Who plans a gift?

Who plans a gift?

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The general belief is that those who consider a planned gift are wealthy people who do not have close family or friends, however:

  • 69 % of Quebeckers consider that it is not necessary to be rich to make a planned gift,
  • 8 people out of 10 believe that it is possible to conciliate the future of their close family and friends along with making a planned gift to a charitable organization.

Financial and Estate Planning Practices in Quebec

According to a survey conducted by CROP in 2005, seven people out of ten (65%) who aren’t retired have already started preparing for it. As the most common form of planned giving is the charitable bequest, respondents were also questioned on this subject. It seems that there is long-term potential when it comes to planned giving, as six respondents out of ten, aged between 45 and 54 have prepared their will. It goes without saying that a greater proportion of the population aged over 65 have drafted their wills (87%). In addition, there is an important correlation between the amount of income and assets people have and whether or not they have written their wills.  The respondents with a family income higher than $80,000, who owned their primary residence and possibly a secondary home, along with people who had a RRSP, were more likely to have prepared their wills. Also, nearly nine out of ten respondents who had already drafted their wills had done so with a notary.

A gesture that prolongs life

How to plan a gift?