How to build a legacy through estate planning
Estate planning is more than just a set of legal documents. It’s a powerful tool for creating a lasting legacy that reflects your values, supports your loved ones, and strengthens the causes you care about. At Children’s Health Foundation of Vancouver Island, we understand the importance of having a clear vision for your estate. We’d like to share some inspiring ideas that might help you think about your legacy.
Start with a long-term vision
A strong legacy begins with a long-term vision. We encourage you to take the time to reflect on what this vision looks like for you, your family, and your community. What do you want to leave behind? This vision will form the foundation of your estate plan. Without it, there’s no clear direction, and it becomes difficult for future generations to carry out your wishes.
Add generosity to your plan
If you’re a parent, you may think of dividing your estate equally among your children. But what if you considered adding generosity as one of your beneficiaries? For example, if you have two children, you might divide your estate into thirds, with one-third designated for charitable giving.
Another approach some people take is to view estate giving as a “final tithing” of their wealth. A common practice is to set aside 10% of an estate for charities or organizations they’ve supported throughout their lives. Including charitable giving in your estate plan is a meaningful way to extend your impact beyond your lifetime and help the causes you believe in continue their important work.
Write it down
Your vision is only powerful if it’s put into action, and that starts with writing it down in a clear and comprehensive estate plan. Without a vision, there’s nothing to write down. And if it’s not clearly articulated, it’s difficult for the next generation to carry forward what was handed off.
By outlining your goals in a well-thought-out estate plan, you provide clarity for your loved ones and ensure that your wealth and wisdom are passed on in a way that aligns with your intentions. Without this clarity, future generations might use your estate in ways that don’t reflect your vision.
What does it mean to leave a legacy?
A legacy is more than just money—it’s about perpetuating wealth, wisdom, and vision for future generations. A well-crafted estate plan should do just that. It’s an opportunity to pass down not only your assets but also your values and the principles that have guided you through life. Estate planning ensures that your legacy continues, benefiting your family and the causes that are most meaningful to you.
Create your legacy today
We believe in the power of legacy giving to transform lives. Whether you’re starting to draft your first will or updating an existing plan, adding charitable giving is a way to ensure that the causes you care about will continue to thrive long after you’re gone.
If you’re interested in learning more about how you can leave a lasting impact for Island kids and families, please contact our Legacy Giving Officer Amgad Zaky at amgad.zaky@islandkidsfirst.com or by phone at 236.470.2137.
Download our Legacy Giving Toolkit for detailed information on how you can incorporate charitable giving into your estate plan.
