpose, program or initiative) of Big Brothers Big Sisters of Orillia & District, Suite 102 – 17 Colborne Street E Orillia ON Canada L3V 1T4”

Contingency Bequests

Allow you to leave a portion of your estate to Big Brothers Big Sisters of Orillia & District if your named beneficiary does not survive you. The following sample clause in your Will can provide for a contingent bequest to Big Brothers Big Sisters of Orillia & District in the event another beneficiary entitled to a share or to the residue of your Estate predeceases you. “If any of the beneficiaries named in this Will should die before becoming entitled to receive their distributive share of my estate, I give or transfer to Big Brothers Big Sisters of Orillia & District the share to which such other beneficiary would otherwise have been entitled, to be used for the purposes of Big Brothers Big Sisters of Orillia & District as the organization’s Directors may determine from time to time.”

Power to Vary Purposes

The following clause empowers the Big Brothers Big Sisters of Orillia & District of Directors to vary the purposes for which the gift is used if circumstances make it impossible or impracticable to carry out the original purposes. It is recommended that this clause be included wherever a designated use is specified. If in the opinion of the Directors of Big Brothers Big Sisters of  Orillia & District (hereafter the Directors) it should become impossible, inadvisable or impracticable to apply the said gift for the said purpose or if the Directors are of the opinion that part of the gift is not required for such purpose, the Directors shall use the gift or such part thereof in such a manner as, in its discretion, may be to the agencies best advantage for other purposes consistent with the spirit and intention of the gift. You may wish to discuss the terms of the bequest with a representative of Big Brothers Big Sisters of Orillia & District, particularly when you wish to designate its use, to ensure that your wishes can be fulfilled. Once your Will is executed, we would appreciate receiving a copy of the clause pertaining to your bequest to the agency for future reference. All information will be held in strictest confidence

**Big Brothers Big Sisters of Orillia & District urges you to consult with your lawyer, accountant, financial planner or insurance agent to help you decide what kind of planned gift would be best for you and your family. Information provided here is not intended to represent legal or financial advice.  Please consult with a professional advisor. 

A gift of Life Insurance allows you and your family to make a significant gift to Big Brothers Big Sisters of Orillia & District in the future – one that may not be possible during your lifetime. The premise of this program is simple and unique to Big Brothers Big Sisters of Orillia & District.

Rather than making a monthly or yearly donation to the charity, you receive tax benefits for contributions made to a life insurance policy for Big Brothers Big Sisters of Orillia & District.

You may also wish to leave the policy payout to the discretion of the Board of Directors. The proceeds would go toward initiatives that would most benefit Big Brothers Big Sisters of Guelph at the time.

• Charitable remainder trusts;
• Gift plus annuities;
• Gifts of securities and mutual funds;
• Gifts of residual interest;
• Real estate

If you would like, we can talk with you and your advisors to ensure your planned gift fits your desires, financial objectives, family needs and your tax situation. We’d be happy to answer any of your questions about our programs and services. Please be assured that any discussion is confidential and will not obligate you to make a gift.

**Big Brothers Big Sisters of Orillia & District urges you to consult with your lawyer, accountant, financial planner or insurance agent to help you decide what kind of planned gift would be best for you and your family. Information provided here is not intended to represent legal or financial advice.  Please consult with a professional advisor.

When you make a gift of securities to Big Brothers Big Sisters of Orillia & District, you’re enabling life changing mentoring relationship to ignite the power and potential of young people. By donating publicly traded securities, you eliminate the capital gains tax that you’d have to pay if you sold the securities and then donated the proceeds. You’ll also receive a charitable tax receipt for your donation.

Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares, and employee stock options. You can give now, or as part of your estate and will planning.

Giving is simple. Consult your financial advisor to decide which investments make the most financial and philanthropic impact, then head to https://www.canadahelps.org/en/securities/donate and follow the step by step instructions to make the gift.

**Big Brothers Big Sisters of Orillia & District urges you to consult with your lawyer, accountant, financial planner or insurance agent to help you decide what kind of planned gift would be best for you and your family. Information provided here is not intended to represent legal or financial advice.  Please consult with a professional advisor. 

When it comes to transferring your wealth to the next generation, retirement funds are among your most heavily taxed assets. Registered assets can only be rolled over to a surviving spouse, but are taxed if they’re transferred to children or next of kin, unless a child has a disability.

Donating your RRSP or RRIF funds to Big Brothers Big Sisters of Orillia & District is a tax-smart and effective solution. By naming BBBSOD as a beneficiary of registered plans, you’ll retain ownership and use of the fund during your lifetime, receive a tax receipt for the value of the plan, avoid probate fees by removing these assets from your estate, and reduce your overall estate taxes. You can choose to donate all or a portion of your retirement funds, and still provide for your family by naming more than one beneficiary.

The gift is simple to make. Just request a Change In Beneficiary form from your plan provider and name Big Brothers Big Sisters of Orillia & District as beneficiary of all or a portion of the RRSP or RRIF and return the document to your provider.

**Big Brothers Big Sisters of Orillia & District urges you to consult with your lawyer, accountant, financial planner or insurance agent to help you decide what kind of planned gift would be best for you and your family. Information provided here is not intended to represent legal or financial advice.  Please consult with a professional advisor.

Gift of property:
Real estate, jewelry or art can be an attractive way to make a substantial gift to Big Brothers Big Sisters of Orillia & District with significant tax benefits. You can give the property outright, place it in trust to retain the use of it for life, or gift it by will.

Charitable gift annuity:
This allows you to make a gift to Big Brothers Big Sisters of Orillia & District, while at the same time securing guaranteed income for life. An annuity consists of two parts: a gift to BBBSOD for which you receive a tax receipt, and a guaranteed stream of income for you and your surviving partner.
A minimum of $50,000 is transferred to Big Brothers Big Sisters of Orillia & District. At least 20 per cent is counted as an immediate donation to BBBSOD, for which you receive a tax receipt. The remainder is used to purchase an annuity from an insurance company providing a guaranteed income.

Charitable remainder trust (CRT):
A CRT is a life income gift that enables you to give today and receive immediate tax savings, while retaining use of the asset.
Essentially, you transfer a property like real estate, investments, or artwork into a trust to be managed by a trustee (a financial institution, a lawyer, yourself, or other individuals). You name Big Brothers Big Sisters of Orillia & District as the remainder beneficiary in trust and keep an interest in the property for the rest of your life. After a prescribed period of time, or upon your death, the asset is transferred to Big Brothers Big Sisters of Orillia & District. This allows you to use the property or receive income from it during your lifetime, while receiving a tax receipt you can use today.

**Big Brothers Big Sisters of Orillia & District urges you to consult with your lawyer, accountant, financial planner or insurance agent to help you decide what kind of planned gift would be best for you and your family. Information provided here is not intended to represent legal or financial advice. Please consult with a professional advisor.

“Planned giving” is a phrase that charities use often and donors almost never say! In a nutshell, it means you create a charitable gift now that goes to the organization you love in the future, usually once you have passed away.

It’s “planned” because it takes some thought and preparation, and because you should consult a lawyer and your financial planner about it. The easiest planned gift is part of something you should have anyway, your Will.

It’s not really a lot of work. Everyone, regardless of income or assets, should have a Will, and everyone should prepare that Will with the help of a lawyer and a financial advisor. Remembering Big Brothers Big Sisters of Guelph in your will is an act that is generous, powerful, and surprisingly simple. It allows you to leave a larger gift than would be possible during your lifetime, while still retaining control of your assets.

You can leave a piece of property, securities, cash, or even a percentage of your estate. Your estate will receive a charitable tax receipt that can lower or even eliminate estate taxes. You also have the opportunity to honour or memorialize yourself or a loved one by establishing a named endowment fund.

Leaving a gift to Big Brothers Big Sisters of Orillia & District in your will is simple. Talk it over with your family and loved ones, then speak to your lawyer about drafting or revisiting your will, or adding a codicil.

Be sure to inform us of your bequest and your wishes. It will give us the opportunity to thank you and, more importantly, to discuss what you hope your gift will help to accomplish. Of course, we will respect your privacy and confidentiality. Every gift in every will makes a difference.

A gift in your Will lets you make the gift of a lifetime to a cause you believe in – a gift you might not be able to afford while you’re alive.

People think that leaving money to a charity will diminish what they can leave to their kids. But because of Canada’s tax regulations, you can give money to a charity that you would otherwise give to Canada Revenue Agency in taxes. And if your net income in the year of your death is lower than the amount you give, your executor can claim a rebate against your previous year’s income and add that to your estate.

When a charity receives a gift through someone’s Will, the charity can use that gift for something special – something it couldn’t do otherwise. Or it can save and invest the gift so that the yearly interest goes on supporting programs you’ve been giving to year by year. Talk to the charity you love about using your bequest in the way you’d like it to be used.

Anyone can make a bequest. The amount doesn’t matter – but supporting a cause you cherish, leaving a legacy of values as well as financial disbursements, matters a lot. It’s one of the most important things you can do to build the world you’d like to see.