Introducing you to Generational Giving
May is Legacy Month – who knew that was even a thing? We don’t often talk about what leaving a gift that represents your values and what your lifetime has looked like. We thought “Legacy Month” would be an excellent opportunity to bring the conversation to our RAVEN community.
The transfer of wealth that will take place in the next generation has a huge potential to fund Indigenous-led legal cases. These cases are an innovative and effective way to curtail unsustainable industrial development, drive systemic change, and continue the work of building toward decolonization and reconciliation.
Indigenous values and principles that guide decision-making include long-term perspectives that consider the well-being of future generations. And as an alliance of Indigenous Peoples and settlers who are all working through the issues raised by colonization, choosing to give back as we leave this time on earth deepens the commitment to reparation, and can help strengthen Indigenous-led legal actions aimed at lasting, positive change.
If you are one of the dozens of people that have already named RAVEN in your will, please tell us. We want to celebrate your generous gift with you!
What is Generational Giving?
Generational giving, legacy, or planned giving, is when you leave a portion of your estate in your will to your favourite charity. It sounds fairly straightforward, right? But: what is your first thought when you read that sentence? Perhaps it’s “I don’t have anything to leave.” Or maybe “Estate? Will? Who even has an estate? I don’t need a will.” Or are you among those planned givers who have established wealth with a will in place? It seems to be one or the other without many in between. And in truth, in the world of fundraising, this is an awkward conversation that is often avoided because — let’s face it — we prefer to focus on our time alive on terra firma, rather than under it.
This is a time in history when we can shift our beliefs around how we can make an impact that extends beyond one lifetime. No matter what your financial position, I think you would be surprised at the difference you can make! A common myth about wills is that you need a lot of money or property to have one. If you are younger or maybe less financially established, the thought of having a will might seem like one of those things you will do eventually. But I encourage you to think beyond your current reality.
We’ve seen the impact legacy gifts have on Indigenous communities that are standing up to industry and governments in the courts. Long term support helps reshape the future and contributes to making a country that is equitable, and where the caretaker values of Indigenous Peoples are enshrined in law. It is important to realize that we all can make a massive impact to create the future we want: regardless of our age or bank balance.
We don’t have to leave legacy giving to other people. That’s why RAVEN is calling this form of giving “Generational Giving”. Let’s change the perception and intent behind these gifts. Let’s centre the rights of Indigenous Peoples in our generational transfer of wealth. I propose we reframe the paradigm and think of Generational Giving as planting seeds for the next seven generations.
By creating a will and leaving a portion (say 5%) to RAVEN today, it is sowing the seeds for the rights of Indigenous Peoples to flourish well into the future.
How to leave a Generational Gift to RAVEN
A gift in your will (bequest)
A will is an easy, cost-effective way to ensure that your final wishes are respected. A bequest is a gift from your estate and it will reduce your estate taxes. You can give as much or as little as you want and you can always change your mind.
A residual gift in your will means you leave a percentage of what’s left of your estate to RAVEN after you take care of your loved ones.
Suggested sample wording:
I give to RAVEN (Respecting Aboriginal Values & Environmental Needs), Canadian Charitable Tax # 85484 0147 RR0001 , ____% of the residue of my estate.
You can designate a specific dollar amount or a specific piece of property, such as a home or securities.
Suggested sample wording:
I give to RAVEN (Respecting Aboriginal Values & Environmental Needs), Canadian Charitable Tax # 85484 0147 RR0001 the sum of $_______ .
Life insurance or retirement plan
You can designate RAVEN as the owner or beneficiary of your life insurance policy or of your retirement plan. Simply contact your retirement plan administrator or life insurance company and complete the appropriate beneficiary designation form.
The information provided by RAVEN is not intended as a substitute for professional financial or legal advice. We strongly advise you to consult a lawyer and/or financial advisor to determine which options are best for you and your family, and to maximize the tax advantages of your gift.
If you are interested to learn more about how you can name RAVEN in your will or what the potential impact of such a gift would be, reach out by filling out this form.