WILLS
Dispelling 5 Common Myths about Wills
K
eep your loved ones close—and take nothing for granted.
Those are among the heartfelt values now guiding baby Mary’s parents following a terrifying ordeal that saw the newborn girl face a battle for life at birth. Fortunately, the family was in the skilled hands of the neonatal intensive care department at BC Women’s Hospital that was supported by the generosity of donors to the TB Vets Charitable Foundation. A year ago, Mary’s mother Amy underwent an emergency C-section after being rushed to hospital following an ultrasound. Mary was diagnosed with severe hydrops, a life-threatening buildup of fluids in her lungs and chest cavity. Many newborns with that condition do not survive. After Mary’s birth, the medical team started their lifesaving work to drain the fluid. Inside an incubator, Mary was intravenously given antibiotics, fentanyl, and food. She was placed on the highest level of jet ventilator, meant to provide the most fragile newborns with a gentle and effective mode of ventilation. Taking the situation day by day, Mary’s mom couldn’t help but Volume 30, Number 3, Winter 2021
notice that the specialized ventilator helping Mary breathe had been purchased with help from TB Vets’ donors. Among those donations was a legacy gift left in a donor’s Will. Leaving a gift in a Will is a powerful act of generosity that can make a world of difference for charities. It is also a form of philanthropy that people may not realize is within their capacity to make. According to research, there are five common myths about gifts in Wills. Myth: I can’t support loved ones and my favourite causes. Truth: A quick calculation can demonstrate that a small percentage of the estate left to charity still leaves plenty to support the loved ones. Myth: I need to be wealthy to make a gift to charity in my Will. Truth: Most charitable gifts in Wills are left by Canadians of average means and a charitable gift in a Will can go a long way toward reducing the amount of taxes on the estate. Myth: Leaving a gift in a Will is complicated. Truth: Leaving a gift to charity in the estate can be as easy as adding a clause to a Will. A BC Notary or a lawyer can take care of that task. The Scrivener | www.bcnotaryassociation.ca
Jason Howe
Leaving a gift in a Will is a powerful act of generosity that can make a world of difference for charities. It is also a form of philanthropy that people may not realize is within their capacity to make.
Myth: I’ve already written my Will and there is no going back. Truth: A Will can be amended at any time. Myth: I will not see the impact of the gift I make in my Will. Truth: Most people will never be able to make as big a gift during their lifetime as they can in their Will, when the value of the estate is realized. But it is possible to see the impact of your future gift through stories like Mary’s. Mary stayed on that donor-funded ventilator for a week before she graduated to other forms of breathing assistance and eventually to breathing on her own. TABLE OF CONTENTS
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