Issue link: http://publications.winnipegfreepress.com/i/1108945
4 L E AV E A L E G A C Y ™ M a k i n g a D i f f e r e n c e i n t h e L i v e s t h a t F o l l o w Planned giving is more than just a meaningful gesture — it's a way to give a gift that will benefit generations to come. For Pat Lilley, chair of the Manitoba chapter of the Canadian Association of Gift Planners (CAGP) and Legacy Circle Convenor at The Winnipeg Foundation, planned giving is all about future generosity. "For any charity, small or large, future generosity helps provide sustainability for the organization. Organizations are looking to support their day- to-day activities, and looking ahead, they want to ensure there is ongoing support for the good work they're doing in the community," she said. "From a donor's point of view, it's an opportunity for them to consider what has been impactful in their life, in their family's life and what kind of a legacy they would like to create." Gifts of any size can make a difference, and often a deferred gift is the most effective gift people can make. "Your legacy gift is your opportunity to leave a memory," Lilley said. "It also helps facilitate tax consequences and provides continued support to a charity that has been meaningful to you in your lifetime." Deferred offerings can include bequests, life insurance, retirement fund accumulations, charitable remainder trusts and gifts of residual interest. "It's important to ensure a charity will be able to accept and administer particular types of gifts," Lilley said. "Charities also value the opportunity to create a relationship with an individual, to learn about their philanthropic goals and, most importantly, to thank them for their generosity." Donors can reach out to a charity about planned giving, particularly if that organization has played an important role for them. "Most charities are thrilled to work with folks and guide them through the process," Lilley said. "But if somebody isn't sure what charity they'd like to support, there are larger overarching organizations, such as a community foundation, that can help provide perspective." When reviewing your estate planning options, consider working with a lawyer, accountant or financial advisor as these professionals can provide guidance on planned giving. "Many charities receive inquiries from professionals in the community on behalf of their clients in an anonymous capacity," Lilley said. Leaving a gift for future generations By Jennifer McFee for the Free Press