Earlier this week, I met a client for lunch who told me about a video he had seen online about granting a middle-aged man’s wish to drive a Mclaren F1 around a closed circuit track for a few laps; he had a very strange condition and the only long term fix was to get a donated organ.
Next thing you know, we’re having a heated conversation about the idea of opting in or out of donating organs – did you know that the UK, Spain, Austria, Sweden, France, Chile and Brazil have swapped the opt-in format we’re used to here for what is know as the ‘presumed consent’ (opt-out) approach to donating your organs? The idea is that most wont take the time to register as an organ donor, even if they want to be – but those who don’t will make the time to opt out.
My initial reaction was and still is pro ‘opting out’ as it means that more organs are available to save lives. On the other hand, it raises ethical questions about the rights we have over our bodies after death, and how we respect the wishes of those who do not want to donate – hence the heated conversation.
Later that afternoon, I opted in and registered as an organ donor at www.beadonor.ca (everything except for my eyes and skin) and now someday, I may save up to eight lives and enhance up to 75 others. It’s a part of my lasting legacy and an acknowledgment on my part that we leave these legacies in more ways than one.
As most of you know, I am the type of investment advisor who goes beyond investment advice to address the wide range of concerns related to my clients’ financial and life goals and the topic of legacy comes up often when discussing estate planning strategies to help protect their wealth, preserve the value of their estate and tax-effectively transfer wealth from one generation to the next.
Aside from how you live your life, there are numerous ways you can position your estate to leave a lasting legacy for those you love or to an organization or charity that has influenced your life (i.e. those who you love more than the CRA).
Coincidentally, the month of April is dedicated to increasing awareness for organ and tissue donation and this week in particular (April 20-27) is National Organ & Tissue Donation Awareness Week in Canada – it must be a sign. Learn more here and please take the time to check out the following amazing charitable foundation initiatives: Lawn Summer Nights, 65 Red Roses & The Friends for Life Foundation.
Enjoy the weekend (I'm off to Deerhurst for the WOA Corporate Yogi Spring Yoga Retreat!)
D.
Dian Chaaban
Investment & Wealth Advisor
Chaaban Wealth Management Group
416.842.4234