Set a course. Leave a legacy in your wake.
What is legacy giving?
Legacy giving is a plan to support the communities you care about during your lifetime and after your death. No matter the size, a charitable gift from you or your estate leaves a powerful legacy for the future.
A charitable will bequest is a direction in your will that instructs the Executor of your estate to leave your selected assets to a charitable organization.
You can designate any asset as a gift:
funds
securities
life insurance
real estate
residue of your estate
objects
Bequests are Flexible and Customizable
You choose if your gift can be used for the greatest need, or a discussed purpose, program, or project. Restricted gifts are just that: you set the terms of how your gift may be used.
Unrestricted gifts are stewarded carefully by the Board of Directors to ensure the greatest and most sustainable possible benefit.
Tax Benefits
Leaving a bequest to a charitable organization like the Maritime Museum of BC can have significant tax savings for your estate by reducing or even eliminating your income tax liability upon your death.
A bequest meaningfully reduces your taxes and increases inheritances to your loved ones, while also furthering your community legacy by supporting the Maritime Museum of BC’s future.
It starts with a conversation:
Speak to three key parties as you set your course and plan your legacy:
- Your family and loved one, to share why you support the Maritime Museum of BC and explain your intentions for your estate;
- The Development Manager at the Maritime Museum of BC, to share your vision and discuss how to make it a reality;
- Your trusted financial or legal advisor, to understand your options and tax benefits for your will and estate.
Keep us updated!
Your support for the museum brings maritime heritage and experiences to the entire community. It’s a special legacy, and one that we value and cherish. If you’re thinking about your legacy and plan to include the Maritime Museum of BC in your estate, get in touch with Anya.
A conversation now helps us ensure your wishes are carried out in full.
Contact:
Anya Zanko
Development Manager
250-900-9148
azanko@mmbc.bc.ca
Sample Language
The Maritime Museum of British Columbia strongly recommends that you seek professional legal advice to ensure that your financial goals are considered, your tax situation is reviewed, and that your planned gift is tailored to your family circumstances. Consult with your lawyer or estate planner regarding the specific wording of any bequest.
The following are only samples to illustrate your many options in planning a bequest to the Museum. Make sure your lawyer or estate planner reviews any final wording in your will.
Specific, Unrestricted:
I give, devise and bequeath to the Maritime Museum of British Columbia located at 744 Douglas St, Victoria BC, V8W 3M6, with the charitable registration number 10808 8014 RR0001 the sum of $ ____________________.
Specific, Restricted with Escape Clause:
I give, devise and bequeath to the Maritime Museum of British Columbia located at 744 Douglas St, Victoria BC, V8W 3M6, with the charitable registration number 10808 8014 RR0001 the sum of $ ________ to be used for the following purpose(s): _____________________. If the Maritime Museum of British Columbia is unable to apply all or part of these funds for the specific purpose(s) stated herein, the balance of this bequest not so extended may be used for its general purposes.
General Percentage, Unrestricted:
I give, devise and bequeath to the Maritime Museum of British Columbia located at 744 Douglas St, Victoria BC, V8W 3M6, with the charitable registration number 10808 8014 RR0001 the sum of _______% of my estate to be used for its general purposes.
General Percentage Restricted with Escape Clause:
I give, devise and bequeath to the Maritime Museum of British Columbia located at 744 Douglas St, Victoria BC, V8W 3M6, with the charitable registration number 10808 8014 RR0001 the sum of ______% of my estate to be used for the following purpose(s): _______________________. If the Maritime Museum of British Columbia is unable to apply all or part of these funds for the specific purpose(s) stated herein, the balance of this bequest not so extended may be used for its general purposes.
Residual Contingent Trust:
Upon the death of the survivor of my (wife, husband, etc.) ______ and my (son, daughter, etc.) ________, I direct my trustee to transfer and deliver the balance of the residue of my Estate, including any undistributed income to the Maritime Museum of British Columbia $____________________ to be used for its general purposes.