Looking back on life well lived, people often reflect on the time spent with friends and family, the achievements along the way and the difference he or she made in their community. The difference made can have much to do with the time spent in various volunteer roles, but it can also mean achieving certain monetary gifts or even a lasting legacy. Are you passionate about certain causes, groups or spiritual communities? Are you passionate about the importance of giving back and being in service to others?

If so, charitable giving can be an important part of your financial planning goals. You will want to ensure that your givings are in alignment with your goals. You may want to compare your annual givings to other annual expenses, so as to put your annual givings into context. You may want to set certain annual goals or 3, 5 or 10 year goals for total givings. You may wish to set up a specific plan in your Will. You may also wish to establish a donor advised fund that enables you and your family to provide a lasting gift in perpetuity. A family controlled donor advised fund is a powerful way for families to work together, share ideas and plan their annual givings as a family.

The Nelson group has established a relationship with Canada Gives , a registered charity in Canada. Nelson Portfolio Management Corp is the portfolio manager for a donor advised fund called Canada Gives – Nelson Charitable Foundation. Through this foundation, Nelson Portfolio Management Corp. can help other Nelson Portfolio Management Corp. clients donate shares to the Canada Gives – Nelson Charitable Foundation and then distribute these proceeds to the client’s charity of choice. Nelson Portfolio Management Corp. can also assist in the establishment of, and provide portfolio management services to, a client specific family foundation donor advised fund. It can be a very powerful strategy to donate a larger sum of money, during a year when the client has sold an asset, such as a cottage, farm land or business, and receive a larger charitable donation receipt so as to help offset some of the capital gains taxes incurred in that year.

There are many ways where a charitable giving strategy can be advantageous, both in terms of your goals as a family, but also in terms of effective financial planning and estate planning. We are happy to discuss and explore different ways for you to implement your charitable giving interests into your financial plan (Nelson Financial Planning Corp.), your portfolio (Nelson Portfolio Management Corp.) and through your insurance, Will and estate planning strategy (Nelson Insurance Services Corp.).

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