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Legacy donations do more than just support a charity. They set an example for younger generations to give back.
While estate planning and creating a will has traditionally been thought of as the domain of older adults, having a plan in place for assets like property or savings accounts is extremely important for young and mid-career professionals too.
“It doesn’t matter the generation. The moment you have a child, the moment you buy your first home, you start accumulating assets—and with them, the opportunity to shape your legacy,” says Hilary Beard, the director of gift and estate planning for BC Children’s Hospital Foundation.
There are many ways to allocate these assets in a will, and a lawyer or accountant can offer advice for those seeking guidance. But one option is through a legacy donation: a way to give back and support a philanthropic cause.
“Legacy giving is future focused,” says Beard. “While most donations made with cash or securities today can have an immediate effect, a legacy gift—planned through your will or other financial assets which may be designated—is designed to make its powerful impact at a future time.” Legacy donations are made through an individual’s estate plan (often a will), and could be a fixed amount of money, a percentage of an estate or specific assets like property or securities.
“As the name suggests, legacy giving is a method of contributing financially, posthumously,” explains Sylvia Zylla, Legacy Giving with the Burnaby Hospital Foundation. “Legacy contributions can also provide various tax benefits, particularly in reducing estate taxes for the donor’s heirs, making them not only meaningful, but also practical,” she adds.
And this type of planning is becoming increasingly familiar to younger generations (we’re looking at you Gen X) as they look ahead to their future.
Unsurprisingly, the younger the age group, the lower the percentage of individuals who have a will (let alone one that’s up-to-date), according to a 2023 study by the Angus Reid Institute.
But thanks to awareness campaigns by charities, says Kim Findlay, the divisional director of development for The Salvation Army, families are starting to be more transparent about estate planning intergenerationally—and getting on it earlier.
“Still only about 48 percent of the population has a will,” he says. “So, we’re starting to see more and more people planning and creating that will to take care of not only their family, but to build in a gift to help support those organizations that they’ve supported throughout their life.”
People are also narrowing in on what kind of impact they’d like their legacy donation to have. “It might be in a particular program or service, maybe for homelessness or addiction recovery, or for women’s programs, or children’s programs, so they’re really being more specific of how they like to direct that gift,” says Findlay, “[and we’re] starting to see a little bit more of a trend where they’re engaging their whole family in that decision making.”
Increased awareness comes alongside new digital platforms like Epilogue or Willfora that are simplifying estate planning for many Canadians. “The rise of online will platforms has also made estate planning more accessible, particularly for those with simpler estates,” says Elissa Morrissette, the vice president of development at the BC Cancer Foundation. “We’ve partnered with several of these services, allowing donors to include the BC Cancer Foundation in their plans. In parallel, we continue to encourage individuals to speak with their legal, financial and accounting advisors to ensure their plans reflect their wishes and are structured in the most effective way.
“Encouragingly, more Canadians than ever are including charities in their estate plans,” she continues. “At the BC Cancer Foundation, each year we hear from more donors who have already planned a legacy gift and are letting us know in advance.” That early communication, she adds, allows the charity to express their gratitude and confirm how they would like to be recognized.
For Findlay, legacy gifts also support the increased demand for services at The Salvation Army. “Leaving a legacy, to me, allows people the opportunity to support causes that are important to them. And in doing so, having a lasting impact on the type of world that they want to leave and pass on to future generations,” he says. “It helps set an example for their children, their grandchildren to follow as well.”
It’s this philanthropic leadership that plays an important part in encouraging younger and future generations to also leave a legacy gift. “Leaving a legacy encompasses the summation of one’s life lived in accordance with their core values and beliefs,” says the Burnaby Hospital Foundation’s Zylla. “It also entails inspiring the next generation to reciprocate the generosity and kindnesses received throughout their lifetime from family, friends and the community.”
These core values and beliefs may be shared within the family, as well as play a role in setting an example for younger generations, not just to be philanthropic, but to care about a cause. “We’re increasingly seeing business-minded donors view legacy giving as a tool for expressing their values,” says Beard, “one that complements personal, family and professional goals.” For those who want to leave multiple legacy gifts, she says that “advisors are also critical to the success of a legacy plan where a small business is a part of a retirement plan that includes one or more charities.”
But legacy gifts can come from anywhere, whether it’s a lifelong small business owner or a corporate CFO. “Anybody can leave a gift—if they’re of legal age, they can make a will,” Zylla says, adding that legacy gifts aren’t exclusive to high-net worth individuals or philanthropists. “In my career, I have seen people of modest means make a great impact,” she notes.
While the impact of a legacy gift is often realized after the donor’s passing—when family and charity come together to commemorate it—more frequently these gifts are being celebrated during the donor’s lifetime. “There’s also a growing trend of donors aligning legacy giving with life milestones—retirement, homeownership, the birth of a grandchild—using these natural moments to reflect on the future they want to help shape,” says Beard.
Legacy gifts don’t just inspire future generations to give back, they also support them in vital ways that governments, businesses or other fundraising entities cannot. For many organizations, these donations can account for a significant portion of their revenue. At The Salvation Army, for example, Findlay says that legacy donations have become up to a third, sometimes even higher, of the revenue they receive in a year.
“When we have an increase in estate gifts, it allows us to meet the needs of that time. And we’ve seen since COVID-19, the demand for programs and services in many areas has grown by 30 percent, if not more,” he says. “So, for us, it means providing stability to programs and services for communities.”
Morrissette also sees the significant role legacy donations can play at the BC Cancer Foundation. “Last year, donors collectively contributed over $20 million through their estate plans to the BC Cancer Foundation—a truly transformational impact and a testament to the power of legacy giving. These gifts drive breakthroughs, fuel cutting-edge research programs, help acquire best-in-class technology, and support compassionate and expert care close to home,” she says, adding that “a legacy gift to the BC Cancer Foundation is a powerful investment in the future of healthcare.”
Though the contributions are significant, the need isn’t going away any time soon. “More than 80,000 British Columbians and their families are living with cancer today, a number that continues to rise as our population grows and ages,” Morrissette says. “The need for long-term, sustainable investment in cancer research, treatment and infrastructure has never been greater.”
Beard also notes that the need for donor support has never been greater as the cost of providing healthcare rises—particularly since BC Children’s Hospital is the only children’s hospital in all of British Columbia. “Canada invests just 1.6 percent of its GDP in children and youth—less than half of other leading countries,” she says. “Children’s health care needs are growing more complex and demanding.”
Because legacy donations are so forward focused, they aren’t tied to the present’s economic circumstances. For younger generations planning a legacy donation well into the future, a small percent of the estate now could grow multiple times over by the time the gift is ready to be given. “Economics go up and down, but children’s futures should only have one direction, and that’s up,” Beard says.
For mid-career professionals looking to support local community to build a stronger future for B.C. (without breaking the bank), legacy gifts could be the right option.
“Leaving a legacy donation for Burnaby Hospital Foundation is crucial in 2025 to enable the hospital to meet the growing and evolving needs of our diverse population,” Zylla says. “Legacy gifts are crucial for organizations like Burnaby Hospital Foundation to sustain their support and make a lasting impact for future generations. They serve as vital funding streams, enabling charities to plan confidently and capitalize on larger donations.”
BC Cancer Foundation: bccancerfoundation.com/legacy
BC Children’s Hospital Foundation: bcchf.ca/legacy
Burnaby Hospital Foundation: bhfoundation.ca/ways-to-give/create-a-legacy
The Salvation Army: salvationarmy.ca/create-your-legacy
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