Help to Secure Western's Vision for Tomorrow
Through a bequest, you can have a direct impact on the future of Western's academic excellence and create a legacy that will live on for future generations. To make a gift to Western from your estate, you must draft a new Will or add a codicil to your present Will. A bequest may be large or small, restricted or unrestricted. It can include cash, securities, real estate, other property, or a percentage of the residue of your estate.
To ensure that your wishes are honoured, a bequest should be prepared in consultation with your lawyer and discussed with the Gift Planning Office at Western.
Advantages of Bequests
- A bequest allows you to make a substantial gift in the future without diminishing your assets today.
- Your estate will receive a valuable tax credit for your final tax return. The credit can be applied to up to 100% of your net income in the year of death and the preceding year. This credit can save your estate a considerable amount of tax, particularly if you have RSPs or large holdings of appreciated assets that will be deemed to have been sold at your death. Additional tax savings can be achieved through specific bequests of appreciated listed securities and mutual funds.
- Bequests are flexible. You may make a bequest anonymously, and you have the flexibility to change it at any time.
- With bequests of $25,000 or more, you may create a named, endowed fund that will support Western forever.
Things to Consider
- What type and amount of bequest do you want to make?
- Do you want your bequest to be unrestricted or restricted?
- Do you want your bequest to be endowed or expendable?
- Do you want to be recognized or remain anonymous for your bequest?
Create Your Legacy
To ensure that your particular needs are met and that your wishes are honoured, you should consult your life insurance agent and any other pertinent advisors. You should also contact Gift Planning Office to let us know about your intentions. Not only can we assist you in making sure things move along smoothly, we also need to discuss how you would like the eventual proceeds from your insurance policy put to use. It is also important for us to know whether you wish to be recognized for your contribution or prefer to remain anonymous.
If you have made arrangements to make a planned gift to Western, we request that you send us a completed Statement of Intent (8K PDF) form so that we may ensure proper administration of your gift.
