If wishes are not recorded in a person’s Will, gifts to beneficiaries and charities may not be fulfilled, explains Joyce Lee, a tax planning lawyer and passionate supporter of BC Children’s Hospital. Further, if a donation is not contained in the Will, the charity cannot issue a charitable tax receipt.

If wishes are not recorded in a person’s Will, gifts to beneficiaries and charities may not be fulfilled, explains Joyce Lee, a tax planning lawyer and passionate supporter of BC Children’s Hospital. Further, if a donation is not contained in the Will, the charity cannot issue a charitable tax receipt.

The Power of Your Will

A gift in your Will shows remarkable foresight for your community

Did you know that a legacy gift in your Will can extend your values far into the future? What if you can help lead progress in pediatric health for generations of kids across BC?

A gift in your Will shows remarkable foresight for your community, and at BC Children’s Hospital Foundation, we like to recognize legacy donors in a special way – as members of our Legacy Circle. It is an amazing group of individuals like you whose generosity is creating new possibilities for the future of care for our kids.

As an important member, we would ensure you have opportunities to learn about cutting-edge research, hear from families transformed by your generosity, and learn tax and estate planning tips. Most importantly, it allows us to express our gratitude for your gift.

To help you plan your legacy through a gift in your Will, we are sharing an interview with Joyce Lee Q.C., a tax planning lawyer and long-time member of our Chinese-Canadian Planned Gift Committee.

Q&A with our Tax Planning Lawyer

Joyce is a partner at Deloitte Legal Canada LLP, wife and mother to two teenage daughters, and is passionate about BC Children’s.

Q: Why create a Will? What does it avoid?

A: A Will avoids additional time, expense and confusion to family members when they have to decide who will take responsibility for the administration of the estate. Otherwise, the administrator needs to do the extra step of getting consensus from family members and applying to the Court for approval to act.

Q: Why is it important to create a Will when you are healthy?

A: An estate plan will evolve with changes in a person’s life and often takes time and a clear mind to settle. It is best not to leave the planning until a critical event has occurred. We cannot predict health and capacity issues, which can arise unexpectedly.

Q: Are there other documents that would be helpful to have crafted at the same time?

A: Powers of attorney and representation agreements should be discussed at the same time as a Will. These cover financial and health situations, and more.

Q: Why should you not leave everything to one person and trust them to distribute your estate using instructions NOT in the Will?

A: If one’s wishes are not recorded in their Will, there is no accountability to the rightful beneficiaries, leaving a high risk that gifts to beneficiaries and charities will not be fulfilled. And, if a donation is not contained in the Will, the charity cannot issue a charitable tax receipt.

Update your Will at different stages of life – so that nothing, and no one, is missed.

How have your assets and circumstances changed? Consider updating your Will and including a gift to your favourite charity, ensuring your values continue forward. Avoid confusion by listing the charity’s legal name and CRA registration number.

The Power of Your Will

Estate planningFamiliesHealth and wellness

Just Posted

Police say that a U-Haul truck abandoned in Cache Creek on Jan. 19 (pictured) was being used to transport equipment and supplies consistent with a fentanyl drug production operation. (Photo credit: Barbara Roden)
Rental truck abandoned in Cache Creek believed to be connected with fentanyl drug production

Police seized high end equipment, chemicals, and several firearms

A COVID-19 outbreak has been identified at Unit 6 South at Royal Inland Hospital in Kamloops, with four dozen people testing positive and one person dead as a result. (Photo credit: Dave Eagles/Kamloops This Week)
COVID-19 outbreak declared at Kamloops’ Royal Inland Hospital surgical unit

Despite 6 South being a surgical unit, RIH said surgeries are continuing at the hospital

Flooding at Cache Creek park, July 2, 2020. The village is seeking $2.45 million in grant funding to safeguard its drinking water infrastructure against future flood events. (Photo credit: Tom Moe)
Cache Creek seeks $2.45 million for drinking water infrastructure

Grant funding would protect village’s drinking water infrastructure from flood threats

A new all-ages playground and a large canopy for outdoor gatherings (r) at Kumsheen K–12 school in Lytton. (Photo credit: School District No. 74)
Lytton students all under the same roof at newly-renovated school

Kumsheen Secondary has now been converted into a K–12 facility for 125 students

Craig Lebleau is the star of <em>Mud Mountain Haulers</em>, along with his family and Kamloops-based company Lebleau Brothers Haulers. (Photo credit: Submitted)
New TV show filmed in region shines a light on forest industry

Mud Mountain Haulers, featuring Lebeau Brothers Logging in Kamloops, no airing on Discovery Channel

Dr. Penny Ballem, a former deputy health minister, discusses her role in leading B.C.’s COVID-19 vaccination program, at the B.C. legislature, Jan. 22, 2021. (B.C. government)
B.C. holds steady with 407 new COVID-19 cases Tuesday

14 deaths, no new outbreaks in the health care system

(Kraft Dinner/Twitter)
Kraft Dinner launches candy-flavoured mac and cheese just in time for Valentine’s Day

Sweet and cheesy treat will be here just in time for the cheesiest holiday of the year

SAR crews worked late into the night Tuesday to rescue an injured snowboarder in North Vancouver. (Facebook/North Shore Rescue)
Complicated, dangerous rescue saves man in avalanche near Cypress Mountain

North Shore SAR team braves considerable conditions to reach injured snowboarder

A Cessna 170 airplane similar to the one pictured above is reported to be missing off the waters between Victoria and Washington State. Twitter photo/USCG
UPDATE: No sign of small plane that went down in waters south of Vancouver Island

Searchers out on both sides of border between Victoria and Port Angeles

In this undated image made from a video taken by the Duke of Sussex and posted on @SaveChildrenUK by the Duke of Sussex and Meghan, Duchess of Sussex, shows the Duchess of Sussex reading the book “Duck! Rabbit!” to their son Archie who celebrates his first birthday on Wednesday May 6, 2020. The Canadian Paediatric Society is reminding families that the process of raising a reader starts from birth. (Duke of Sussex/@SaveChildrenUK)
Canadian Paediatric Society says raising a reader starts from birth

CPS says literacy is one of the strongest predictors of lifelong health outcomes

Employment, Workforce Development and Disability Inclusion Minister Carla Qualtrough responds to a question during a news conference Thursday August 20, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Easing rules for parental benefits created inequities among parents, documents say

Employment Minister Carla Qualtrough’s office says the government will make any necessary changes

People walk along a pedestrianized zone of Sainte-Catherine street in Montreal, Monday, May 18, 2020, as the COVID-19 pandemic continues in Canada and around the world. Newly released statistics point to a major drop in police-recorded crime during the first eight months of the COVID-19 pandemic. THE CANADIAN PRESS/Graham Hughes
Crime down in first 8 months of pandemic, but mental health calls rise: StatCan

The agency says violent crimes such as assault dropped significantly

Cowichan Tribes chief Squtxulenhuw (William Seymour) confirmed the first death in the First Nations community from COVID-19. (File photo)
Cowichan Tribes confirms 1st death amid growing COVID-19 outbreak

Shelter-in-place order has been extended to Feb. 5

(Pixabay)
B.C. teacher gets 1 day suspension after ‘aggressively’ throwing dumbbell at student

Documents show the weight would have hit the student if they didn’t catch it

Most Read