A planned gift to Waterloo can offer a special opportunity for you to demonstrate leadership, achieve your philanthropic and financial goals, and lower your personal income and estate taxes.
Charity/BN Registration # 119260685 RR0001
Legal name: University of Waterloo
Address: 200 University Ave. W., Waterloo, ON, Canada N2L 3G1
What happens to your estate when you don't have a Will?
Waterloo alum and estate-planning lawyer Keith Masterman (BA ’84) tells us in The importance of having a Will
Leaving a legacy
A gift in your will becomes part of your life story. Karen Wilkinson (BA ’90, MAcc ’90) is a proud alumnus of the University of Waterloo. To help future students, she included a gift to Waterloo in her will. Through her estate, Karen will provide resources for generations to come and create a legacy of giving.
Types of planned gifts
Bequests and estate residuals
When making or revising your will, consider how a bequest can provide a lasting legacy of support for the University.
Gifts of RRSPs/RRIFs
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.
Gifts of life insurance
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.
Gifts of shares
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.
Charitable gift annuities
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.
Charitable remainder trusts
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.
Documents and links
The Government of Canada offers information on will preparation by province, finding a lawyer by area, and tips on safety: https://www.canada.ca/en/financial-consumer-agency/services/estate-planning/will-estate-planning.html
- Visit our Will Power web page
- Learn about the tax advantages of charitable gifts
- Print off the Personal Information Record to keep track of your important documents (PDF)
Questions? We can help
Planning to include the University of Waterloo in your estate? Want to learn more about the benefits and resources available to you, including tax benefits and membership in the Laurel Society?
Contact Joanne Stewart