There are many ways to support Dalhousie through your estate. Here are the most common types of legacy gifts:

A gift to Dalhousie in your will, also called a bequest, makes a lasting impact. A bequest is the most common way to make a gift in your will. There are several types of bequests to consider:

  • Specific bequest: A gift of a set amount of money or a specific asset, such as property or securities.
  • Residual bequest: A gift of all or a share of whatever is left in the estate after expenses and other legacy gifts have been distributed.
  • Contingent bequest: A gift to Dalhousie only if a certain event occurs (if the primary beneficiary does not survive the donor, for example).

Tax benefits
A charitable bequest to Dalhousie may provide a significant tax advantage for your estate.

Donating life insurance as a charitable gift may allow you to make an even larger donation to the university than you thought possible. You can make Dalhousie the beneficiary and/or owner of an existing life insurance policy or you can purchase a new policy for this purpose. This type of gift enables you to support Dalhousie in a meaningful way, without reducing the assets in your estate.

Tax Benefits
Giving a gift of life insurance has potential tax benefits in your lifetime or for your estate.

You can name Dalhousie as a direct beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF).

Tax Benefits
Naming Dalhousie as the beneficiary of your RRSPs and RRIFs has the potential for significant tax savings for your estate.

A charitable remainder trust allows you to arrange your legacy gift now and receive an immediate charitable tax receipt. You can name Dalhousie as the remainder beneficiary while enjoying the interest income throughout your lifetime.

Tax Benefits
This type of planned gift has the potential of providing lifetime tax benefits or estate tax benefits depending on the configuration of the trust.

 

We recommend that you consult with a financial and/or legal professional to fully understand the tax and estate considerations of your legacy gift to Dalhousie.

To learn more about how you can make an even greater impact with an estate gift, connect with our Advancement team at legacy@dal.ca.