A legacy gift, also called a planned gift, gives hope that lasts beyond a single lifetime. By designating BALANCE for blind adults as the beneficiary of a will, trust, retirement plan, life insurance policy or other types of deferred giving arrangement, you can make the future brighter for people with visual impairments — today and for years to come.
Benefits of legacy giving
- The satisfaction of knowing you have helped the people we serve become as independent as possible, for a lifetime
- The opportunity to join fellow donors at events
- Recognition of your commitment in BALANCE publications, to inspire generosity in others and follow your leadership
There are many easy giving options from which you can choose — strategies that can enhance your personal goals, as well as those of BALANCE. We’re always here to help. Simply contact us or call 416-236-1796, ext. 230, with any questions.
If you have already included BALANCE in your estate or financial plans — thank you! Please let us know by completing the Legacy Gift Confirmation Online Form. We would love to thank you and you’ll be welcomed into a special group of supporters – The BALANCE Legacy Society.
Join the BALANCE Legacy Society
PS – We respect your privacy and recognize that making a gift in your will is a personal choice. We can provide guidance but it is an important decision you need to make on your own.
FAQS – Find out more about legacy giving
What is legacy/planned giving?
The terms legacy or planned giving refer to charitable gifts that require more financial planning and thoughtfulness than a typical one-time contribution. This type of giving is popular because it can provide you with valuable tax benefits while giving BALANCE the resources we need to improve the lives of people who are living with sight loss.
Through planned giving:
• You can make a gift that costs nothing during your lifetime.
• You can receive larger tax savings by giving stock.
• You can donate your house, continue to live there and receive a tax break, all at the same time.
Why should I consider it?
Here’s the compelling explanation from Colleen Bradley, at PGgrowth, and a lifetime specialist in wills and estate planning, quoted from Canada Helps-
“People think that leaving money to a charity will diminish what they can leave to their kids. But because of Canada’s tax regulations, you can give money to a charity that you would otherwise give to Canada Revenue Agency in taxes. And if your net income in the year of your death is lower than the amount you give, your executor can claim a rebate against your previous year’s income and add that to your estate.”
Should I speak with my family?
Talking to your family is a crucial step. Explain that your charitable donation will offset taxes on the estate. We are sure they would understand that this money is going either to the tax collector, or to a charity you are so passionate about, and they ideally would be happy about it going to the latter.
Do remember, anyone can make a bequest. The amount doesn’t matter – but supporting us, a cause you cherish, leaving a legacy of values as well as financial disbursements, matters a lot.
How will it benefit BALANCE?
We are only partially funded by the Ministry, and require extra support to run our current programs, launch new ones, hire more skilled staff, update our technology and equipment, perhaps take a risk on something promising but untried. Please talk to us about using your bequest in the way you’d like it to be used.
It’s an important step you can take to build the world you envision for people with sight loss.
How do I get started with planned giving?
You can build a better future for the people we serve by remembering BALANCE in a will, trust, retirement plan or life insurance policy. Helping BALANCE and securing your financial future or the financial security of your loved ones starts with a solid estate plan. And a solid estate plan begins with your will.
What language should I use for an outright gift by will?
The following language may be used for an outright gift by will:
Specific dollar amount or percentage:
“I give the (sum of dollars or percentage of estate) to the Trustees of BALANCE for Blind Adults, located in Toronto, Ontario, to be used for the charity’s general purposes.”
Part or all of residue:
“I devise and bequeath to the Trustees of BALANCE for Blind Adults, located in Toronto, Ontario, (all or specify a portion) of the rest, residue and remainder of my estate to be used (for the charity’s general purposes or insert a specific program or purpose.).”
How can I update my existing will to include BALANCE?
Step 1: Get a copy of your current will.
Step 2: Mark the areas you would like to change.
Step 3: Meet with your estate planning attorney to draft and prepare your new document.
Step 4: Consider discussing changes with us if they affect your bequest to BALANCE.
Just a few sentences in your will are all that is needed. You can give all of your estate, a percentage of your estate, a specific sum of dollars or the remainder of your estate (after other bequests) to BALANCE. Your gift can be used for general support for BALANCE or to fund specific programs or initiatives.
Should I provide a lump sum or a percentage of my estate?
Any gift you make to BALANCE is valued and will make a long-term difference in the lives of those we serve.
Can you help me gather more information?
While we can’t offer legal or financial advice, we can share giving options, draft language and provide other resources you’ll need to help you achieve your philanthropic, financial and estate-planning goals. Simply call 416-236-1796 ext. 230, with any questions.
Where should I direct my gift?
Charitable gifts should be directed to:
BALANCE for Blind Adults,
The Crossways Complex,
Dundas Street West, Unit G-06,
Toronto, Ontario, M6P 4A9
Charity registration number – BN 896568417RR0001.