Stewardship Services encourages everyone to have a Will and update it on a regular basis. Writing or changing your Will does not need to be an overwhelming task and can be done easily through one of our Radical Stewardship seminars or by visiting a legal professional in your area. When drafting or updating your Will you have an opportunity to create a legacy and further God’s Kingdom as a statement of your values and still provide for your family.
A legacy gift can be a designated specific dollar amount or a fixed percentage of your estate. Your estate will receive a charitable income tax receipt for the full value of the gift which will help to reduce the taxes to be paid by your estate upon your death. The amount that can be claimed on your final income return is 100% of your new income in the year of death and the preceding year.
If you wish to name multiple charities in your Will the Pentecostal Assemblies of Canada can help may this an easy process for your executors. You can name The Pentecostal Assemblies of Canada as the beneficiary and give direction for where the gift is to be distributed. This allows your executor to only deal with one charity rather than waiting on multiple release forms and income tax receipts from numerous charitable organizations. A benefit of simplified receipting.