More mid-career professionals are engaging in estate planning earlier, with the onset of new platforms that make creating a will more accessible than ever. In fact, the number of Canadians including a gift in their will is increasing. In 2022, 8 percent of Canadians left a gift in their will, up from 5 percent in 2020, according to research by Will Power, a campaign from the Canadian Association of Gift Planners.
While progress has been made, the need for legacy gifts has never been greater. As Canada’s population ages and, at the same time, more young people are diagnosed with heart disease and stroke, the urgency for support grows. Organizations like Heart & Stroke invest legacy gifts into life-saving medical breakthroughs that improve diagnosis, care and support. Leaving a gift in a will allows individuals to not just support a healthier future but also to intentionally align their estate planning with an important cause close to their hearts.
Flexible and tax-efficient
Legacy gifts reflect support for a meaningful cause, but they also offer significant tax advantages for an estate and its successors—no matter the income level. Left in a will, legacy gifts can be a specific dollar amount and/or a percentage of the estate, which could include cash, property or investments such as stocks, bonds or mutual funds. In Canada, estates receive a tax receipt for the full value of the gift, which can reduce taxes owed on the final tax return. This tax receipt helps increase the remaining value of an estate for its beneficiaries.
Percent designations from an estate grow over time, resulting in a larger gift when the donation is made. So, even a small percentage of an estate to Heart & Stroke would be a significant contribution toward life-saving work while still prioritizing family members.
Powerful, long-term change
Ultimately, legacy gifts contribute to measurable and significant change for generations to come. Heart & Stroke has invested $1.73 billion in research since 1952, reducing the death rate from heart disease and stroke by more than 80 percent. Legacy gifts support Heart & Stroke’s continued fight to beat heart disease and stroke, funding critical research, raising awareness and supporting vital care that improves outcomes for families in B.C. and across Canada. These gifts are also a proactive way to intentionally distribute an estate. They are future-focused, allowing individuals to leave a lasting impact without feeling the financial burden today.
“When someone includes Heart & Stroke in their will, not only are they supporting the people they love, they’re also investing in a future where more Canadians can live longer, healthier lives,” says Robyn Jones-Murrell, senior vice president, Western Canada, for Heart & Stroke. “It’s a meaningful act that reflects their personal values and transforms their lifelong achievements into a lasting impact.”
Whether you’re creating your will or updating an existing one, leaving a legacy with Heart & Stroke supports medical innovation and a long-standing history of research leadership and results while demonstrating a powerful hope and belief in the future.
Learn more at heartandstroke.ca/legacy.
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