A way to give more
Making the school the beneficiary of a gift in your will is a simple means of making a larger gift than would be possible during your lifetime. It has no impact on your current assets, cash flow or your lifestyle. It can also reduce, or even eliminate, the tax burden on your beneficiaries, since your estate will receive a tax receipt for your gift. There are other ways to leave a legacy such as making us beneficiary of a life insurance policy or, in most provinces, the beneficiary of all, or a percentage of, your RRSP/RRIF or TFSA.