Create a wonderful legacy by leaving a gift in your will to Jackson School of the Arts and make a significant and lasting benefit for the children of tomorrow. A bequest (planned gift) is an easy and effective way to reduce or even eliminate your final income taxes while maintaining financial security during your life.
As everyone’s situation is unique, Jackson School of the Arts encourages individuals to consult with their financial and legal advisors to gain independent advice that works for their personal financial situation.
Gifts of Securities
Gifts of securities is an effective way to donate to Jackson School of the Arts. As a rule, Jackson School of the Arts accepts gifts of publicly traded securities and on a case by case basis, will consider gifts of privately held shares. Gifting securities provides you with a tax advantage to eliminate capital gains tax on the gift of appreciated securities.
As per CRA ruling, in order to activate tax free appreciation of securities, your donation of shares must be transferred through your broker to Jackson School of the Arts’s broker.
This solution helps you avoid any possible capital gains taxes on those particular shares as opposed to selling the shares yourself and then donating the funds via check or other payment method. (Read this short piece for more on how this works)
If you are interested in donating with this method, please read through our instructions for working with our broker. For further information regarding a gift of securities to Jackson School of the Arts, please contact us.
Gift in a Will
For many, the simplest way to make a significant future gift to Jackson School of the Arts is through their estate. A gift in your will allows Jackson School of the Arts to benefit from your legacy and to continue delivering high-quality arts education programs to young people in your own community. Please consider leaving a percentage or a specific amount through your estate as your legacy commitment to Jackson School of the Arts.
With a gift in your will, it is important to ensure your gift will be directed as you wish, and using the wording below will be helpful in providing a clear understanding of your intent.
If you already have a current (less than 5 years) will in place and there have been no significant changes in your life, then it may not be necessary to rewrite your will. It may be as simple as having your lawyer add an additional clause (known as a codicil) to your will. Using the sample language below may greatly assist your lawyer in drafting the codicil or will on your behalf.