When you include Scott Mission in your estate plan, you will be delivering positive and lasting change for those who experience hunger and homelessness across the city of Toronto. With a gift in your Will to Scott Mission, you can create a lasting legacy of love for generations to come.
LEAVE
A LEGACY
OF LOVE
Including a gift in your Will to Scott Mission is a simple yet powerful way to help change lives.
Letâs get in touch.
If a gift in your Will feels like it might be the right choice for you, or if you would like more information, please contact:
Kendra Hickton
Senior Manager, Legacy Giving at:
647-465-7757 or khickton@scottmission.com.
A gift in your Will offers flexibility, allowing you to donate various assets such as cash and securities and allows you to choose to give a specific amount or a percentage of your estate. A tax receipt for the full donation amount will be provided which can help to offset any capital gains or other taxes.
Legacy gifts ensure that Scott Mission will be able to serve the most vulnerable in our community for years to come. These gifts help to build a reliable and steady source of revenue to keep our programs and services going. By including a gift to Scott Mission in your Will you will help to feed, clothe and provide vital services for those who need support in our community. Thank you for considering this impactful way to make a difference.
HEREâS HOW TO GET STARTED:
1. Let family and loved ones know your decision to leave a gift.
2. Speak with your professional advisors to get up-to-date advice.
3. Draft or revise your existing will. If you are considering making changes to an existing Will, ask your lawyer to prepare a codicil. A codicil is a legal document used to amend or add to your existing Will. Find sample wording for your Will here.
4. Let us know that you have included Scott Mission in your Will. That way we can thank you for the incredible difference you are making in the lives of so many. We respect your privacy, and all information is treated with confidentiality.
NOTE: Scott Mission recommends that you consult with your lawyer or financial advisor as to the type of gift best suited for your circumstances.
Stories of Legacy Giving
Learn more about those who have supported Scott Mission by leaving a legacy in their Will.
Kyeâs Story
âThey say that there is no experience in life more painful than losing a child.â
A Wonderful Life
âIâve had such a wonderful life. Iâve always felt incredibly thankful to be here.â
Memories Live On
âNot long ago, I decided to leave a gift in my will to support the summer camp program at Scott Mission.
Ways To Leave A Legacy
There are a number of other ways to make a gift to Scott Mission that will have an impact.
These gifts can be made both today and in the future.
GIFTS OF SECURITIES
Donating securities is a great way to support Scott Mission programs. When you donate shares, mutual funds, or bonds, you will receive a tax receipt for the full amount of the donation. Depending on your financial situation, you may avoid capital gains tax on these donations and the benefit of no capital gains tax paid.
To initiate the donation process, please download the securities transfer form, fill it out, and send it to your financial advisor. Additionally, send a copy to donate@scottmission.com.
NOTE: The 2023 federal budget introduced significant changes to the alternative minimum tax system (AMT) that may impact some donations. These changes will be effective for tax years beginning after 2023. We recommend consulting with a professional advisor for more information on how this may impact you.
Budget 2024 implementation bill: How Bill C-69 could impact you | Grant Thornton
We recommend consulting with a professional advisor for more information.
For any questions or concerns, please feel free to contact Kendra Hickton at:
647-465-7757 or khickton@scottmission.com. Thank you!
DONATE YOUR RRIF/RRSP/TFSA
When Scott Mission is made the beneficiary of RRSPs, RRIFs, TFSAs, a tax receipt is issued for their value. Taxes are consequently reduced, and probate fees are avoided.
MAKE A GIFT OF LIFE INSURANCE
Making Scott Mission the owner and beneficiary of a life insurance policy is a great way to make a significant donation for the cost of monthly premiums. Insurance benefits are paid directly to Scott Mission, so probate fees are avoided. Have the comfort of knowing that youâre making a lasting investment by supporting Scott Missionâs work for those in need.
GIVE THROUGH A DONOR ADVISED FUND
Donor-advised funds (DAFs) provide flexibility to make a charitable gift when you choose, while also receiving a tax receipt for the current year. If you have a Donor-advised fund (DAF), you can designate Scott Mission as the beneficiary of the fund in your will. Alternatively, you can make a gift at any time you choose simply by initiating a grant to Scott Mission.
Legacy Resources
There are a number of other ways to make a gift to Scott Mission that will have an impact.
These gifts can be made both today and in the future.
LEGACY TOOLKIT
Some people think that charitable bequests are reserved for the wealthy. But, every day in Canada, middle-class Canadians are choosing to leave gifts to their favourite charities in their Wills. In fact, about 1.5 million Canadians who are alive today, already have gifts to charities in their Wills. Learn more in our helpful LEGACY OF LOVE guidebook.
FAQâs
What is an estate gift?
An estate gift is a donation made through your Will during your lifetime for the future benefit of our neighbours in need. This type of gift can include cash, securities, and other assets. You can choose to donate a specific sum of money or a percentage of your estate. In return, you will receive a tax receipt for the full donation amount, which can help offset any capital gains or other taxes.
What does it mean to make Scott Mission a beneficiary of my Will?
When you designate Scott Mission as a beneficiary, it means Scott Mission will receive a portion of your estate (known as a âresidual beneficiaryâ) which can be designated as an amount or percentage.
Can I take care of my family and give to Scott Mission?
Of course! We encourage you to let your family know of your plans to leave a charitable bequest. In fact, depending on circumstances, leaving a gift in your Will can benefit your family by reducing overall taxes and fees. We recommend speaking with a financial advisor or lawyer to discuss your options.
Do I have to be wealthy to make a gift in my Will?
No, not at all. we are grateful for every gift regardless of the size. People often underestimate the size of their estate. Since this gift doesnât come from current assets it allows many to leave a larger donation than they could during their lifetime.
Is it difficult to set up and what if my plans change?
Making Scott Mission a beneficiary of your Will is easy. We also understand that plans change. A gift in your Will can be modified at any time.
Weâre Here To Help
If a gift in your Will feels like it might be the right choice for you, or if youâd just like some more information, Iâd like to invite you to get in touch with me at:
647-465-7757 or khickton@scottmission.com.
Please know that you will be under no obligation, and our conversation will remain completely confidential. It is my privilege to work at Scott Mission and to support those who are doing all they can to access their full potential for a better future. Iâm so grateful that you and so many others continue to give so generously. You are the reason weâre able to make a difference in the lives of our neighbours who rely on Scott Mission for a helping hand.
With gratitude,
Kendra Hickton,
Senior Manager, Legacy Giving
