LEGACY INSIGHT MEET THE PEOPLE WHO CREATE A BRIGHTER FUTURE FOR CHILDREN
ISSUE 02
OCT 2024
INSIDE THIS ISSUE
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Taking the Long Road to Faith and Love
Legacy Demystified: Your Questions, Our Insights
Amplifying Impact: Making Giving Simple & Impactful
Lori’s Legacy of Love and Empathy
Taking the Long Road to Faith and Love BY ROSE MUHR
and tournaments kept me busy and distracted from the things that were broken in my life. After university, I started working in corporate sales. My personality was suited to the work, and I became quite successful at it. Like volleyball, my sales career kept me very busy and kept my mind distracted from the truly important issues in my life — like finding my true purpose and giving my love to people who could love me back. Perhaps the biggest moment of my life happened in 1997. I was 34 years old, sitting in a church on Sunday morning. The pastor gave a sermon along with his wife about the cancer journey she was on at the time. They spoke with such acceptance, faith, and grace — and something deep inside me just burst open like a dam. I began to sob openly because I finally understood that blaming God for my tribulations wasn’t the answer. It was then that I surrendered to him, and my real life began. Three years later, I began my own cancer journey with the diagnosis of a rare and aggressive cancer. It was a difficult time for me in every way. A second cancer diagnosis came in 2013 along with the discovery that my mother had a genetic predisposition to cancer, a gene mutation that was passed on to me. My most recent cancer battle was a breast cancer diagnosis that came in 2021, requiring multiple surgeries. That third round of cancer also tipped my existential scale. I began to question my life. What did I really want? What is my true purpose in life? How can I find joy and peace after a lifetime of loss, loneliness, and setbacks? WORKING WITH GREATER PURPOSE It was at this point that World Vision really caught my attention. I had sponsored a couple of children and was so impressed by the way I was kept informed with letters, photos, and updates. I came to really like this organization a lot, and wondered
what it would be like to be a part of a faith-based organization that does so much good in the world. Those questions about World Vision happened at the same time as my realization that the stress of corporate sales was killing me. I knew I had to make a career change if I wanted to live a more balanced and purposeful life. That’s when I decided to pursue a career with World Vision. I watched their job postings closely and applied for positions several times. Then, after seven long years, I was hired to work on the Corporate Engagement team. I was thrilled at this new beginning in my life.
I love my job. I love my colleagues. I have so much respect for the people in leadership because they behave in a way that is consistent with their faith. The whole place is open and honest.
Rose and her father with their dog, Benji
A ccording to the experts, most of us don’t think much about our own mortality until we’re in our sixties or seventies. Up until that point, most people feel deep down that they’re going to live forever. My experience has been very different — and while it’s been a difficult road to tread, I’m grateful for the person I am today. Let’s start at the beginning. My name is Rose Muhr, and I was born in Montreal in 1963. I was an only child of parents who had challenges of their own. My mom had undiagnosed mental health issues and was an angry and violent woman when I was a child. It’s a terrible experience to be so afraid of your own parent. When I was young, we were pretty much ‘Christmas and Easter Christians’, meaning we went to church on high holidays, but we didn’t show up much other than that. Then, when
I was a little older, my dad wanted me to get confirmed in the Lutheran Church and encouraged me to attend church regularly to explore my faith. The church I went to had a great youth program, and I began to let my defensive shell about religion down. Even at a young age, I questioned how a loving God could allow a child to grow up in such unhappy circumstances. NAVIGATING ILLNESS AND FAITH During my school years, my mom had two battles with cancer — and then the third cancer diagnosis was the one that ultimately took her life in 1985. She passed away when I was 21. Looking back, I had a life that looked great on the outside but a real emptiness and void within. I went on to college and university and immersed myself in playing varsity volleyball. The grueling schedule of practices, games
Everyone is respected and valued. And that kind of character and integrity extends into their work with poor communities in all areas World Vision operates.
My third cancer diagnosis also convinced me to stop delaying making my will. I went to my notary and got it done. With no spouse or children, I had decided long ago that I wanted to leave most of my estate to a good cause — World Vision and their good work with vulnerable children. Generosity is something that my father has modelled throughout my life. I am thankful for his legacy to me in that regard and in so many other ways as well. Since I put that gift
Right: Rose at a Chosen event, holding a photo of the child who chose her as her sponsor.
STORY CONTINUES ON THE NEXT PAGE ▶
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Legacy Demystified: Your Questions, Our Insights
in my will, I’ve felt satisfaction, peace, and love, knowing that my gift will do so much good for people who need help even after I’m gone. The work and people of World Vision have become a vital part of my life. It’s given me a true purpose in going to work on Monday mornings. I found a community of kind and warm people with whom I feel I truly belong. And I found a place where the people around me love God, love each other, and love the families we help each day. Today, I’m grateful to have my life. To have my health. To do work that is so important to me. To be surrounded by wonderful people who are so good to me. To feel like I’ve finally found my true home. I’ve shared my story with you today because I know that you’re a loyal World Vision supporter yourself. I’m hoping that, after hearing my story, you might want to consider making a gift in your will to World Vision. Of course, everyone is an individual and this type of giving isn’t for everyone. But if my story resonates with you, I do hope that you’ll think and pray on it. Thank you — and bless you.
We are excited to introduce Advisors with Purpose (AwP) , a valued partner of World Vision Canada. AwP provides expert legacy giving services to help you and your family make informed decisions about your estate. They work with you to create a personalized plan, ensuring your will reflects your life, faith, and values. Together with AwP, we’re offering free estate planning webinars throughout the year. Keep an eye on your email for invitations. To book a free session with one of the AwP specialists, please contact them directly at 1-866-336-3315 and mention you’re a World Vision donor!
Excited about legacy giving? We are too! Thanks to your enthusiastic feedback and
1 What types of assets can I include in my Will? Your legacy gift can take many forms. World Vision Canada accepts cash, securities, life insurance policies, retirement funds, and endowment funds. While we may consider other assets like real estate, personal property, or cryptocurrencies, it’s essential to consult with our legacy team first. Additionally, consulting with a legal or financial advisor will help you determine the most tax-efficient and impactful way to structure your gift. 2 What if I have multiple charities I want to support? You can divide your legacy gift among several charities. Specify the allocation in your Will, ensuring each organization receives the portion you desire. Consult with legal advisors to ensure your wishes are accurately reflected. 3 Can I leave a legacy gift anonymously? Yes, you can leave a legacy gift anonymously. World Vision respects your choice to remain confidential and will honour your preference. However, we encourage you to let us know about your decision, as this can help us acknowledge your generous gift and provide you with updates on how your gift will make a difference. 4 When I leave a gift in my Will to World Vision Canada, how will my legacy gift be distributed, and who makes the decision? Legacy gifts are typically allocated to the Where Most Needed funds unless specified. We focus on using legacy gifts to address pressing needs and maximize impact across our programs. The decision on how to distribute your gift is based on priorities and needs. Your gift will help meet the needs of vulnerable children and families globally by providing essential resources such as health care, protection and safety, food, and clean water. This approach ensures that your contribution supports urgent and effective initiatives. 5 How do I involve my family in my legacy giving decision? Involving your family in your legacy giving decision is important. Begin by having open conversations about your philanthropic goals, values, and the causes you care about. Encourage family members to share their perspectives and consider their input when making decisions. Engaging them early on helps create a shared understanding and ensures that your legacy gift reflects your family’s collective vision. We appreciate your feedback! If you have any questions or topics you’d like us to address in the next newsletter, please use the enclosed reply card to let us know. Your input will help shape our content, and we’ll share our insights in future editions. Thank you for helping us serve you better.
questions from last year, we’ve put together this section to address your top inquiries and shed light on the world of charitable legacy giving. We’re delighted to share the knowledge and insights that will empower you to make a meaningful difference through your charitable efforts. Let’s dive in and explore how you can create a lasting impact!
Rose at the Grand Canyon
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Amplifying Impact: Making Giving Simple & Impactful BY SISI CHAKRABARTI
Alex and Susan both receive CPP of $26,000 annually. They’re unhappy with the fact that they don’t have an option to say no to receiving the CPP, and the tax that goes with it! In this strategy, it was suggested that they take the annual CPP and buy a life insurance with the charity as the owner and beneficiary now. This way the tax paid on the CPP income is effectively neutralised. Upon the second spouse’s passing the charity receives a gift of over $800,000 as a legacy gift from Alex and Susan! A simple way to convert taxes into charity! For their registered plans of RRSP and RRIF’s , Alex and Susan are aware of the tax free spousal rollover available upon the first spouse’s passing. Upon the passing of the surviving spouse, their daughter Betty, the designated beneficiary will inherit the balance of the RRIF. Their current RRSP, (which will turn into a RRIF) is at $800,000 for Alex and Susan to draw down during this retirement period for their lifestyle expenses. Let’s assume upon the second passing there was a remainder of $500,000 left in the RRIF, if you thought Betty would receive $500,000 upon Susan’s passing, think again... Betty would receive only $230,000 as the taxes owing would amount to 54% (given the fact that Alex and Susan were in the highest marginal tax rate) in Ontario, would benefit the tax department by $270,000! Alex and Susan were made aware that they could get a joint life insurance policy while they both were alive with Betty as the beneficiary for $500,000, using part of their CPP proceeds. Upon Alex’s passing the RRIF’s rolled over tax free to Susan. The plan was for the second spouse to donate the remainder of RRIF’s in their will to a charity of their choice; so, in this case, Susan donates her remainder RRIF’s to a charity of her choice in her will. Upon Susan’s passing, the estate will receive a tax receipt for the value of the RRIF’s donated and Betty, who was the beneficiary of the life insurance policy would receive $500,000 tax free. This way they keep the wealth, Alex and Susan had so worked hard for, in the family. With this strategy the family was made whole and a substantial donation created to honour their legacy!
3 The not needed CPP
Here are some giving strategies which I provided a newly retired couple. Meet Alex (70 years) and Susan (65 years), who have a daughter, Betty (35 Years), married to Tom and have two young children. Alex and Susan came to us for their estate planning and apart from organizing their affairs, they were current donors to a charity for a few years. They have been donating $20,000 annually to a charity of their choice. They wanted to know ways to maximize the impact of their charitable donations; as well as ways to pass on their wealth to the next generation. Here are some ideas:
4 Keep the wealth in the family!
Alex and Susan had a $25,000 life policy that they felt they no longer needed and were considering cancelling. Instead, they could donate the policy to the charity with the charity being the owner and beneficiary or just as beneficiary. They may be eligible to claim the premiums on their tax returns now or upon death, based on the structure of the donation. Rather than cancel the policy, they now have the option to build a legacy! Alex and Susan would like to keep donating the $20,000 annually until both of them pass on. To highlight the impact of the donation of life insurance, consider this scenario: if they donate $20,000 each year for the next 10 years, their total gift amounts to $200,000. Here are two strategies showing how a charity can blend the $20,000 donation into cash and life insurance, highlighting the potential impact: STRATEGY A: The charity keeps $5000 in cash and uses $15,000 to buy an insurance policy. In 10 years the cash component is $50,000 but at life expectancy (assuming age 86), the insurance benefit paid to the charity is $273,000. A total benefit of $323,000 versus a straight donation of $200,000! STRATEGY B: The charity keeps $10,000 in cash and uses $10,000 to buy an insurance policy. In 10 years, the cash component is $100,000 but at life expectancy (assuming age 86), the insurance benefit paid to the charity is $184,000. A total benefit of $284,000 versus a straight donation of $200,000!
1 Donate life
insurance that they no longer need
2 Amplify impact
with life insurance
Disclaimer: The information shared in this article is for informational purposes only. It does not constitute financial advice or an opinion of any kind, and it does not create a solicitor-client relationship. The information contained in this article is not to be relied on for financial decision-making. If you require financial advice, please seek out specific advice from a financial planner.
Sisi (He/Him) is a Financial Planner and Master Financial Advisor in Philanthropy with 23 years of experience. He runs a boutique firm in Mississauga, Ontario, focused on Strategic Planned Giving. In 2024, Sisi and AM Strategies launched a Charitable Life Insurance
STRATEGY A
STRATEGY B
$5,000 $15,000 $50,000 $273,000
$10,000 $10,000 $100,000 $184,000
INITIAL CASH
The Impact of their donations is amplified! If it was you, which would you choose? Please keep in mind that these are for information and illustration only. Individual numbers may vary. This is to illustrate the effectiveness of the outlined strategies.
product to simplify and amplify giving. He is a member of several professional organizations, including the Estate Planning Council of Canada. Married to Smita for 34 years, Sisi enjoys traveling and is active in various charities.
INITIAL INSURANCE POLICY PURCHASE
CASH AFTER 10 YEARS
INSURANCE BENEFIT AT AGE 86
$323,000
$284,000
TOTAL BENEFIT
$200,000
$200,000
STRAIGHT DONATION COMPARISON
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Lori’s Legacy of Love and Empathy BY KAREN STILLER
In fact, Lori went on to keep in touch with her wider community of friends and co-workers through a monthly email she called “Scribbles” where she would share an inspiring story from her life and poems or songs she had written. Often, those stories flowed out of her deep Christian faith and the comfort she received from God during her journey, especially with her health. A LEGACY OF COMPASSION Lori lived with a rare disease called Familial Dyplegia, a condition that impacts the legs and mobility. When people recall Lori’s time at World Vision, they might picture her moving through the cafeteria with her cane, chatting with co-workers. Because of the progression of her disease, Lori’s physical struggles grew over the years. She gradually lost the ability to speak, relying sometimes on a computer to help her communicate. Even then, Lori still volunteered to read scripture at World Vision chapel, our weekly devotional time. Later, when I would walk with her through the long-term care residence where she then lived, I would see how popular and well-loved Lori was once again. On those walks, she would stop her motorized wheelchair and communicate by using her finger to spell out words in the air. Once again she knew everybody, and everybody knew her. It was heartwarming to witness Lori’s rare combination of tenacity, resilience and humour — the friendly, open way she moved through the world, even with challenges many would find so difficult. In fact, instead of her reality making her bitter or unhappy, to those who knew her, it seemed that Lori grew even more compassionate and empathetic. She could relate deeply to people who were wounded, and suffering. It was probably that empathy that first led her to World Vision
and made her love her career so much. She would have said that her work, which began in the early 1980s, was part of what gave her life such meaning. As Lori’s world became quieter in many ways, because of her inability to speak to others, it became apparent to those close to her that Lori was drawing ever closer to God. It’s often said that prayer is more about listening than talking, and that was apparent in Lori’s life. She became a listener of God and received God’s love and comfort to her through that practice. A LASTING LEGACY Lori built a beautiful life, and she lived it. She loved and was loved back in return. Lori died on Dec. 19, 2022. It was not a surprise to anyone that she left a gift in her will to the work of World Vision. Ever practical, Lori would have wanted to continue her legacy of giving in the most effective way possible. She wanted her passing to count in the same way her life did — by generously giving to a mission that she knew helped change lives around the world. Giving to others and helping to build a compassionate world was such an important part of her life. She deeply and truly cared. I like to say that Lori was “a shiner.” Lori shone. Lori wrote these lines in one of her Scribbles: “When my life down here is through and Jesus calls me to my home up there, beyond the golden shore. I’ll look back… and review. I believe that if Lori was able to take a moment to look back from that golden shore, she would know how great her impact was, and that it carries on because of her generosity.
As told to Karen Stiller by Hazel, a former World Vision employee and a close friend of Lori's. T here are some people in the world who have a warm light within them. My friend Lori was one of those people. I first met her in 1984 when we both worked at World Vision. People loved Lori. She was outgoing and friendly, and her Newfoundland heritage came out clearly in her sense of humour. She loved to laugh and had a fine-tuned sense of the ridiculous which only grew in the years that followed. She was well known at World Vision back in those days, and people would always want to chat with her and catch up. Lori was also a great listener. She cared about other people, which showed in her friendships and her commitment to World Vision’s mission. Lori loved her work. It fit in perfectly with the way she chose to live her life, fully and generously with a focus on others. LORI’S IMPACT AT WORLD VISION CANADA I first became friends with Lori during a season when her health took a turn for the worse. Our boss at World Vision asked me to check in with her every now and then and see how she was doing, and how her work family could come alongside to help. What began as a kind of casual work assignment quickly grew into a deep, long-term friendship. One of the final projects she did for World Vision before her retirement was to connect with World Vision staff around the world, to encourage them in their work. She often received friendly notes of gratitude back, which meant the world to Lori. It was just the right job for our very friendly friend. She was even presented with the Encourager Award by World Vision Canada one year. Socializing was one of her great loves!
Lori West at the World Vision office in Mississauga
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Where Does my Gift in Will go?
From 2022 to 2023, Where Most Needed fund enabled the driving force behind life-saving programs that touch the lives of girls, boys, women and men in every corner of the globe. From providing opportunities for sustainable livelihoods to ensuring access to essential healthcare and nurturing educational initiatives to safeguarding vulnerable populations and securing clean water sources to protecting against exploitation and abuse, your support enables us to address the diverse needs of communities.
OVERALL PROGRESS OCTOBER 2022 TO SEPTEMBER 2023
Unless you specify otherwise, gifts you leave to World Vision Canada through your Will will typically be directed to our Where Most Needed fund . Where Most Needed fund have provided help to the many programs in need of support in a given year. We appreciate your trust to program these funds towards life-saving programs where the need for funding was greatest.
By equipping communities with the resources, knowledge, and support they need to not only survive but thrive, they’re breaking the cycle of poverty and opening up pathways to a brighter, more promising future for generations to come. CHILDHOOD RESCUE Donors’ support helped to power Childhood Rescue programs to help girls and boys in need by working in places others
MORE THAN 16.5 million
GIRLS, BOYS AND ADULTS WERE REACHED THROUGH OUR PROGRAMS
59,916 people were reached through programming, including 39,583 girls and boys. 341 girls and boys in Mali participated in inclusive dialogues with stakeholders and religious leaders to minimize harm and support local leaders to build peace. 20,773 children in Honduras were reached through violence prevention initiatives in peace clubs, workshops in educational centers and activities. 41% of families in the DRC can now access drinking water, an increase from 35% in the previous year. 4,233,973 people received food or cash assistance, supporting their immediate survival. 65,722 metric tons of food distributed. 95,483 people received support from agricultural resources, including large and small livestock, tools and seeds. 42,257 people were trained in agriculture and livestock techniques, including food production, livestock handling, climate-smart techniques and post-harvest storage methods.
9%
14%
280 PROGRAMS AND 35 GIFT-IN-KIND SHIPMENTS WERE CARRIED OUT IN 55 COUNTRIES 45% OF OUR INVESTMENT WENT TO SUPPORT THE MOST FRAGILE COUNTRIES $427 million WAS INVESTED IN AREAS OF NEED AROUND THE WORLD
PROGRAMS EXPENDITURES
8%
55%
cannot reach, meeting urgent needs and staying to find solutions. Enabling this programming helps provide long-term solutions for families recovering from the effects of conflict and upheaval.
14%
Livelihoods Health Education Child Protection & Participation Water, Sanitation & Hygiene
WORLD FOOD PROGRAMME Donors’ support enabled programming in partnership with World Food Programme (WFP) to work in countries like Lebanon, Somalia and South Sudan toward a hunger- free world for the world’s most vulnerable children, families and communities. Together, we continue to provide assistance to disaster- affected people to save lives, improve health and empower vulnerable communities to become self-reliant, now and in future.
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?
Lots of people wonder what will happen to the money in their bank account after they pass away. Here’s what Daniel Goldgut, an estate planning lawyer and CEO and Co-Founder of online will platform Epilogue, say:
“What will happen to my bank account when I’m gone?”
World Vision Canada has partnered with Epilogue, Canada's leading online Will platform, making it easier than ever to create a legally-binding Will. Enjoy an exclusive 20% off when you create your Will with Epilogue. Plus, consider including a Legacy Gift for World Vision in your Will and share your decision with us — your support will create a long-lasting impact for generations to come.
“The answer often depends on whether they have a Will or not. Once a bank is notified that someone has passed away the bank will freeze their accounts to make sure there is no fraud or unauthorized withdrawals. From that point, the bank will only give access to the person who is authorized to deal with the deceased person’s assets. Who is that? When someone makes a Will, they can choose the person who can access their accounts after they pass away. This person — often a family member or friend — is named as the “executor” or “estate trustee” in the Will. When someone passes away without a Will, there is no executor, and someone needs to apply to the court to fill this role. This can be a lengthy and expensive process and can delay access to the money in the account. Another benefit of having a Will is that once the bank account is accessed, the money gets distributed based on the wishes contained in the Will. When there is no Will, the money is distributed according to a set of strict “default rules” that are different from province-to-province — even if that’s not what the person would have wanted. It’s important to make sure that your bank accounts can be dealt with as soon as possible and that the money goes where you want it to. The only sure way to do this is to have a Will in place.”
SCAN QR CODE to find out more about Epilogue
Daniel Goldgut is the CEO and Co- Founder of Epilogue, a platform that helps Canadians prepare Wills and other important estate
planning documents online. Before starting Epilogue, he spent 4 years in Toronto as a tax and estate planning lawyer. Daniel hopes that by making the estate planning process simpler and more affordable, he can help Canadians get these important documents in place.
MEET THE WVC LEGACY TEAM. WE ARE HERE TO HELP!
Lisa Bono Donor Advisor, Legacy lisa_bono@worldvision.ca 1.800.714.3280
Trina Owens Head of Legacy trina_owens@worldvision.ca 1.800.714.3280
1-800-714-3280 | plannedgiving@worldvision.ca | www.worldvision.ca/plannedgiving
CHARITY INFORMATION FULL LEGAL NAME:
World Vision Canada 1 World Drive, Mississauga, Ontario L5T 2Y4 119304855RR0001
ADMINISTRATIVE ADDRESS:
CHARITABLE REGISTRATION NUMBER:
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