We know you. You care about your community and you work diligently to make the world a better place. You give, you advocate, and you volunteer. We know you because you are the person that has helped us turn dreams into reality for thousands of children. Without you our work would be impossible.
We know you because you are the person who asks, “What more can I do to help?” With a Legacy Gift, you can make a difference in the lives that follow and ensure that your contributions have a lasting effect. Your donation can inspire others to make similar commitments, as well as provide valuable tax benefits.
Legacy giving is a wonderful way to support the things you care about most, now and after you're gone. For many donors, it's also an important part of their estate planning and exemplifies the vision and forethought of their philanthropic beliefs. Also, by including charitable gifts in your estate planning, you may eliminate significant taxes.
Most importantly, your Legacy Gift to the Zajac Ranch Society helps us plan for the future needs of Zajac Ranch for Children and provides funding for our summer medical camps benefiting children and young adults with serious and chronic illnesses and disabilities. Summer camps have a direct, positive impact in the development in social integration and citizenship, environmental awareness, attitudes towards physical activity, emotional intelligence, personal development and self-confidence.
More about the types of planned gifts to consider. The information presented here can help facilitate discussions between you and your advisor. It is not intended as legal or financial advice. We encourage you to consult a qualified professional.
Wills & Bequests
A charitable bequest is a gift specified in your will. It is an easy and effective way to support children and young adults with chronic and life-threatening illnesses for our future generations. You can designate a certain sum of money, a particular asset, or a portion of your estate. Whatever form your gift takes, the result is the same – happier and healthier children.
How to Leave a Bequest: To include a bequest to Zajac Ranch Society in your will, you should consult with a lawyer or notary experienced in estate planning. They can help you prepare a new will or add a codicil to your existing one.
Types of Bequests and Sample Language: (We recommend that you carefully review the terms of your will with a professional trained in handling trusts and estates):
General Bequests are legacies left to certain people or causes that come from the general value of the estate, and are made by designating a specific dollar amount, a particular asset or a fixed percentage of your estate to the cause of your choice.
Suggested bequest language:
"I give, devise, and bequeath to Zajac Ranch Society, located at 300 – 2006 West 10th Ave. Vancouver, BC Canada, with the charitable registration number 86039 2877 RR0001 with the sum of $________ (or a description of the specific asset), for the benefit of Zajac Ranch Society and its general purposes."
Specific Bequests are made when a particular item or property is bequeathed for a designated purpose. (i.e., instruments bequeathed to the local school district for use in music education; dollar funds to be used in the operation of a school or church.)
Specific bequest language:
"I give, devise, and bequeath to Zajac Ranch Society, located at 300 – 2006 West 10th Ave. Vancouver, BC Canada, with the charitable registration number 86039 2877 RR0001, the sum of $_______ (or a description of a specific asset), for the benefit of Zajac Ranch Society to be used for the following purpose: (state the purpose). If at any time in the judgment of the trustees of Zajac Ranch Society it is impossible or impracticable to carry out exactly the designated purpose, they shall determine an alternative purpose closest to the designated purpose."
Residual Bequests are made when you intend to leave the residue portion of your assets after other terms of the will have been satisfied.
Residuary bequest language:
"All the rest, residue, and remainder of my estate, both real and personal, I give to Zajac Ranch Society, located at 300 – 2006 West 10th Ave. Vancouver, Canada, with the charitable registration number 86039 2877 RR0001, for its general purposes."
Contingency Bequests allow you to leave a portion of your estate to a particular charity if your named beneficiary does not survive you.
Contingency bequest language:
"I devise and bequeath the residue of the property, real and personal and wherever situated, owned by me at my death, to (name of beneficiary), if (she/he) survives me. If (name of beneficiary) does not survive me, I devise and bequeath my residuary estate to Zajac Ranch Society, located at 300 – 2006 West 10th Ave. Vancouver, Canada, with the charitable registration number 86039 2877 RR0001, for its general purposes."
Without a will, there is no mechanism in place to make a bequest, so here are the steps you should take to make sure your wishes are granted.
- Make a list of organizations or causes that you would like to support.
- Make a detailed list of your assets (financial, real estate, vehicles, jewelry, collectibles, musical instruments, etc.)
- Set up an appointment with your financial analyst or attorney, or planned giving officer at the organization you intend to support. These professionals will help sensitively guide you through the process.
RRSPs & RRIFs
You can designate Zajac Ranch Society as a beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). These assets are highly taxed after the later of your or your spouse's death. By donating a RRSP or RRIF, you will offset the tax that would otherwise be payable on these assets by your estate.
In addition, legacy gifts of a RRSP or RRIF are not included in the value of your estate, thus avoiding probate fees.
Charitable Remainder Trust (CRT)
A Charitable Remainder Trust is a life income gift that enables you to give today (with immediate tax savings) while retaining use of the asset (investments, real estate, work of art, etc.). After a prescribed period of time or upon your death, the asset is transferred to Zajac Ranch Society. The result of this planned gift is that you can receive income or use of the property during life but have provided the charity with an irrevocable legacy gift.
Benefits to You:
- You receive a lifetime income from the assets you donate
- You receive immediate tax benefits to off-set your current income
- Gifts of appreciated property can be structured to avoid capital gains tax
- A CRT is not included in the value of your estate, thus avoiding probate fees. Unlike a bequest, this type of gift cannot be challenged in court
- You support future generations of children across Canada
Note: This type of gift is irrevocable (you cannot change the terms of the gift or trust).
You can donate real estate, shares in privately-held corporations, royalty interests, works of art, jewelry, or other property to Zajac Ranch Society.
Prior to accepting the gift and issuing a receipt for income tax purposes, Zajac Ranch Society will require a professional appraisal completed by a qualified third-party appraiser to determine the fair market value of the property.
Donating appreciated stocks or mutual funds is the most tax-effective way to make an outright gift during your lifetime or as part of a legacy gift.
When an individual sells an appreciated stock or mutual fund they are required to pay tax on 50 per cent of the capital gain. However, thanks to the Federal Budget of May 2006, if they donate the appreciated securities to charity, they pay no capital gains tax.
Benefits of making a gift of securities to Zajac Ranch Society:
- A charitable tax receipt will be issued for the fair market value of the securities No capital gains tax owing if gifted to a public charity
- Satisfaction of seeing your donation put to good use
- A not-needed asset is removed from your portfolio and converted to a charitable gift
- Opportunity to create a lasting charitable legacy through estate planning
Your donation may be outright, providing funds for immediate use, or it may be planned now for a future date.
For more information please review our Legacy Giving Information or contact us. We would be happy to help you leave your legacy through The Zajac Foundation.