Will Power
Give gifts to your family and your causes after your death
How much of your estate can you give the causes you care about without harming your heirs? 1%? 5%? 10%?
Will Power is a national initiative to help Canadians understand and act.
You'll find many resources at willpower.ca:
explore the library of donor stories and estate planning resources
find charities by cause, location or keyword
prepare or update your Will to include charitable gifts: list of estate lawyers and self-service options
At Taxevity, we're participating in this national initiative. Learn about giving.
Why Give Through Your Will
Life insurance death benefits generally bypass your Will, which has several advantages:
Skip the costs and delays of the probate process
Creditor protection is possible
Privacy
Quick cash (e.g., to pay taxes): the death benefit is paid in days or weeks of the claim information being provided
Why Bypass Your Will
Life insurance death benefits generally bypass your Will, which has several advantages:
Skip the costs and delays of the probate process
Creditor protection is possible
Privacy
Quick cash (e.g., to pay taxes): the death benefit is paid in days or weeks of the claim information being provided
How To Use The Death Benefit
The life insurance death benefit can be used in different ways:
Donate some or all to charities or your Donor-Advised Fund
Make charities or your Donor-Advised Fund a contingent beneficiary: receives the death benefit if your primary beneficiaries die before you
Pay the taxes arising from other gifts: RRSPs, RRIFs and segregated funds can go directly to beneficiaries you pick but your estate is responsible for the tax bill
