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How to Choose Charitable Gifts in Your Estate Plan: Tips and Strategies for Maximizing Your Impact


Including charitable gifts in your estate plan is a great way to make a positive impact on the world and support causes that are important to you.


But with so many worthy charities to choose from, it can be difficult to know where to start.


Here are a few tips and strategies to help you choose charitable gifts that will make the most impact in your estate plan:

  1. Research the charities you're interested in: It's important to choose charities that align with your values and that have a proven track record of effectively using donations to make a difference. Look for charities that are transparent about their finances and how they use donations. You can also check out charity watchdog organizations, such as Charity Intelligence Canada, to get an idea of which charities are the most effective.

  2. Consider the tax benefits: Charitable gifts in your estate plan can provide tax benefits for your estate, which can help to reduce the overall tax burden on your heirs. Keep in mind that different charitable gifts have different tax implications, so it's important to consult with a financial planner or estate lawyer to understand the best options for your situation.

  3. Decide how you want to give: There are several different ways to make charitable gifts in your estate plan, including charitable bequests, charitable trusts, and charitable remainder trusts. Each option has its own pros and cons, so it's important to consider which one is best for your situation.

  4. Talk to your family: If you're including charitable gifts in your estate plan, it's a good idea to discuss your plans with your family. This can help to ensure that your charitable intentions are carried out and that your family understands your wishes.

  5. Review your plan regularly: It's a good idea to review your estate plan on a regular basis to ensure that it still reflects your wishes and that your charitable gifts are still aligned with your values.

By following these tips and strategies, you can choose charitable gifts in your estate plan that will make a meaningful impact on the causes you care about.


Remember to do your research, consider the tax benefits, and consult with a financial planner or estate lawyer to ensure that your charitable gifts are included in your estate plan in a way that aligns with your goals and values.



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