A Legacy of Arts & Culture

Our Way of Saying Thanks 

By letting us know that you are including us in your plans, we’re able to say thanks in the best ways we know how. Legacy Society members are honoured with lifetime acknowledgements in The Port Theatre Society publications and receive exclusive invitations to Legacy Society events to share a space with their peers. 

Let’s have a conversation about your gift to ensure that we’re using it the way you intend, and join a group of individuals who share both your love for the Port Theatre and your spirit of generosity. 

If you’re interested in exploring the possibility, we strongly recommend that you seek legal advice to determine the best way to fulfill your your wishes. 

If you have included us in your estate plans, please let us know!

Bequests 

There are several ways that people choose to include organizations in their estate plans. The most common kind of gift is leaving a Specific Bequest in your will. This is a straightforward clause in your will that leaves a specific dollar amount to the charity of your choice. An example clause might look like this:  

I give to The Port Theatre Society the (specify amount here or describe property) to be used for such of its objects and purposes as its Board of Directors may determine.  

Specific bequests are popular because you get to determine the exact amount you wish to leave to an organization, but another type of bequest is a Residual Bequest. This type of gift is designated to leave an organization whatever is left over after all debts, taxes, expenses, and other bequests have been paid. So if you had an idea for what you wanted specifically to leave your family, for example, and weren’t sure how much would be left after all other expenses were paid, you could choose to leave a residual bequest to an organization. An example clause might look like this:  

I give to The Port Theatre Society the rest and residue of my estate to be used for such its objects and purposes as its Board of Directors may determine. 

Life Insurance and Annuity Gifts 

One way of legacy giving that benefits you now is assigning part of all of a life insurance policy to an organization. The gift of life insurance does not affect other assets that are intended for your family. In this case, The Port Theatre Society would be named as the beneficiary, and the annual premiums are tax-deductible.

Every situation is unique and the most important thing is that your gift is what is best for you and that you feel like your gift represents you.   

If you are interested in exploring ideas for planned giving, you should seek advice from a financial advisor on the various tax benefits of making contributions now through life insurance policies, annuities, or gifts of property. You should seek advice from a legal counsellor to prepare a gift through your will.  

Please contact us if you or your advisors wish for more information on planned giving.