A runner, a research volunteer and a bequest
Sheila Mandel has fond memories of running in the Baycrest Challenge almost two decades ago when she won a prize for her age category; she was about 60 at the time. She entered the 5K race at the urging of her personal trainer, who was there to greet her at the finish line.
She still has her Baycrest Challenge jacket!
Mandel also got involved as a volunteer at Baycrest when participants were needed for studies being launched into Alzheimer’s disease at the Rotman Research Institute, which opened in 1989.
Researchers were looking for healthy control subjects to study, and she came to Baycrest once a week for six weeks. For another study, she had a hearing test at age 62 and “they were amazed at my hearing at the time,” she said.
Mandel said she found the research interesting and encouraged friends to get involved as well.
Nowadays, she is thinking about Baycrest in another way. Mandel decided to make a bequest in her will because she wanted to leave something to her community.
“It’s certainly a worthwhile place to give because they’re doing all kinds of research into study of the aging process,” she said.
“Some people in their 90s and even 100 have clear minds, so dementia doesn’t have to be part of the aging process. You don’t have to get Alzheimer’s. There is hope for prevention.”
A legacy gift to Baycrest will help transform the aging process
Leaving a legacy gift to the Baycrest Foundation is an easy and powerful way to improve aging brain health through innovative care, education and research now and for generations to come.
Will & Bequests
A gift by bequest can be made through a special clause in your will. You can specify a percentage or the residue of your estate, a sum of money, or a specific property, such as real estate or securities.
The Baycrest Foundation suggests the following language for use in your will, but you should choose language in consultation with your lawyer or professional advisor:
“I bequeathed to The Baycrest Centre Foundation (also known as the Baycrest Foundation), located at 3560 Bathurst Street in Toronto, Ontario M6A 2E1 (Charitable Registration Number 11921 5242 RR0001) ________________ (insert one of the options as indicated below).”
- For a percentage share: “a ____________% share of my estate, for its own use absolutely.”
- For a specific bequest: “the sum of $____________, for its own use absolutely.”
- For a residual bequest: “the residue of my estate, for its own use absolutely.”
- For a specific area (patient care, research or education): “It is my preference that this gift supports” ___________________________.
Note: When designating to a specific area it is recommended that you discuss the wording of your gift with the Planned Giving Director @ 416-785-2500 ext. 3895.
A gift of life insurance is an affordable opportunity to make a significant donation to the future of Baycrest while enjoying beneficial tax savings during your lifetime or for your estate.
Charitable Gift Annuities
A charitable gift annuity is a contract between a donor and the Baycrest Foundation in which the donor transfers property, such as cash or securities, to the Foundation in exchange for its lifetime income.
Additional planned giving opportunities include: residual interest; tangible property; charitable remainder trusts; stocks, bonds, securities; real restate; art; and gift-in-kind.
To discuss a planned gift to Baycrest that meets your philanthropic goals, please contact Becki Willoughby, Planned Giving Director, at 416-785-2500 ext. 3895 or email firstname.lastname@example.org.
The Professional Advisory Group
The Professional Advisory Group’s mission is to educate financial, legal and accounting professionals for the purpose of offering advice to their aging clients and families.
Thank you to our group members for their commitment and support.
Brian Belmont, Arieh Bloom, Ashley Doidge, Allan Kalin, Leon Kieselstein, Howard Landau, Israel Mida, Penny Petroff, Allan Rakowsky, Gerald Ross, Jack Rotsztain, Ali Spinner, Errol Tenenbaum, Kimberly Whaley
Reduce taxes through charitable giving
Everyone has heard the famous quote about taxes being one of the certainties in life.
With that in mind, a full house was on hand at Baycrest’s Reuben Cipin Healthy Living Community on May 25, 2016, to hear from Tina Tehranchian, a recognized financial educator and consultant specializing in estate and charitable tax planning.
Ms. Tehranchian has been giving counsel and assistance to entrepreneurs, professionals and retirees for more than a quarter century, and has been quoted by The Globe and Mail, the National Post and other leading media outlets.
She provided insights on the new 2016 tax laws and information on how to minimize or eliminate taxes on an estate, make meaningful charitable donations and leave a lasting legacy.
“The estate planning seminar was informative and entertaining,” said Becki Willoughby, Planned Giving Director at the Baycrest Foundation. “Afterwards, I heard from people who said they really appreciated hearing from Tina about how to reduce taxes and leave more to their estate.”
Heather Ordon, who attended the seminar, said the material was extremely well presented.
To learn more, contact Becki Willoughby at 416-785-2500 ext. 3895.