Legacy giving involves important and sometimes complicated decisions. MCC staff in our provincial offices have many years of experience helping our generous supporters align their own, deeply-held beliefs, values and priorities with the work of MCC. We will be happy to help you explore how a planned gift to MCC might fit in with your life plan!
Two of the most popular vehicles for legacy giving are cash and property.
Gifts of cash
Perhaps you are considering leaving a gift the way many Canadians choose—a bequest of a stated sum of money. Leaving a gift of cash in your will becomes a gift from your estate and is processed by your executor after you pass away. Most often it is the simplest option.
A gift of cash to MCC tells a story about you, providing a testament to your values. There are some practical considerations to leaving a legacy gift of cash:
- There are no costs to you during your lifetime.
- You can identify the amount that suits you, representing either a specific dollar amount or a percentage form of calculation.
- It is an effective way to reduce the tax bill on your estate.
- All cash legacy gifts to MCC make a meaningful impact.
All funds received through cash legacy gifts are used for MCC programming in areas where they’re most needed at the time.
Gifts of property
Perhaps you have a real estate asset you’d prefer to donate to a charitable organization rather than turn into cash. You can arrange for the gift to MCC and receive a tax benefit during your lifetime while continuing to use the property until you pass away. Alternatively, property can be described and left in your will. A charitable tax receipt will be provided at fair market value at the time the property is transferred.
Leaving a gift of property to MCC tells a story about you, providing a testament to your values. There are some practical considerations to leaving a legacy gift of property:
- A potential income tax charitable deduction for fair market value could be realized by you while the full value of your gift can be used by MCC.
- A gift of property does not have to be real estate. Other gifts-in-kind can be considered, such as other forms of personal property, art objects, jewelry items, intellectual property and cultural property items.
- Unfortunately, gifts of foreign real estate cannot be accepted, and MCC must retain the right to refuse a gift, particularly if there are unacceptable liabilities attached to the gift.
- All legacy gifts of property to MCC make a meaningful impact.
All funds received through legacy gifts of property are used for MCC programming in areas where they’re most needed at the time.