A Lasting Legacy

  • April 14, 2021

Look ahead to the future. Leaving a charitable gift as part of your estate plan to help the students of UFV provides the satisfaction of knowing you have made A Lasting Legacy.

Income Tax and Estate Tax reduction

Join us for a Income Tax and Estate Tax reduction webinar!

Wills

Benefits of making a gift in will:

  • Make a gift without impacting your current finances; and
  • Create tax benefits for the other beneficiaries of your estate.

Types of gifts in will:

  • Gift of Residue: Give a percentage of the residue (total assets less taxes, debts & cash bequests) of your estate; and
  • Specific Bequest: Set aside a certain dollar amount or a specific piece of property such as an investment account or a particular stock.

What to do next
As part of making your will, or revising an existing will, you will likely meet with a lawyer or a notary public. In order to leave a charitable gift through your will, it is important that you include the full legal name of the charity.

Our Legal Name: University of the Fraser Valley
Our Charitable Registration Number: 107403701RR0001

The paragraphs below provide sample language which may be helpful to you and your lawyer as you make or revise your will.

Residual Bequest for UFV:

I give to the University of the Fraser Valley _____% of the residue of my estate to be used for ______________________.
Bequest of a specific amount for the University of the Fraser Valley:
I give to the University of the Fraser Valley the sum of $______ from my estate to be used for ________________________.


 

Life Insurance

Please contact your life insurance provider and Natalina MacLeod at UFV. Working together, we will arrange a beneficiary designation. You may already own a life insurance policy which you could designate or you may wish to purchase a new policy. Purchase of a new policy may require health screening to determine your insurability.

Our Legal Name: University of the Fraser Valley
Our Charitable Registration Number: 107403701RR0001

We will issue a charitable tax receipt to your estate when we receive payment from the insurance company.

Trusts

Benefits of setting up a trust:

  • You are entitled to a donation receipt that can be used to reduce your taxes
  • You retain the income generated by the property
  • You are free from investment decisions
  • Probate and other estate costs can be avoided
  • As the assets pass outside of the estate, they are not normally subject to challenge

 

Contact Natalina MacLeod for more information: natalina.macleod@ufv.ca.