Continuing your commitment to honouring the Lord with what He has given, you can care for your family as well as designate a percentage of your assets in your will to HART.
Without estate or tax planning in your will, it is possible that the government could become an equal beneficiary of your estate. A significant tax event occurs when a person who is single passes away or if the remaining spouse passes. In most circumstances, tax sheltered funds – such as pensions and Registered Retirement Savings Plans – cannot be rolled over to anyone else. They are considered income and taxes are to be paid.
Charitable donations can offset those taxes to varying degrees, allowing more of your money to go to HART and your loved ones. Though most people give because they want to further the ministry of HART, it is wise to consider how you might offset some of the tax implications when your whole estate is liquidated. Consult your financial adviser regarding gift bequests through your will.