If you’re like many Canadians, your mailbox is jammed in the holiday season with greeting cards, mail-order catalogues, promotional calendars, sale flyers — and requests for charitable donations. While you probably enjoy catching up with faraway friends and relatives and maybe even flipping through gift guides, you might not appreciate the flood of requests for money.
When I am helping clients plan for retirement or their estate needs I often come across “old” life insurance policies that were issued in the 1950’s, 60’s or 70’s. They were either bought by the client, the parents or grandparents for them. (yes, people do buy life insurance for the kiddies!).
Most successful business people feel a strong desire to give back, but what is the best way to make a meaningful contribution? Is setting up a foundation better than giving direct to a charity? If so, what is involved and what are your options?