Gift and Estate Planning
By leaving a gift in your will or through planned giving, you create a legacy of compassion and empowerment for those in need.
Explore the 3 avenues for planned giving: Publicly Traded Securities, Wills, and Life Insurance.
Publicly Traded Securities
A charitable gift of publicly traded securities is a donation made to Windmill in the form of stocks, bonds, or mutual fund units that are traded on public stock exchanges.
How it works
Identifying securities
Identify the publicly traded securities, such as stocks, bonds, or mutual funds that you wish to donate.Transfer to Windmill
The securities are transferred directly to Windmill electronically through a brokerage account.Valuation
The securities are valued based on their fair market value on the date of the transfer, determining the amount of the charitable deduction for tax purposes.
Benefits of Donating Publicly Traded Securities
Tax benefits
- Capital gains tax: You may avoid capital gains tax when donating appreciated securities and receive a charitable deduction for the full fair market value.
- Income tax deduction: You can claim a deduction for the fair market value of the donated securities, reducing your taxable income.
Simplicity and convenience
- No liquidation required: Donating securities avoids selling them first and saves time, effort, and transaction costs.
- Efficient transfer: Securities can be transferred electronically through a brokerage or financial institution.
Potential for increased giving
- Leverage appreciation: By donating appreciated securities, you may make a larger charitable contribution due to avoiding capital gains tax.
Note: Consult your financial or tax advisor to ensure that you maximize the potential tax advantages and align your charitable giving with your financial goals.
Download the form for instructions required to donate publicly traded securities to Windmill Microlending.
Download Form
Wills
A charitable gift in your will, known as a "bequest," designates a portion of your assets to be donated to a charitable organization upon your passing. This meaningful gesture supports causes you care about and leaves a lasting impact.
How it works
Designation
In your will, specify Windmill as a beneficiary and the amount or percentage of your estate you wish to donate.Types of bequests
- Specific bequest: Designate a specific amount of money or assets to Windmill.
- Residuary bequest: Designate a percentage or the remainder of your estate after expenses and other bequests.
- Contingent bequest: Designate a gift to Windmill under specific conditions, such as if other beneficiaries predecease you.
Charitable beneficiary
Windmill is recognized as a registered charity, making you eligible for tax benefits associated with your bequest.Executor
Your executor will work with Windmill to ensure your wishes are fulfilled according to your will.
Benefits of Leaving a Gift in Your Will
Philanthropic impact
Make a lasting contribution to Windmill’s mission, creating positive societal change.Tax benefits
In many jurisdictions, charitable bequests are tax-deductible, reducing estate tax liabilities and leaving more for your beneficiaries.Legacy and recognition
Leave a legacy that reflects your values and commitment to making a difference.Flexible and reversible
Bequests can be modified or revoked during your lifetime, providing flexibility.
Life Insurance
Consider designating Windmill as the beneficiary of a life insurance policy for a charitable gift. This profound gesture can transform lives for years to come.
How it works
Policy selection
Select an existing or new life insurance policy with the intent of benefiting Windmill.Naming Windmill as a beneficiary
Designate Windmill as the beneficiary by completing the appropriate forms with the insurance company.Payment of premiums
Continue paying premiums, which may be tax-deductible, depending on your jurisdiction and tax laws.Proceeds
Upon the policyholder’s passing, the life insurance benefit is paid directly to Windmill, providing a substantial gift.
Benefits of a Charitable Gift of Life Insurance
Large impact with smaller premiums
Make a significant gift with manageable premium payments.Tax benefits
- Charitable deductions: Depending on your jurisdiction, premiums paid may be tax-deductible.
- Estate tax benefits: In some cases, life insurance proceeds may not be subject to estate taxes.
Simplicity
Setting up and managing a charitable gift of life insurance is straightforward.Personal legacy
Leave a lasting legacy by supporting Windmill’s mission.Protection for loved ones
Ensure financial security for your family and loved ones while supporting Windmill.
Note: Work with a financial advisor or attorney experienced in estate planning and life insurance to ensure that your donation aligns with your objectives and maximizes the potential tax benefits.
Get in touch with us to discuss your gift and estate planning.
Email: [email protected]
Windmill Microlending is a registered Canadian charity
- Full Legal Name: Windmill Microlending
- Registration Number: 862367182RR0001
- Address: Suite 709, 7015 Macleod Trail SW, Calgary, AB T2H 2K6
Disclaimer
The information provided is intended for general informational purposes only and should not be construed as financial, legal, or tax advice. Consult with qualified professionals to ensure your charitable giving and estate planning align with your personal circumstances and objectives.