Legacy Gift FAQ’s
Even though legacy giving has been around for centuries, it’s only in recent years that Canadian charities have started promoting it as a form of charitable giving. Here are some frequently asked questions about legacy giving and how it will affect CODE.
What is legacy giving?
Legacy giving means giving of your assets instead of your disposable cash. A legacy gift could include things like giving stocks, an RSP, or a life insurance policy. The most popular type of giving is through a bequest.
What if I change my mind?
That’s why providing for CODE in a will is the most popular method of legacy giving. It doesn’t cost a cent during your lifetime when you may need the money and you can change your mind at any time about the bequest. You can change your will or simply add a codicil to your will indicating the change in your wishes.
What is a codicil?
It’s a piece of paper attached to your will that outlines the changes you’d like to make in the settling of your estate. It should be properly dated and witnessed by two people who will not benefit from the change.
How will my legacy gift make a difference to CODE?
Donations from generous Canadians allow CODE to promote reading and writing to primary school aged children in developing countries by:
- providing books and other learning and teaching materials;
- creating and supporting libraries and reading rooms;
- publishing books in local languages of young readers; and
- training teachers in effective methods of teaching children to read.
How much of my bequest will be used overseas in CODE’s programs?
A full 100 percent of your bequest will support literacy in developing countries. CODE takes no administration fees from bequests.
Will my bequest to CODE produce a charitable tax receipt?
As a registered charity, CODE will provide a charitable tax receipt. Depending on your circumstances, the receipt can help to offset taxes on your estate, and not take anything away from your heirs.
If it’s so easy, why does CODE recommend seeking professional advice?
Everyone’s circumstances are different, and laws change from time to time. A financial or legal advisor can give you the best advice for your particular situation. The small amount of money it will cost will provide you with invaluable peace of mind that your affairs have been settled.
Why does CODE advise donors to let them know when they’ve been included in an estate?
We’d like to thank you. We know that a bequest to CODE’s work reflects the values of your lifetime and we wish to honour the compliment paid to us.
What is CODE’s legal name?
Our legal name is CODE. We used to be known as the Canadian Organization for Development through Education.
321 Chapel Street
Ottawa ON K1N 7Z2
Registered charitable tax # 11883 4878 RR0001