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Vancouver CAGP launches Estate Guide
September 20, 1999The Canadian Association of Gift Planners (CAGP) Vancouver Round Table unveiled a new tool last week that's being hailed as a "wills and estates law school class in a box." The new Estate Guide for the Not-for-Profit Beneficiary offers an easy-to-read overview of the estate administration process in British Columbia, and includes a simple but comprehensive system for reviewing estate accounts. Although it focuses on B.C. laws, many of the general management elements will apply to organizations across the country.
According to the authors -- local CAGP round table members -- the primary focus of the guide is on helping organizations figure out what to do when they get the call or letter telling them that they are receiving a bequest. It is directed at organizations without much experience accepting bequests, but the handy summary sheets and accounts checklist will be a welcome addition to the toolbox of more experienced gift planners too.
The guide covers the basic principles of estate administration, the rights of beneficiaries, and the obligations of the nonprofit to the testator and the community. It clearly sets out the estate process with timelines to give you an idea of how long it might take for your organization to realize a gift. Additionally, it highlights the most common types of estate disputes that might affect your gift.
The guide walks you through the process of accepting a bequest gift. It tells you what to look for when reviewing an estate account to confirm that the donor's wishes are being fairly executed. From conducting asset reconciliations to assessing the reasonability of estate income and expenses, the guide walks you through areas that you should review and offers techniques for examining the estate effectively. It also offers tips for choosing a professional advisor to help with any of the particulars of the review process. A comprehensive glossary explains in plain language many of the common legal terms of estate gifts.
The first of its kind in Canada, the Estate Guide is a systematic and standardized process to fulfill your duty as a fundraiser. It should serve as a useful tool to any organization's gift planning arsenal and will likely become a model for other similar guides in other provinces.
For more information about the Estate Guide, contact Sheree McNamara at (604) 736-4404 ext. 227 or e-mail smcnamara@hsf.bc.ca
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