Conversation starter – Leaving a lasting legacy

Need to break the ice with clients about their legacies?

Ask your business-owning client, “Do you intend to leave money to charity in your will?” Let her know that depending on the size of her gift, it may make more sense to set up a foundation. Run through the two ways to set up a foundation—a private foundation or a donor-advised fund—to determine which would work best for her circumstances. Then connect her with a tax lawyer or accountant who can help her establish a trust and register with the CRA as a charity, if necessary.