Create a Legacy at Knowledge
“The greatest thing this generation can do is to lay a few stepping-stones for the next generation.”
Charles F. Kettering
You don't have to be wealthy to create a legacy.
Your gift – regardless of size –translates into hours of joy and fascination, education and entertainment for future generations, for years to come. What a thoughtful gift! Read on and discover how you can create a legacy at Knowledge.
Meet Our Legacy Partners
We think the best people to talk about our Legacy program are our Legacy Circle Partners themselves.
Please take a moment to enjoy their stories.
Creating your legacy
Your legacy is how you will be remembered. Creating it does require some planning – however, it may be easier than you think.
Legacy gifts come in all shapes and sizes. They are a meaningful reflection and expression of one’s values during life. Plus, they can reduce income tax during our lifetime or through our estate. And yet, for many of us, we don’t take the time to do anything about it.
As you will have learned from our stories, most of our Legacy Circle Partners have included a gift to Knowledge in their will. Some have named Knowledge as a beneficiary on a RRSP or other registered fund, a life insurance policy or trust. Others have chosen different ways to incorporate a gift in their estate or financial plans.
We know how personal and important these decisions are and, at all times, will respect your privacy. Therefore, any enquiry or conversation you have with us will be held in the strictest confidence.
For more information, please review our brochure, browse through the types of legacy gifts below or contact us to request a copy of
“A Guide to Your Will”, a workbook for estate planning.
Types of Legacy Gifts
Leaving us a gift in your will is a great way to provide countless hours of enjoyment, education and entertainment to future generations!
These gifts are added to the Knowledge Endowment Fund. This money is invested wisely and a percentage of the annual income is used to continue our work. This way, your gift will keep on giving for generations to come. You’ll also be joining other Knowledge Partners who are proud to be part of our Legacy Circle.
Once you have looked after your loved ones, why not consider creating a legacy through a gift in your will to Knowledge Network?
When creating or updating your will, you can include a gift to your favourite charity or charities. This type of gift is also known as a bequest and will result in a donation receipt (tax credit) which can reduce the income tax payable on your estate.
Please download the PDF to get started.
Donating through life insurance policies can help you to make a sizeable gift to Knowledge at a manageable cost.
There are a number of ways to use life insurance when planning your charitable giving. For example, if you have a paid-up life insurance policy that has outlived its original purpose, but still has value – you can donate it to Knowledge and receive a tax receipt and benefit right away.
Or, you can set up a new life insurance policy, naming Knowledge as a beneficiary. Then choose whether to benefit from the tax savings during your lifetime, or use it to reduce income tax payable on your estate.
So, lots of choices to consider. If you are interested in finding out how you can use life insurance to support Knowledge, please download the pdf for more information.
Did you know that you can designate Knowledge as a beneficiary, or part beneficiary, of your RRSP or RRIF? It’s a wonderful no-cost option to create a legacy gift– especially when compared to making a gift through your will – as there are no fees involved and it’s entirely flexible, so you can change your mind at any time.
Did you know that if you don’t have a spouse or any dependents when you die, all of the money in your registered retirement plans will be subject to income tax through your estate? In fact, in Canada, this is the most highly-taxed method of passing along your money to your loved ones!
However, if you’re looking for a no-cost, easy way to create a lasting legacy at Knowledge, this could be the perfect solution.
Interested in finding out how you can do this? Please download the PDF for more information.
If you own publicly-listed securities that have increased in value and are thinking about your next donation to Knowledge, did you know you can reduce your tax bill by choosing to donate securities rather than cash?
Why? Normally, when you cash in publicly-listed securities, you have to include half of the capital gain (the increase in value since you purchased them) in your income on your tax return – and then pay income tax on this amount. However, if you donate the securities, you completely avoid this additional tax.
You will also receive a tax receipt for the full value of the securities which can be used to lower your income tax payable. So, Knowledge will benefit from your generosity and you will pay less tax.
To donate securities, please use this Gift of Securities Donation Form or download the PDF to learn a little more about how you could benefit from this type of gift.
Did you know that Knowledge welcomes all kinds of gifts including real estate, art and jewellery?
Now, we won’t always keep them. In fact, when we receive them, we usually sell them, and then use the cash to support Knowledge in providing world-class programming for British Columbians to enjoy.
Or perhaps you have an unwanted car, boat, recreational vehicle or motorbike? Knowledge has partnered with organizations that will pick up or tow away these items –at no cost to you – and you will receive a tax receipt for its assigned value. Click here to learn more.
So, if you have property you no longer need, perhaps receiving a tax receipt for the fair market value of this donation might make financial sense. Just to clarify, we do reserve the right to turn down items that we cannot sell, or use to support our work. However, we’re happy to hear from you if you think you may have a gift of property that fits the bill.
Want to learn more about supporting Knowledge through a gift of property, please download the PDF to get started.
Through a charitable remainder trust you can donate an asset to Knowledge (e.g. cash or other property) get a tax receipt that provides immediate tax savings, yet still receive the income from the asset for life or a specified number of years, after which Knowledge receives whatever remains in the trust (when the ownership is transferred to Knowledge).
This type of gift is worth exploring if you have a large asset that you wish to donate to benefit Knowledge in the future. There are costs and fees involved in establishing and maintaining the trust, so this is something you should discuss with your professional advisors.
Knowledge has received this type of gift in the past and is more than willing to work with you and your advisors to set this up.
If you are interested in finding out more information about using a charitable trust to support Knowledge, please download PDF to get started.
A charitable annuity is often called the “gift that gives back’ because, once established, you will have made a donation and still receive payments for the rest of your life.
To set one up, you provide a sum of money to an advisor who purchases an annuity from an insurance company and you donate a minimum of 25% of this sum to Knowledge. Because annuities offer options regarding beneficiaries and term (life or a number of years) you should check with your advisor to see if it’s the most appropriate charitable gift for you. In general, this type of gift is worth exploring if you:
- are 70 years of age, or older
- like the assurance of receiving regular payments for the rest of your life unaffected by changes in the economy or interest rates
- would like to make a substantial gift to Knowledge Network and are in a financial position to purchase an annuity.
If you are interested in finding out how you can use e a charitable annuity to support Knowledge, please download the PDF to get started.