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David and Margaret Craig's future planning leads to philanthropy.

The Craigs learn how future planning can lead to philanthropy

03
.15

After sitting with their financial planner to discuss retirement, Margaret and David Craig discovered they could help The Salvation Army by sharing their earnings through charitable giving.

As Margaret explains, “David contributed generously to RRSP’s during his working life, but there comes a time when you will be taxed on what has been accumulating tax-free. We learned that if we were to die tomorrow, half of our retirement savings would go to the government in taxes.

The Craigs learned they could give back to The Salvation Army by using earnings that would otherwise be taxed. “Our financial planner told us that it’s really about deciding whether we want to be involuntary philanthropists­-allowing the government to direct where our wealth will go through taxes, or voluntary philanthropists-partnering with the government to redirect much of what would have gone to taxes to the charities we support.“

The Craigs decided that they wanted to be voluntary philanthropists and established an insurance policy and a gift in their will that would benefit the work of The Salvation Army.

David and Margaret were initially hesitant to share their story, not wanting to draw attention to themselves. However, they realized it was others’ stories that inspired them to give back. By establishing their financial plan, the Craigs are now able to put their values into action.

As every dollar counts towards helping those in need, Margaret and David hope that others will be inspired by their story and support The Salvation Army’s effort to end poverty.

For more information on leaving a gift in your will, please contact Planned Giving Representative, Doris Cameron at 902-455-1201 x 237 or doris_cameron@can.salvationarmy.org.

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