Planned and Legacy Giving
A donor can support Aga Khan Foundation Canada (AKFC) by transferring a specific asset or a percentage of their estate through their will. The gift is transferred to AKFC after the donor’s passing.
Leaving a gift through a will is by far the most common legacy gift in Canada. Typically, a gift is made by naming the AKFC as a beneficiary in your will, either by giving a percentage of the residue of your estate, a specific dollar amount, or a gift in kind (specific asset) to AKFC.
Why leave a gift through will or trust to AKFC?
- Ownership and Use: You retain ownership and use of your assets during your lifetime.
- Flexibility: Your gift can be made for any amount that fulfills your charitable intentions.
- Tax Benefits: Your estate receives an official charitable tax receipt for the full value of the bequest.
- Adaptability: You can adjust the provisions in your will or trust at any time to meet your needs during your lifetime.
Please speak to your financial and legal advisors if you wish to establish a trust as a vehicle for charitable giving. They can also provide you with guidance if you have already established a trust and wish to leave a gift to AKFC through your trust.
Aga Khan Foundation takes an intergenerational, community-driven approach, partnering directly with people like this farmer and his family in the Kyrgyz Republic. Through a small business development program, AKF helped support the construction of their cowshed to help protect livestock during the cold winter months. Credit: Christopher Wilton-Steer / AKF
How to leave a gift to AKFC through will or trust
Leaving a gift to AKFC through your will is a relatively straightforward process.
After consulting your family and discussing with your legal and financial advisors, determine what kind of gift you would like to leave to AKFC. Then, ask your advisors to include a provision in your will that creates a gift to AKFC. Any gift to a beneficiary of your will, whether AKFC or otherwise, will be given after all of the estate’s liabilities have been satisfied (e.g., debts, taxes, etc).
Please speak to your financial and legal advisors if you wish to establish a trust as a vehicle for charitable giving. Your financial and legal advisors can also provide you with guidance if you have already established a trust and wish to leave a gift through AKFC through your trust. Given the complexity of establishing a living trust, please consult your financial advisor.
Other considerations
Any decision you make with respect to giving a gift to AKFC in your will as part of your planned and legacy giving should be made in consultation with your financial advisor, tax advisor, and legal advisor.
Donors should also take the necessary steps to ensure that they have made adequate provision for their family, heirs, and other individuals requiring support after their demise.
We would welcome the opportunity to work with you, your family and your advisors if you wish to support AKFC through a gift in your will. We encourage you to engage in a discussion with us prior to finalizing your gift, to ensure that it is a gift that AKFC can accept as a Canadian charitable organization. From time to time, AKFC may have to decline gifts that are made without prior consultation.
Different types of gifts can be made through a will
Residual Gift
A gift of a percentage of the residue of your estate to AKFC
Sample Language: “I give ____ percent of the residue of my estate to Aga Khan Foundation Canada (Canadian Registered Charity B/N 10007 2586 RR0001) (“AKFC”) for the purpose of supporting the highest priority needs as determined by AKFC.
Specific Gift (Dollar Amount)
A gift of a specific dollar amount to AKFC.
Sample Language: “I give $____ (CAD) to Aga Khan Foundation Canada (Canadian Registered Charity B/N 10007 2586 RR0001)) (“AKFC”) for the purpose of supporting the highest priority needs as determined by AKFC.
Gift in Kind (Specific Asset)
A gift that transfers a specific asset, such as parcel of real property or publicly traded securities, to AKFC.
If you wish to give a specific asset to AKFC, we encourage you to have a prior discussion with us to ensure that it is a gift that AKFC can accept as a Canadian charitable organization. We can provide you with specific language befitting of the asset you wish to gift to the AKFC.
