Not need to be rich to give to an organization

News 13 January, 2018
  • Photo Marie-Ève Dumont
    Lucille Grimard. Legacy to share

    Marie-Eve Dumont

    Saturday, 13 January, 2018 01:00

    Saturday, 13 January, 2018 01:00

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    No need to disinherit his family or have a huge fortune to make a donation to organizations upon his death, state experts.

    “It is a bit of a taboo a planned gift. There is already a withholding in Quebec to the testament itself, it is something very personal. There are people who do not even say what they put in their will to their spouse, ” says Lucille Grimard, founder of shared Heritage, an organization that promotes donation at time of death.

    This type of donation to organizations that is called ” planned gift “, can be done in several ways, either by the testamentary gift which is the most popular, but also by the gift of stock, life insurance or other.

    False beliefs

    “I find that in Quebec we often think that the State takes care of everything, but there are many projects that could not be achieved if we look only to the government. We see more this kind of gifts in the English-speaking community, it is without doubt that they are more aware of them “, says Ms. Grimard.

    Attitudes tend to change, but there are still misconceptions about the planned gift, insists that has worked for 30 years for a foundation before you create a Legacy to share.

    According to a survey conducted by the organization in 2011, 13 % of Quebecers would like to make such a gift, while 5 % do.

    “Even among professionals such as notaries and financial planners, there is still a reluctance to talk about it with customers,” says Ms. Grimard.

    Among these misgivings, many think it absolutely necessary to have a considerable fortune to make a donation so that many organizations are funded with a series of small amounts.

    It is also possible to make a planned gift without ruining their heirs.

    “We can give 1 % of its total assets to a cause that we hold close to our heart, which won’t make a big difference for the family “, citing the example of the notary tax advisor Josée Lebreux.

    Tax benefits

    There are also different types of gifts that it is possible to do that, depending on the situation, may even be beneficial to the heirs by providing, in particular tax benefits, ” insists the specialist.

    For those who fear that their hard-earned are not intended to pay the administrative expenses of the organization, Ms. Grimard suggests to meet the body or bodies that we take to heart and understand their needs.

    Thus, it will be possible to specifically register in the testament to what shall serve as money.