Almost everyone has a cause they hold dear, but many people aren’t aware they can leave a gift to charity regardless of their level of wealth.
“Every dollar you donate to the Mental Health Foundation of Nova Scotia will help increase mental health programs and services in communities throughout the province,” says Starr Cunningham, President & CEO. “No matter the amount you can make a difference and leave a legacy and a lasting gift.”
Leave a Legacy Month is celebrated each May and is a wonderful opportunity to plan how you can leave a Planned Gift to a charity that is important to you. The program is promoted by the Canadian Association of Gift Planners and encourages donors to work with their financial advisor, lawyer, and/or chosen charity to establish a Planned Gift that best suits their financial situation.
“In the charitable giving world, we use the term Planned Giving to mean a gift that someone will make at their death,” says Estates and Trusts Lawyer Cather Watson-Coles. “A really common way is to use your will as a tool to leave a gift to a charity. In your will, it’s very easy to leave a percentage of your estate or a dollar amount to a charity that you care about.”
At the Mental Health Foundation of Nova Scotia, the Planned Giving Strategy was guided by support from Foundation Trustee and Lawyer Catherine Watson Coles. Watson Coles specializes in estates and trusts law and is the leader of McInnes Cooper’s regional Estates and Trusts Service Group.
“Any Nova Scotian in doing their will can leave a percentage of what they have to a charity that they care about. It’s not dependent on wealth that is available to anyone,” says Watson Coles. “You don’t have to choose between your family members and a charity. There are ways to distribute assets that will take care of everyone and still permit you to leave to charity.”
At the Mental Health Foundation of Nova Scotia, we are privileged to discuss the importance of mental health with our donors every day. They share a passion for eradicating the stigma surrounding mental illness and addiction and shaping a future where mental health support is readily accessible in communities throughout the province. It’s incredibly meaningful to help them realize their philanthropic goals while providing them the financial benefits of donating to charity.
“The Government of Canada has very generous donation tax credits,” says Watson Coles. “They are designed to encourage philanthropic giving, and upon death they are even more generous than during life so there’s lots of ability to do some good tax planning while you are leaving to the charities you care about like the Mental Health Foundation of Nova Scotia.”
We know that many other Nova Scotians share the Foundation’s vision of a future where our cousins, co-workers, clients, and loved ones are thriving in their own communities and living healthy, successful lives despite their mental health diagnosis. We hope many more people share the same vision for the future of our society and feel confident that the Mental Health Foundation of Nova Scotia will provide a sound investment for their legacy.