Philanthropists

Leave a Lasting Legacy with Purposeful Giving

As you enter later stages of life, maximizing the impact of your charitable giving may become a priority. For philanthropists, it’s not just about generosity, but about giving smart. Strategic planning can ensure your donations have the maximum impact while minimizing tax liabilities. Using tools like donor-advised funds (DAFs), charitable gift annuities, or gifting appreciated securities can significantly reduce taxes while supporting the causes you care about. Planned giving options, such as bequests, charitable remainder trusts, or creating a charitable foundation, can help you align your charitable goals with your long-term financial and estate plans.

Aligning your charitable giving with your estate plan is critical to maintaining balance between supporting causes and providing for your loved ones. Tools like the Canada Revenue Agency's (CRA) tax incentives for charitable donations allow you to create a strategy that benefits both your family and the causes you care about. Keeping track of how donations are allocated and ensuring their intended impact requires a thoughtful approach that integrates your financial and philanthropic objectives.

At Paragon Financial, we can help you design a customized strategy to make the most of your charitable giving while reducing tax burdens. We specialize in ensuring that your donations not only reflect your values but also align with your estate plan, helping you leave a lasting legacy.