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Establish a charitable gift in your will

Create a legacy at the University of Calgary.

Your legacy gift can be designed to suit your interests and needs. Below are a variety of commonly used gift-planning tools, as well as the benefits each option provides.  

If you are considering a legacy gift to the University of Calgary, we strongly encourage you to seek professional financial and legal advice that takes into account your unique circumstances. We also urge you to discuss your gift with a University of Calgary representative prior to finalizing the details of your gift arrangement.

For more information, contact:

Sherry Dahl
Director of Development , Legacy Giving & Major Gifts
(403) 210-3873
sdahl@ucalgary.ca

Bequests
A bequest (transfer of cash, securities, or other property through a will or a living trust) to the university is a flexible, tax effective way to leave a legacy of learning. Through your estate, you are able to make a gift that may not have been possible during your life. By naming the University of Calgary to receive a gift in your will, your estate will generate tax credits that may offset any taxes payable. You can choose to leave a specific amount, a percentage of your estate, or a portion of what is left after you have made specific bequests to your family and others.

By telling us now that you have included the University of Calgary in your will, you make it possible for us to recognize your generosity today.
If you prefer to be anonymous, we will respect your wishes, but encourage you to have a conversation with us beforehand.

We have a number of services and tools available, including recommended wording for your will.

Charitable Trusts
If you wish to give assets to the university through your will, but would like to receive tax benefits today, consider one of these two charitable trust agreements.

With funding from cash, securities or real estate, you may create a charitable remainder trust with a trust company or individual named by you. The remainder interest of the fund is donated and held in trust for the University of Calgary. You retain the income interest for life.

When you donate property such as a residence or art work to the university, but continue to enjoy possession of the asset, the arrangement is called a charitable residual trust.

  • Donations of remainder and residual interest are irrevocable and, therefore, eligible for an immediate tax receipt in the present value of the interest.
  • The value of the tax receipt is based on the market value of the property at the time of transfer, the applicable discount rate and your life expectancy.
  • Because trust assets are not included in the value of your estate, you will save taxes and probate fees and your wishes will be less susceptible to challenge than a gift by bequest.

Charitable trusts should name as beneficiary the University of Calgary.
Contact us if you would like to see sample trust wording.

Gifts-In-Kind
Over the years, the University of Calgary has received many generous donations of books, art, equipment, software, and other property, including real estate -- all in keeping with the University's comprehensive policy on gifts-in-kind.

  • Gifts-in-kind are eligible for a tax receipt for the fair market value of the gift. You can offset or even eliminate taxable capital gains on appreciated assets by electing to receive a lower-value tax receipt.

  • Your gift of cultural significance may be eligible for certification as a Canadian cultural property. There are no taxable capital gains on gifts of certified Canadian cultural property and the receipt can be applied against 100% of your net income in the year of the gift or for up to five years in the future.

Gifts of Registered Assets
For many people, Registered Retirement Plans (RRSPs, RRIFs) and company sponsored pension plans may be their single biggest assets beyond their homes. Withdrawals from these funds will be taxed. Upon death, the funds may pass only to spouses, dependent children and to charity without incurring taxation. If you name the University of Calgary as beneficiary of your funds, your estate will receive a tax receipt for the entire amount of the gift.

Gifts of Shares
Gifts of publicly listed securities may include stocks, bonds, bills and mutual funds. There is no capital gains tax on securities given to charities, and you will receive a tax receipt for the market value of your gift.

  • Gifts of publicly-traded securities to the University of Calgary can be made as a direct transfer of funds from your account to the University’s brokerage account. Or, you may simply deliver your endorsed stock certificate to the university.
  • Gifts of publicly-traded securities are eligible for a tax receipt for the fair market value of the gift as assessed at close of the market on the date of transfer or delivery.
  • It is the university's policy to sell gifted shares as quickly as possible. Proceeds of the sale equal to the value at donation will be transferred to your chosen program or project.

Find out how to make a gift of shares.

Life Insurance Policy
When the university is beneficiary of your life insurance proceeds, your estate is eligible for a charitable tax receipt. You may name the University of Calgary owner and beneficiary of a policy and receive a tax receipt for the cash surrender value of the policy, and a tax receipt for any additional premium payments made after the policy is assigned.

Benefits of gift planning tools 

Type of Gift                Benefit to you
Bequest Possible estate tax deduction; opportunity to make a perpetual gift.
Charitable Trusts Variable or fixed income; deferred income possible if desired; possible income and estate tax deductions.
Gifts-in-Kind Tax receipt for fair market value of gift; offset or even eliminate taxable capital gains on appreciated assets by electing to receive a lower-value tax receipt
Gifts of Registered Assets Possible estate tax deduction.
Gifts of Shares No capital gains tax and receive a tax receipt for fair market value of gift.
Life Insurance Policy Income tax deduction for value of the policy when transferred; premium payments may be deducted as gifts; possible income tax and estate deductions.

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