Legacy Giving for Professional Advisors

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Help your clients build a lasting legacy gift with their planned giving donation

As a professional advisor, you play a critical role in wealth planning for your clients. That means you also have the power to help them achieve their charitable goals.

By partnering with Youth Assisting Youth, you can add value to your practice by showing your clients how to make their legacy a meaningful one that is invested in the leaders of tomorrow and helps at-risk youth succeed through the power of mentorship.

When you work with us, we’ll be by your side to make sure you feel equipped to comfortably talk with your clients about their philanthropy impact on Toronto and York Region communities.

Listening for Charitable Opportunities

A professional advisor can help clients realize their charitable objectives by listening for charitable giving opportunities, explaining options, and suggesting solutions.

Significant giving opportunities often arise when clients are making major business, personal, and financial decisions where the motivation isn’t just the cause, but also the benefits of giving. Community foundations can work with you and your client to recommend the best giving solution.

Following are some typical scenarios:

Year-end tax planning. Your client just earned a large bonus or received an inheritance and wants to give a portion back to the youth mentoring but has no time to decide on the most deserving charities. Recommend a donation for an immediate charitable tax credit.

Preserving an estate. Estate planning identifies significant taxes going to the Canada Revenue Agency, but your client wants to direct dollars for local youth to benefit. Youth Assisting Youth can work with you and your client to reduce their taxable estate through a charitable bequest or other planned gift.

• Sale or disposition of highly appreciated securities. Your client has appreciated stock or mutual funds and wants to use a portion of the gains for charitable giving. Your client receives a charitable tax credit on the full market value, while avoiding the capital gains tax that would otherwise arise from sale.

• Sale of a business. Your client owns highly appreciated securities in a company that is about to be acquired. We can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.

• Substantial RRIF assets. Your client has substantial assets in retirement accounts and wants to leave their estate to family and causes that support youth mental health and mentoring.

• Sale of real estate. Your client is interested in “downsizing” and simplifying life by selling secondary property. Charitable deductions tax credits will help offset capital gains taxes.

• Marking a milestone. Whether your client is celebrating a corporate anniversary, a personal milestone (such as a significant birthday, graduation or birth) or marking the passing of a loved one, naming a scholarship can be a fitting way to remember a particular person or time in your life.

Investing in the leaders of tomorrow and helping at-risk youth succeed through the power of mentorship

Together, we can gain a deeper understanding of your clients’ values that are driving their decisions to leave a legacy gift and recommend where it can make the most impact. Whether that be designated to operating costs, a scholarship, or a specific program.

Many people have an interest in creating a legacy, but they aren’t sure how to have that conversation or how they can achieve their goals. We have insight and experience in how philanthropy is a powerful force in our donors’ choices—and we know that creating a smart legacy plan draws on a wealth of considerations, from tax planning to providing for loved ones.

You can make a meaningful difference. Help your clients leave a lasting legacy and shape the future of kids.

If your client has left a legacy gift or is currently planning one, please let us know. We’d love to help. Contact Ed Carlson, Director of Development at 416-932-1919 x222.

Additional Information

Note to reader: The purpose of this publication is to provide general information, not to render legal advice. In addition, any changes in the tax structure may affect the examples listed in this information. Your client should consult their own lawyer or other professional advisor about the applicability of this information to their situation.