BC Cancer - Partners in Discovery - Spring 2018 - 15

LEGACY GIVING

Three Generations
of Giving Back
John McCarthy is only 27, but he's
already thinking of his legacy and the
future of cancer care

he fact that the BC Cancer
Foundation is a beneficiary in
John McCarthy's will doesn't
seem unusual until you consider his
age: 27.
While planned giving is generally
something older people consider,
John is no stranger to the world
of philanthropy.
His father, businessman William P.J.
McCarthy, grandson of the late John
Jambor and creator and executor of his
estate plan, gifted an astounding $21.4
million in the Jambor-McCarthy legacy
to the BC Cancer Foundation in 2012.
At the time, it was the largest charitable bequest to a single beneficiary in
B.C.'s history. Jambor's commitment to
the BC Cancer Foundation and work
of BC Cancer began decades ago. He
established the Jambor Knowledge
Fund with $1 million in the mid-1980s.
This fund has continued to support
cancer research and education over
the span of two decades.
John McCarthy says his parents
have never boasted about their philanthropy. They taught by example.
"I observed them being charitable.
They would expose me to good deeds
done by other families and teach me
to admire and appreciate this kind of
behaviour," he says. "As I got older, I

started to learn more and more
about how philanthropic my
family has been. It made me
very proud, not just the good
work my family has done
but how quietly and humbly
they've gone about it," he says.
John acknowledges that
it may be more difficult to
give for young people, but says it's
important to get in the habit of it. "It's
a great time to plan for when you do
have more to give. I myself have only
made relatively modest donations to
the BC Cancer Foundation, but I have
left money to the Foundation in my
will, anticipating a time in the future
when I will have plenty to give back,"
he says.
Kelly Sodtka is the senior director
of Gift and Estate Planning at the BC
Cancer Foundation. She says John is
one of the youngest people she has
talked to who is already planning a
legacy gift. Having conversations about
charitable giving within families is as
important as talking to financial advisors, she adds.
"Giving back is a meaningful message to pass on to kids. It's a worthy
investment," she says. "Families who
feel fortunate often want to show
gratitude in some way. Some have a

WHAT'S YOUR LEGACY?
For more information on legacy giving at the BC Cancer
Foundation, visit bccancerfoundation.com/legacy.

John McCarthy
is following in his family tradition of
philanthropy.

personal connection to cancer and for
some it's a sense of wanting to leave
the world a better place."
John agrees that it's also important
for families to discuss planned giving.
"I think it's important for parents
to teach their children at a very young
age the importance of charity, both
specifically and as part of broader discussions on ethics. Most important is
for parents to lead by example."
"As children get older, formal and
informal discussions about planned
giving become more and more important. This is especially true when older
generations begin passing wealth
down to younger generations. If the
older generation was charitable, it
should absolutely be an expectation
that the younger generation is charitable, too."
John knows that he is fortunate to
be in a position where he can give back.
"I have a great family history of philanthropy and personally it is important to me that I live up to this legacy."

BCCANCERFOUNDATION.COM

http://www.bccancerfoundation.com/legacy http://www.BCCANCERFOUNDATION.COM

Table of Contents for the Digital Edition of BC Cancer - Partners in Discovery - Spring 2018