91��ɫ

When making a gift to 91��ɫ as part of your estate plan, consider designating 91��ɫ as a beneficiary of a registered account, such as a tax-free savings account (TFSA), a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF).

You may be surprised to learn that upon your passing, RRSP and RRIF funds become fully taxable as income to your estate—often at the highest tax rate—unless the funds can be transferred to a surviving spouse or other qualifying dependent beneficiary. Charitable gifts of RRSPs and RRIFs eliminate or greatly reduce the deferred tax burden on these funds at the time of passing, especially if you do not have a beneficiary.

Options

It is easy to name 91��ɫ as a beneficiary of your retirement plan by simply contacting your plan administrator for a “designation of beneficiary form” or “multiple beneficiary designation form.”

• You can designate 91��ɫ as a beneficiary of the entire amount of the TFSA/RRSP/RRIF, or you can include the University as one of many beneficiaries, specifying the amount or portion of the registered account payable to 91��ɫ.
• In most cases, it is also possible to name 91��ɫ as a “contingent beneficiary,” meaning that 91��ɫ would receive the amount if your named beneficiary or beneficiaries predecease you.

Note: Under current Canadian tax law, RRSPs and RRIFs cannot be transferred directly to a registered charity during
one’s lifetime and still be eligible for a tax receipt. Rules also differ in Quebec, so it is important to contact your plan
administrator for specific details