The Globe and Mail - 06.11.2019

EP2 • SPONSOR CONTENT WEDNESDAY, NOVEMBER 6, 2019

APLAN FOR THE FUTURE

LegacygiftshavehelpedSickKidsgrowintoaninternationalleaderinapaediatrichealthcare

MonicaBoarettorecalls happy

childhoodmemoriesofherfather

Piergiorgio(Peter)Boaretto.

“Whenhecamehomefromwork,

hewouldgatherthekidsandgoto

thepark,”shesays.

Andatfamilyget-togethers,he

couldoftenbefoundsittingat the

children’stable, enjoyingthecompa-

nyof his grandchildren.So, afterhe

passed awayandhiswillwas read,

noonewas surprisedhehadlefta

gifttoTheHospitalforSick Children

(SickKids)in Toronto.

“He wasabig kidatheart,”says

Ms.Boaretto. “But whenhesethis

mindtodosomething,hewent

ahead anddidit,”shesays.

An immigranttoCanada,Peter

Boaretto was inspired by a teacher

in his hometownofCorte, Italy,

not to accept thestatusquo andto

explore opportunitiesfartherafield.

Heimmigrated toCanadainthe

196 0swhenhewas21, andafter

afew yearsestablishedSuperior

Machining,asuccessfulfull-service

machineshop thatnow workswith

arangeofindustries in Canadaand

aroundthe worldandcontinuesto

be operated asafamilybusiness.

“Whenwe weregrieving hispass-

ing,knowingabout thegiftwasan

PeterBoaretto(fourthfromleft)withhiswifeandfourchildren.SUPPLIED

unexpected comforttous,”saysMs.

Boaretto.

Later,sheandher sisterLaura

visitedSickKidstoseefirst-handthe

impact oflegacygifts.

“It wasso overwhelmingtosee

theneonatalunitandunderstand

what thehospitaldoesforallchil-

dren,fromthoseverysmallbabies

to olderchildren,”shesaysrecalling

theinternationalreputationofthe

hospitalandthescientificbreak-

throughsthathavehad aglobal

impactsuchasthediscoveryofthe

cysticfibrosis gene.

“It was inspiringtoknow that

his giftwouldhave animpact on

thelivesofchildren; notjustthe

childrenoftoday, butfuturegen-

erationsofchildren.Childrenarea

beautiful reminderofhow precious

lifeisandhow agiftlikeourfather’s

canhaveapositiveimpact,”says

Ms.Boaretto.

NotingpatientsatSickKidscome

fromacross OntarioandCanada,

andevenfromaroundtheglobe,

Ms.Boaretto believesherfatherun-

derstood theimpact ofSickKidsand

howfar-reachinghis giftwould be.

“He wasareallygreatmanwho

choseto dosucha beautifulthingby

leavingagifttoSickKids,”shesays.

AFATHER’S LAST GIFT

Afamilyiscomfortedbyaninspiringgifttoimpactthelivesofchildren

Thevaluesthatguide ourlives
areasmuchapartofthelegacy
weleave behindasanyassets–
andtherearefew betterwaysto
demonstrate commitmenttothose
valuesandsharethemwithloved
onesandfuturegenerationsthan
throughacharitablegiftinawill.
Passingonthosevaluesisjust
onereasondonors includealegacy
gifttoSickKidsFoundation, but
therearemanyotherstoo,ranging
fromsupporting TheHospitalfor
Sick ChildreninToronto where
friendsorfamilymayhavereceived
care, to trusting inan institution
thatisarichpartofthecity’s
history.But theresultisthesame:
transformingthefutureofchild
health.
Planning forthefutureisas im-
portantforindividualsandfamilies
asitis forcharities,saysMarkGold-
bloom,theFoundation’s general
counselandchief riskofficer.
“Philanthropyhashelped to
fundclinicalandresearchwork for
decades,”saysMr.Goldbloom,re-
callingthe19 54 legacygiftfromJ.P.
Bickellthathelped create theSick-
KidsResearchInstitute,Canada’s
largesthospital-based childhealth
research institute,nowhousedin
thePeterGilganCentreforResearch
andLearning.
CynthiaKettisamemberof
theSickKidsProfessionalAdvisors
Council,agroup ofleading industry
professionalsdedicated to advanc-
ingphilanthropicconversations
across Canada andproviding stra-
tegicinsightandguidance to the
Foundation.Shesaystheobjective
ofplanned philanthropyisto deter-
minewhichorganizationyou want
tosupport;howmuchyou wantto
give;whentomakethegift;and
usingthemosttax-effectivegiving
strategy, particularlyforlargegifts.
AprincipalofStewart&Kett
FinancialAdvisors,Ms.Kettsays
therearemanyestate-planning
strategiestosimultaneouslybenefit
individualsandtheFoundation.
Examplesincludegiving giftsof
shareswithunrealized capitalgains,
lifeinsurance and,in somecircum-
stances,registered accounts like
registeredretirementsavingsplans

(RRSPs)andregisteredretirement

incomefunds(RRIFs).

“Planningwillensure you divide

up yourestateina way thatmakes

senseforyou. Firstandforemost,

peoplewanttoensurethat the

nextgenerationofthefamilywill

befinanciallysecure, andthenthey

decide ontheorganizationsthat

willbe therecipientsofanyplanned

giving,”shesays.

“Therearemany waystogive,

andit’s importanttoconsiderthe

taximplicationsofeachofthose

strategies.”

Parentsshowing generosity and

discussing legacygiftswiththeirchil-

drencanalsocreate amulti-genera-

tionalcommitmenttophilanthropy,

shesays.

Whilemany peopleknow

someonewhomayhavereceived

treatmentatSickKids,forothers it’s

anopportunity to benefitallchildren

andsupporttheHospital’svision:

HealthierChildren.ABetterWorld,

shesays.

“Personally, themoreIhave

learned aboutSickKids,themore

impressed Ihave become. Everyone

whoworksthereis somotivated

andpassionate, andtheresearchers

arelookingtomakediscoveriesto

benefitchildrenallovertheworld.

It’swonderfultohavesuchan

outstandingworld-class facilityhere

in Toronto,”saysMs.Kett.

StevenAlbiani,managingpartner,

StratumAdvisoryGroup,isalsoa

memberoftheFoundation’s Profes-

sionalAdvisorsCouncil.

“SickKidsis smarttoplanfortoday

andthefuturewithdifferent typesof

gifts,”hesays,noting someofthese

includegiftsofsecuritiesandlife

insurance policieswhere tax credits

aregiventoday toindividualdonors

whiletheFoundationreapsthe

benefitinthefuture.Ontheother

hand, corporate donorscanbenefit

fromanincome deduction.

Takingadvantageofthepref-

erentialtax treatmentforestate

donationsto offset any taxesow-

ing means individualswhohave

providedforthenextgenerationof

thefamilyarehappy tosee worthy

causesalsobenefitfromtheirestate,

saysMr.Albiani.Intherightcircum-

stances,est ate donations may also

be used by eithertheest ate orthe

deceased andindifferent years.

Forpeoplewhoknow they willbe

donatingto charity,he adviseswork-

ingwithanadvisorto activelyman-

agetaxplanningandlifeinsurance

to benefitheirsandorganizations

liketheSickKidsFoundation.

“We alsodoalot ofworkwith

privatefamilyfoundationswherewe

can giftprivate companysharesto

aprivatefamilyfoundationanduse

insurance to purchase backthose

sharesandcreateliquiditysomoney

canthenbe distributed to charitable

organizations,”saysMr.Albiani.

Mr.Goldbloomadvisespeople

whoareplanningtoleave theSick-

KidsFoundationagiftintheirwillto

communicate withtheorganization.

“It’s incrediblyhelpfulforusto

planforthefuture,”hesays.

Overthe 11 years hehasbeenwith

theFoundation,Mr.Goldbloomhas

experiencedhow valuableitcanbe

ifpeoplelet theorganizationknow

about thegiftinadvance.Not only

doesithelptheFoundationplanand

investforthefutureoftheHospital,

butitalsoensuresthegiftwillbe

properlyfulfilled,includingdetails

likecorrectspellingofthecharity’s

name.

TheFoundationtakesitsresponsi-

bilitiesveryseriously,headds.

“Wemakesureanygiftlefttous

isused effectivelyforthepurposeit

wasintended,isproperlyadminis-

tered andhasapositiveimpact on

children’s health,”hesays.

Anotheradvantagetotheperson

whohasleftagifttotheFoundation

intheirwill is recognitionthrougha

plaque at theHospitalthathonours

donorsduringtheir lifetime, depend-

ingontheirwishes,throughtheJ.P.

Bickell Society.

Mr.Goldbloomsaysfamiliesoften

visitSickKidstohonourtheir loved

onesby viewingtheplaque and

witnessing first-handtheimpact of

their generosity.

“It’savery touchingwayforsome-

onetoberemembered,”hesays.

Whileplanninganestate and

drawingup a will,it’s importantto

rememberthat everygiftofanysize

helpsandisappreciated,saysMr.

Goldbloom.

“Whiletherearemany waysto

leave alegacygift, andmanydif-

ferentstrategies,wearegratefulfor

everydollar,”he adds.

SickKidsiscurrentlyraisingfundstorebuildthehospitalcampus–thiswillincludetwoadditionalbuildingsandrenovationsto

existingclinicalfacilities.Right,fromtop:MarkGoldbloom,SickKidsFoundation’sgeneralcounselandchiefriskofficer;

CynthiaKettandStevenAlbiani,membersoftheSickKidsProfessionalAdvisorsCouncil.SUPPLIED

SICKKIDS SEES

OVER 150,000

PATIENTS

EVERY YEAR

FROM ACROSS CANADA

ANDAROUNDTHEWORLD

19 CHILD LIFE SPECIALISTS

FOCUS ON THESOCIAL AND EMOTIONAL IMPACT

OF ILLNESS AND HOSPITALIZATION AND

EMBRACE THE VALUE OF PLAY FOR

PATIENTS AND THEIR FAMILIES.

SICKKIDS PERFORMS THELARGESTVOLUMEOF

COMPLEX NEONATAL SURGERIES

IN THEPROVINCE—PARTICULARLY THOSE

REQUIRING SUSTAINED LIFE SUPPORT.

1/3OFRESEARCH

FUNDING AT SICKKIDS

IS FROM DONORS,

ALLOWING SCIENTISTS TO

PURSUE OUT-OF-THE-BOX IDEAS TO

SOLVE THE GREATEST CHALLENGES

IN CHILD HEALTH.

LEGACY GIFTS HELP SICKKIDS LEAD THE FIGHT FOR CHILD HEALTH

It was inspiring

to know that

his gift would

have an impact

on the lives of

children; not just

the children of

today, but future

generations of

children.Children

are a beautiful

reminder of how

precious life is

and how a gift

like our father’s

can have a

positive impact.

MonicaBoaretto