Early Morning at Dorje Denma Ling
Planned Giving
In our daily life, the path of meditation guides our expression of generosity to the world. How would you like that generosity to live on as your legacy? How can that legacy express your aspiration for the world?
Planned giving is a way that many people choose to support non-profit institutions by making larger gifts than one would make on an annual basis. These gifts would not affect your income while you are living. Bequests are one kind of planned giving and can be included in one’s will as a way to ensure that your wishes are carried out upon your death.
Why make a bequest to Dorje Denma Ling?
You have the satisfaction of knowing that your bequest will support practitioners in the future. Dorje Denma Ling, as well as all the Shambhala land centres, rely on donors such as you for a great portion of their funding, so that we can continue to offer the teachings of our lineage and be a place of spiritual deepening and retreat.
What other benefits come from making a bequest?
Bequests can minimize or eliminate your estate’s tax liability, allowing your beneficiaries to receive more of your legacy. In the year of your death, up to 100 percent of the bequest is credited as a charitable donation. This means that a charitable bequest will reduce the amount of taxes owed by the estate by up to 100 percent of your net income.
How does it work?
Upon receiving the bequest, a donation receipt will be issued to your estate for the full amount of the bequest.
A bequest is a revocable gift; it can be changed at any time should circumstances change or should you incur unexpected medical or other costs.
You can arrange for your bequests to be as private or as public as you wish.
How I give?
There are several different types of bequests (listed below), but you should ask the advice of a legal or financial advisor to help you determine the most appropriate type for you. This person can also help you to review your assets and liabilities and determine the appropriate language to be used in your will.
Andrew Munro is one attorney who has worked with members of our community for some time on such matters.
When you make a bequest to Dorje Denma Ling, please use the following language:
‘Shambhala Canada Society, to be used for the General Purposes of Dorje Denma Ling’
What kind of bequest can I make?
Bequests can be designated for unrestricted use or for a designated purpose. Unrestricted donations are the simplest and most useful for the recipients. However, should you wish to designate monies for a specific use, we suggest that you discuss the terms of the request with Dorje Denma Ling to help ensure that your wishes can be met.
General Bequest: A general bequest bequeaths a specific amount of money from your estate.
To make the bequest of a specific dollar amount, your could include the following language: “I hereby give, devise, and bequeath (X DOLLARS) to Dorje Denma Ling, a division of Shambhala Canada Society, for Dorje Denma Ling’s general use and purpose.”
Specific Bequests: The gift of a a specific property such as stocks, real estate, securities other items may be offered. Typically, the item will be sold, and the proceeds, less appraisals and selling costs, will be applied as per the terms of your bequest.
To make a specific bequest, your will could include the following language: “I hereby give, devise, and bequeath (DESCRIPTION OF PROPERTY) to Dorje Denma Ling, a division of Shambhala Canada Society, for Dorje Denma Ling’s general use and purpose.”
Residual Bequests: You may wish to donate all, or a percentage of, what remains of your estate after payment of debts, taxes, and other bequests.
To make a residual bequest, your will could include the following language: “I hereby give, devise, and bequeath (X% OF ANY RESIDUAL DOLLARS) to Dorje Denma Ling, a division of Shambhala Canada Society, for Dorje Denma Ling’s general use and purpose.”
Contingent Bequests: A contingent bequest takes effect only if the primary intention of your will cannot be met (e.g., if the primary beneficiary does not survive you). This ensures that property will pass to Dorje Denma Ling rather than an unintended beneficiary, such as the government.
To make a contingent bequest, your will could include the following language: “If (primary beneficiary) does not survive me, then I hereby give, devise, and bequeath to Dorje Denma Ling, a division of Shambhala Canada Society, for Dorje Denma Ling’s general use and purpose.”
Dorje Denma Ling Development
For more information or for any assistance with planned giving to Dorje Denma Ling please contact the Executive Director.
If you are planning to leave Dorje Denma Ling a gift in your will, please consider letting us know so that we can thank you.
