Skip to main content

Donate In Your Will

Donate In Your Will

Many of you have built a really close relationship with the Mississauga Symphony Orchestra. Maybe you are a long-time patrons or subscribers, maybe you are a musician or you grew up playing in our Youth Orchestra. Whatever pulled at your heart-strings, you are committed to the Mississauga Symphony, and now comes the time in your life where you are contemplating what you want your legacy to be. This can lead to an important decision: Leaving a Legacy Gift  in your will.

Planning a Legacy Gift in your will means that you can get the best of both worlds: you can make a bigger contribution to this mission that you love without using the money you need to live your life AND without taking much (if anything) away from your loved ones.

Why Should I Plan A Legacy Gift To The MSO?

A Legacy Gift, or planned giving is a decision you make today to provide for your Symphony Orchestra’s future. From creating an in-life trust to including the MSO in your Last Will and Testament, a planned gift allows you to make a significant statement of support, while potentially unlocking greater income and securing significant tax benefits for your estate.

A charitable gift in your will can reduce significantly the amount of taxes that will be levied against your estate, so a careful plan can benefit both your beloved charity AND your loved ones alike! As Colleen Bradley, a lifetime specialist in Wills and Estate Planning at PG Growth says:

People think that leaving money to a charity will diminish what they can leave to their kids. But because of Canada’s tax regulations, you can give money to a charity that you would otherwise give to Canada Revenue Agency in taxes. And if your net income in the year of your death is lower than the amount you give, your executor can claim a rebate against your previous year’s income and add that to your estate.

One of the biggest myths is that you have to be wealthy or have a huge estate to leave a gift. That couldn’t be farther from the truth. According to,

The majority of charitable gifts in Wills are left by Canadians of average means. You may be surprised to find that when all of your assets are realized, you too are likely to have a tidy sum for support of both your loved ones and your favourite causes.

Consider the following: An average estate in Canada is around $850,000. If it were your estate,  you would likely want to leave the majority of it to your loved ones. But what if you left 2.5% to  your favourite charity? That small percentage translates to a $21,250 donation for the charity,  but only cost your estate $14,237!* With this gift, your Legacy would have a bigger impact  than most of us would ever be able to make during our lifetime.

In another scenario, an investment advisor combined investment strategies that allowed a  Legacy Giver to make a much larger donation to their charity of choice, but left the estate in a  better situation than if nothing was done.

The chart below will illustrate this scenario where an investment advisor combined life  insurance and planned giving into the client’s financial planning. Let’s return to the $850,000  estate, and now add a life insurance policy for $100,000 going to the estate.

ESTATE: $850,000ESTATE: $850,000
DONATION: $ 21,250TAX CREDIT: $33,000*
TAX CREDIT: $ 7,013* TAX BILL: $187,000**
LEFT TO ESTATE: $628,576LEFT TO ESTATE: $696,000

* These scenarios assumed a tax credit of 33% on donations
** These scenarios assumed a 50% capital gains tax on all investments that would have  doubled in value

Are There Other Benefits For Me If I Leave A Legacy Gift?

You will become a member of our exclusive Legacy Donors Circle, and as such:

  • You will be invited to an exclusive annual event
  • You can be recognized in our concert programs
  • You can be recognized on the Supporters page of our website
  • You can be featured in upcoming articles and newsletters

How To Get Started?

  1. Research what we do, and whether our vision and mission align with your beliefs and  desires for how your funds will be used.
  2. Talk to your investment advisor about the best strategies for you and your loved ones.
  3. Update your will. Leaving a charitable gift to the MSO can be as simple as adding a clause  to your will. Start the process by sending a note or speaking with your lawyer about your  wishes.
  4. Once you have decided to include MSO in your will, please let us know so we can ensure  that your will is carried out exactly as you intended.

For more information or to discuss how you can support the orchestra, contact Claudine LaRochelle at 416-704-0238 or email.