Donating Money to Charity in your Will

Leaving money to a charity after you pass away is a selfless act that has several benefits for the world you’ve left behind. There are many different causes you can opt for:

  • Animal charities
  • International NGOs, e.g. in the field of peace, human rights, development or conservation
  • Environmental charities
  • Health charities
  • Education charities
  • Arts and culture charities

TD Friends of the Environment Foundation

If you’re in Canada the TD Friends of the Environment Foundation can be a great choice. For one, it will go to a great cause that supports a spectrum of environmental projects, such as education, urban greening, biodiversity, and energy conservation.

The foundation spreads its money among its nearly forty chapters throughout Canada, so you know it will be making a far-reaching impact. For another, there are personal benefits for your family, as donating money to deductible from your estate before inheritance tax. Finally, it’s a wonderful way to be remembered—as an individual who cares about the Earth, the environment, and sustainability. Over $65 million has been disbursed through TD FEF to support 22,000 projects. You can become your own kind of hero by being among the nearly 150,000 donors.

How to do this?

So how does one go about leaving money to charity in your will? It is best to specify a fixed sum in your will that you’d like to donate or have your representatives know how you would like the funds distributed after you pass. Make sure that the organization of your choice is mentioned (either the foundation as a whole or your closest local chapter) clearly so there is no ambivalence or chance of misunderstanding. Broadly speaking, you may want a lawyer to look over your will to ensure that everything is valid and legal. You may also want to dedicate the donation in the memory of a loved one, in which case you will also want to specify that person and the dedication in the will itself, or tell them in person that you are doing it for them.

If you’re unsure how to write a will or are unable to seek paid legal advice, be aware that there are free services available to advise you on your way. You may also want to contact the charity of your choice directly in order to ask them what precise information is best to include in your will so your donation goes directly to the foundation after the rest of your estate has been distributed among your family and friends as you see fit.

This is your chance to make a tremendous difference in the future of the planet and help the future children of the world live safer, cleaner and better lives.