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September/October 2022 - ENTREPRENEUR OF THE YEAR

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

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C R E A T E A L E G A C Y an active role for them? Do your interests and values align, and if so, how should the gift be structured?" The Jewish Community Foundation has unique knowledge of the local, national and international Jewish community and can assist donors in support of the community as well as organizations outside of the Jewish community in areas like health and education. Her team's approach to legacy planning is to facilitate conversations about donors' philanthropic objectives and what they hope to accomplish. "We can help them think about the possibilities and various gift vehicles to inform their discussion with their advisor," she says. "We also facilitate family conversations, which are sometimes challenging for families to do on their own. This assists them in identifying their shared values and interests." Flom recommends working with a professional that takes the time to understand your goals in order to establish the best type of fund that will serve your needs in perpetuity. "Your legacy will continue well after you're gone, supporting the organizations or areas of interest that are important to you," she says. "Community needs change—the Jewish Community Foundation can help build in the flexibility to ensure that your overall charitable objectives are realized even when the landscape changes." IN-HOUSE LEGACY PLANNING PROFESSIONALS Burnaby Hospital Foundation has professional staff and a community of volunteer professionals, including lawyers, accountants, financial planners, and notaries, who can discuss your specific circumstances about estate planning. "An exciting new addition this year, Burnaby Hospital Foundation has joined Will Power, a national public education campaign to inspire people to think differently about charitable giving," James says. "By raising awareness and educating the public, Will Power aims to increase the number of Canadians contributing a portion of their will to charity, which can result in more funds contributed to supporting causes we all care about." Variety BC has partnered with Willfora, a free resource to help make creating or updating a will easier than ever. Willfora allows you to create a legal will online in 20-minutes or less, at no cost to you. "This way, you can take care of those you love, while helping create a future where special needs kids in BC are thriving, achieving their full potential and having their needs met every single day," Shang says. Hilary Beard, director, gifts and estate planning at BC Children's Hospital Foundation (BCCHF), says BCCHF collaborates with top advisors to periodically offer estate planning education free of charge. "It is our way of giving back to those whose support is deeply appreciated," she says. Based on insights from estate administration, Beard's top three tips for legacy planning would start with engaging the services of professionals who have a track record of estate planning. "They can give you advice on various options, which take care of your family and navigate any difficult circumstances you may foresee," she says. "Next, when you look at your current or anticipated wealth, think about the joy you could experience today by giving to make a difference, and the tax benefits now that need not be stored up for later." Finally, she recommends telling your charity in advance. "Our greatest joy is to say thank you when we can," Beard says. "It is best summed up in the words of our Legacy Circle member who wrote to us after our recent appreciation tea: '… I could feel and hear in their [hospital team] voices the love that they have for each child… absolutely heartwarming, tears came to my eyes. Thank you for sharing this beautiful time with me.'" Learn more: Vancouver Foundation |vancouverfoundation.ca BC Children's Hospital Foundation |bcchf.ca Burnaby Hospital Foundation |bhfoundation.ca/legacy Jewish Community Foundation |jewishcommunityfoundation.com Variety BC - variety.bc.ca/donate- now/planned-giving PHOTO: BC CHILDREN'S HOSPITAL

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