Legacy Giving – Andy Cragg
It started with Tofu!
A Peterborough boy who wants to make his hometown and the surrounding area a more welcoming place.
Legacy giving through your estate is a meaningful way to make a lasting impact towards charitable causes you care about. Andy Cragg shares his journey of incorporating philanthropic donations into his estate plans, specifically to support new immigrants and refugees.
It started with tofu! Andy grew up in a vegetarian family, and one of the few places people could buy tofu or soy milk in Peterborough in the 80s was Minh's Chinese Grocery. “It’s amazing to see the range of food options now available in our community, reflecting cultures from around the world,” Andy notes.
As the Executive Director of the New Canadians Centre Peterborough (NCC), Andy envisions his hometown to be a more diverse and welcoming place. He actively donates to the organization each year and aims to amplify his support through legacy giving.
Andy utilized an online app-based company called Willful to simplify the process of making a will. With Willful's user-friendly questionnaire, he identified his assets, named beneficiaries, and decided on charitable donations.
Legacy Giving: A Path to Far-reaching Effects
Planned giving allows individuals to use their estate to make a significant impact towards causes they contributed to during their life. By donating even a small portion of your estate’s value, you can support loved ones while still making a major contribution. In Andy’s case, he prioritized financial security for his children while allocating a percentage of his estate to the NCC.
“Each year, I aim to donate 5% of my income to causes I care about; doing the same through my estate will create a much larger impact than I could ever have in any given year. And at the same time, I can rest easy, knowing that my kids are looked after – and at the end of the day, I know that the work of NCC is helping create a better world for them and the community I care about.”
By prioritizing family needs while supporting organizations like the NCC, you can create a legacy that benefits your loved ones and contributes to the betterment of society.