Leave a lasting impact: Six tips to consider when making a will
At Children’s Health Foundation of Vancouver Island, we see the incredible impact of donors every day. Many families must leave their communities to get health care for their kids — sometimes without enough time to even pack a bag. But thanks to those who give — once, monthly, or through a legacy gift in their will — these families have a place to stay and feel supported in the toughest of moments.
Some may say leaving a “legacy” is reserved only for the wealthy. However, it’s simply the mark you want to leave in your community. For many, this translates to supporting causes they care about, even after their lifetime.
Legacy giving is not a privilege reserved for a select few. It’s an easy and accessible way to make a significant impact without using resources today. Once your beneficiaries are taken care of, you can leave a gift in your will to support future generations with the goals and values you hold dear.
As our Major Gifts and Legacy Giving Officer, Amgad Zaky, puts it, “Even a modest contribution, such as 1% of one’s estate, can yield remarkable results”.
Ready to make your will?
When you arrange a gift in your will to the Foundation, you’re making a meaningful impact on the health of Island kids long into the future. Here are some tips for creating or updating your will:
- Gather your information: List your assets, property holdings, personal effects, and any questions you have for your advisor. This helps them understand your complete estate picture.
- Talk to your loved ones: Open communication is critical. Discussing your will and legacy and giving plans with your family helps avoid confusion or conflict down the road. They’ll also appreciate knowing your wishes.
- Contact beneficiaries and charities: Have the full legal names, addresses, and charitable registration numbers for your beneficiaries and chosen charities. CHFVI’s charitable registration number is 89863 8291 RR0001.
- Choose an executor: Select a trusted individual, such as a family member, close friend, or professional, to act as your executor to manage your estate after your passing.
- Schedule a meeting: While creating a simple will can be done with online resources, consider scheduling a consultation with a lawyer specializing in estate planning. They can address your unique situation and ensure your will is legally sound and reflects your wishes.
- Review regularly: Life circumstances change. Review and update your will every 3-5 years or after significant events like marriage, divorce, birth of a child, or acquiring substantial assets.
Free resources to help you get started
Click here for additional helpful tips and a free legacy giving kit.
If you have more questions, please contact Amgad Zaky, Major Gifts and Legacy Giving Officer: amgad.zaky@islandkidsfirst.com
All inquiries will be kept confidential.
