Wills and future gifts

When making or revising your will, consider how a bequest can provide a lasting legacy of support for the University.

By designating the University as a beneficiary of RRSPs and RRIFs, the asset is transferred to Waterloo, and the estate receives a tax credit to offset the tax on income. Since the asset passes outside the estate, no probate fees are payable, which results in further savings to the estate.

Life insurance is an economical way to give a larger and more lasting gift to Waterloo than might otherwise be possible without drawing on your assets now or depleting your estate. If structured correctly, your gift will not be included in the value of your estate and you will therefore avoid probate fees.

There is a real advantage to making a bequest of shares to the University. Your estate receives a charitable tax receipt for the fair market value of the shares (at the time they are received) and your estate is not required to declare any resulting capital gains on income.

A gift annuity combines your gift to the University with an annuity. The University purchases the annuity on your behalf through a licensed life insurance company. Your guaranteed annuity payments continue throughout your lifetime, unaffected by changes in the economy or interest rates. The annuity can be written to cover both you and your spouse for life, or for a specific number of years.

A charitable remainder trust is a deferred giving arrangement under which you may transfer property (cash, securities or real estate) to a trustee.

Gifts-in-kind are tangible property including works of art, books, real estate, equipment and collections. Donations of gifts-in-kind may significantly reduce your income tax payable, and charitable receipts are issued for the fair market value of the property.