While millions of Quebecers are considering the transfer of their heritage, planned donations offer the possibility of transmitting to future generations part of the heritage built since the Quiet Revolution and of bringing to life the values that underlie it: solidarity, equality opportunities, cultural vitality and belonging to the community.
If only one in ten people planned such a gift in their will, hundreds of millions of additional dollars would strengthen our community, our cultural institutions and our media, our health network, our education system, the protection of our territory ; in short, build the Quebec of tomorrow.
But what is a planned gift? It is a charitable contribution that a person prepares through long-term financial planning. This way of (re)giving has many advantages for the organizations supported since it provides them with more stable and predictable income.
In addition, the resulting tax deductions can result in substantial and immediate savings for donors. These deductions can often also be transferred to the estate at the time of death, which allows you to escape the eternal dilemma: should you pass on your assets to your descendants or make charitable donations? With good planning, you can do both.
Planning
Planned donations should therefore be part of the financial and estate planning of anyone who is committed to giving back to society and continuing their support for the causes that have been dear to them throughout their life. Yet only 13% of Canadians report having discussed this issue with their financial advisor. This is a missed opportunity to optimize their financial and estate planning, while having a direct impact on causes and organizations with growing needs.
As a community foundation, the Foundation of Greater Montreal has already supported hundreds of people in the deployment of their philanthropic projects, whatever the cause supported, by working closely with their financial advisors. With a starting capital of just $1,000, without any start-up costs and by signing a simple agreement, it is possible to create your own philanthropic foundation and open up a universe of unsuspected possibilities.
Hundreds of billions in capital will be transferred in the coming years. This is an unprecedented situation in the history of Quebec. Let’s ensure that part of this heritage contributes to building the Quebec of tomorrow. It all starts with a conversation with your financial advisor or a call to your community foundation. And the rest is up to you.