Legacy & Planned Giving

No matter your age or life stage, creating a Will allows you to leave a legacy to protect loved ones and support causes you cherish.  

• This type of gift is made through a donor’s last will and testament. Donors can specify a percentage of their estate, a specific dollar amount, or even specific assets. 

• The YMCA of Hamilton|Burlington|Brantford has partnered with Willfora, a free resource to help make creating or updating a Will easier than ever. Willfora allows you to create a legal Will online in 20 minutes or less, at no cost to you. 

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Donating appreciated securities to charities can be a strategic and tax-efficient way for individuals to support charitable causes. The key reasons for donating appreciated securities include: 

• Capital Gains Tax Advantages 
  When individuals donate appreciated securities, such as stocks or mutual funds, that have increased in value since they were acquired, they can potentially avoid paying capital gains taxes on the appreciation. If they were to sell the securities, they would be subject to capital gains tax on the profit. However, by donating the securities directly to a charitable organization, the donor can often receive a charitable deduction for the full fair market value of the securities without recognizing the capital gains. 

• Tax Deductions 
  Donors are generally eligible for a tax deduction equal to the fair market value of the donated securities. This deduction can be particularly beneficial for individuals who itemize their deductions on their income tax returns. 

• Maximizing Impact 
  Donating appreciated securities allows donors to maximize the impact of their charitable giving. By contributing assets that have appreciated in value, donors can provide more significant support to the charity without reducing their own after-tax income. 

• Streamlining the Giving Process 
  Donating securities is often a straightforward process, especially if the donor works with a financial advisor or uses an online platform to facilitate the transfer. It can be a convenient way to give, particularly for individuals who hold a significant portion of their wealth in investment portfolios. 

Donors can name a charitable organization as the beneficiary of a life insurance policy, or they can donate a policy outright.

Donors can designate a charitable organization as the beneficiary of their retirement accounts.

• CGAs: Donors contribute assets to a charity and, in return, receive a fixed income stream for life. 

• CRTs: Donors transfer assets to an irrevocable trust, and beneficiaries receive income from the trust for a specified period. Afterward, the remaining assets go to charity. 

If interested in CGAs or CRTs we encourage you to reach out to your financial advisor.