A WILL TO PROTECT
A Will to Protect Moraine Lands
Protecting the habitats and functions of open lands - like those of the Oak Ridges Moraine - may conjure up visions of protesters chained to trees. In reality, the greatest work happens in living rooms, board rooms, on paper - and, in the hearts of individuals like you.
Many of us imagine we have to be wealthy and incredibly influential in order to leave a legacy of protection. Nothing could be further from the truth. Every day, ordinary Canadians pledge support to charities and organizations they believe in as a part of their estate planning. You can too.
By looking now at contributions to family and charities, you may be able to reduce both personal and estate taxes.
A bequest to the Oak Ridges Moraine Land Trust ( registered charity # 87320 8920 ) results in a tax receipt that can be used to offset 100 per cent of the net income on your final tax return with excess amounts applied to taxes from the previous year.
The tax credit you receive for a gift of ecologically sensitive land or a conservation easement can be applied against up to 100 per cent of your annual taxable income, with excess amounts carried over for up to five years.
Use this calculator provided by the Canada Revenue Agency to see what your personal tax credit can amount to: http://www.cra-arc.gc.ca/chrts-gvng/dnrs/svngs/clmng1b2-eng.html
There are several ways to make a charitable bequest within your will which can be a simple and clear statement of your support.
- "I give to the Oak Ridges Moraine Land Trust, The Gatehouse, 13990 Dufferin Street North, King City Ontario L7B 1B3 ___ percent of the residue of my Estate for its charitable purposes of protecting significant lands of the Oak Ridges Moraine" ;
- "I give to the Oak Ridges Moraine Land Trust, The Gatehouse, 13990 Dufferin Street North, King City Ontario L7B the residue of my Estate for its charitable purposes of protecting significant lands of the Oak Ridges Moraine"
- "I give to the Oak Ridges Moraine Land Trust, The Gatehouse, 13990 Dufferin Street North, King City Ontario L7B 1B3 the sum of $______ (or a description of the property or asset ) for its charitable purposes of protecting significant lands of the Oak Ridges Moraine"
Directing your wishes now gives you the satisfaction and comfort of knowing that there will be no doubt or confusion about how you would like your estate, including lands and other assets, to be distributed.
Every legacy, no matter the size, is important. Bequests are personal matters. We certainly suggest you consult a professional before completing any estate plans.