The Winter 2022 edition of Dialogue published the first part of a series on gift planning. Under an interesting photograph of a jar, marked FUTURE, Mark Hauser, our diocesan communications officer, thoughtfully included a concise definition which hopefully expands our thinking to the possibilities careful planning provides:
“Gift-planning, planned giving, legacy gifts are all part of a growing emphasis on annual financial support for churches, hospitals, universities, and thousands of not-for-profit charitable organizations in Canada.”
For example, Mary has decided it is high time she made an appointment to consult a lawyer about having a will drawn up which would reflect her interests and priorities in life…a document which reflects her experiences and hopes for the future through her active church, the local community foundation, and her happy years at university. She is considering a fairly substantial portion of her estate, perhaps 40%, to be shared equally with her local church and the Diocese of Ontario Foundation. She also wishes to assist her two grandchildren as they prepare for university, just like her grandparents helped her, perhaps 40% as well, with the balance being a gift to a younger sister who has had some health challenges. She is certain a lawyer will help her to achieve these goals and provide her with information about powers of attorney and the whole matter of who will be the Executor or Estate Trustee.
Mary knows how important it is to have a valid will, one which if circumstances change, she can review and change. She knows of a neighbour who suddenly died in a car accident at an early age and did not have a will, apparently thinking he would organize one someday. The resulting legal and emotional problems only compounded the loss of a fine friend.
The incumbent of Mary’s church recently quoted a passage from Luke 12, which certainly made her think about the responsibility (and opportunity) of taking legacy giving seriously…now.
“[Jesus] told them a parable: ‘The land of a rich man produced abundantly. And he thought to himself, ‘What shall I do, for I have no place to store my crops?’ Then he said, ‘I will do this: I will pull down my barns and build larger one, and there I will store all my grain and my goods. And I will say to my soul, ‘Soul, you have ample goods laid up for many years; relax, eat, drink, be merry.’ But God said to him, ‘You fool! This very night your life is being demanded of you. And the things you have prepared, whose will they be?’ So it is with those who store up treasure for themselves but are not rich toward God.”
Wills are very important. Every adult should have one, hopefully prepared by legal counsel. It is, frankly, thoughtless and irresponsible not to take this seriously.
Gift planning also includes many other ways of being generous. Bequests are the most important way of making a thoughtful gift…generally today, 85% of gifts come by way of a bequest.
We are grateful to Roy Conacher, QC, a director of the Foundation, for inviting his colleague, Alexandra Manthorpe, a Wills & Estate lawyer at Cunningham, Swan, Carty, Little & Bonham LLP in Kingston, for preparing a series of three articles (to date) on gift planning in some very helpful detail, as legal information and not legal advice. Please check the Foundation website, or contact Archdeacon John Robertson for print copies of the articles, available at no cost and designed for wide distribution throughout our diocese.
Gift Planning 102:
Did you include legacy gift planning in this year’s new resolutions? Opportunities for creative generosity abound...and caring responsibilities
The Winter 2022 edition of Dialogue published the first part of a series on gift planning. Under an interesting photograph of a jar, marked FUTURE, Mark Hauser, our diocesan communications officer, thoughtfully included a concise definition which hopefully expands our thinking to the possibilities careful planning provides:
“Gift-planning, planned giving, legacy gifts are all part of a growing emphasis on annual financial support for churches, hospitals, universities, and thousands of not-for-profit charitable organizations in Canada.”
For example, Mary has decided it is high time she made an appointment to consult a lawyer about having a will drawn up which would reflect her interests and priorities in life…a document which reflects her experiences and hopes for the future through her active church, the local community foundation, and her happy years at university. She is considering a fairly substantial portion of her estate, perhaps 40%, to be shared equally with her local church and the Diocese of Ontario Foundation. She also wishes to assist her two grandchildren as they prepare for university, just like her grandparents helped her, perhaps 40% as well, with the balance being a gift to a younger sister who has had some health challenges. She is certain a lawyer will help her to achieve these goals and provide her with information about powers of attorney and the whole matter of who will be the Executor or Estate Trustee.
Mary knows how important it is to have a valid will, one which if circumstances change, she can review and change. She knows of a neighbour who suddenly died in a car accident at an early age and did not have a will, apparently thinking he would organize one someday. The resulting legal and emotional problems only compounded the loss of a fine friend.
The incumbent of Mary’s church recently quoted a passage from Luke 12, which certainly made her think about the responsibility (and opportunity) of taking legacy giving seriously…now.
“[Jesus] told them a parable: ‘The land of a rich man produced abundantly. And he thought to himself, ‘What shall I do, for I have no place to store my crops?’ Then he said, ‘I will do this: I will pull down my barns and build larger one, and there I will store all my grain and my goods. And I will say to my soul, ‘Soul, you have ample goods laid up for many years; relax, eat, drink, be merry.’ But God said to him, ‘You fool! This very night your life is being demanded of you. And the things you have prepared, whose will they be?’ So it is with those who store up treasure for themselves but are not rich toward God.”
Wills are very important. Every adult should have one, hopefully prepared by legal counsel. It is, frankly, thoughtless and irresponsible not to take this seriously.
Gift planning also includes many other ways of being generous. Bequests are the most important way of making a thoughtful gift…generally today, 85% of gifts come by way of a bequest.
We are grateful to Roy Conacher, QC, a director of the Foundation, for inviting his colleague, Alexandra Manthorpe, a Wills & Estate lawyer at Cunningham, Swan, Carty, Little & Bonham LLP in Kingston, for preparing a series of three articles (to date) on gift planning in some very helpful detail, as legal information and not legal advice. Please check the Foundation website, or contact Archdeacon John Robertson for print copies of the articles, available at no cost and designed for wide distribution throughout our diocese.
Diocese of Ontario Foundation
View all postsKeep on reading
Stewardship Reflections with the Ven. Wayne Varley
Oh God, where are you in all this?
Sister let me be your servant: Funding renewed Guest House at SSJD
Challenge to us in our diocese—Autumn and beyond!
Lay readers enjoy harvest of ‘Summer Fruit’
Outreach St. George’s Kingston continues to serve those most in need