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Bequest benefiting library assists planning

Giving is easy when it comes to estate planning

A long-time resident of Powell River, Vernon T. (“Andy”) Collings, has left a $40,000 bequest to Powell River Public Library toward construction of a new library.

“This very generous gentleman identified a critical need in his community and decided to do something about it,” said Charlie Kregel, chief librarian. “The money comes at a critical time in our planning for the new facility.”

Designating the library as a recipient in a bequest is an easy thing to do. There are several ways to do it. Powell River lawyer, Milda Karen-Byng is the executor of the Collings’ estate. “You could designate the library as a second beneficiary in case your first beneficiaries predecease you,” she said. “There could also be tax advantages to making a charitable donation for those who have RRSPs or RRIFs or other taxable assets in their estates.” Karen-Byng suggests that people wishing to know more about planning their estate should consult with an estate planning specialist. Most lawyers can provide this service.

“There are so many great ways to contribute to the library,” said Kregel. “We are grateful to Mr. Collings and pledge to put his gift to good use.”

To learn more about ways to give to the library, interested readers can visit the website.