Gifts in Wills

Gifts in wills are the most common, and often the most straightforward planned gifts. To make a bequest to UBC, your lawyer or notary simply prepares a new will or adds a codicil to an existing will.

Benefits of leaving a gift in your will:

  • A bequest costs nothing now, yet allows you to support something you care about
  • You may change your will at any time if your circumstances change
  • You retain control and use of your assets during your lifetime, and
  • Your estate receives a donation receipt for use against 100% of your net income in the year of passing and in the preceding year. With recent tax changes, your estate may now also claim tax credits in subsequent years.

Before getting started, consider what you wish to support on campus and the type of bequest you wish to leave:

Specific Bequest: You may designate a specific dollar amount or property such as real estate, securities or artworks that you wish to leave to the university.

Residual Bequest: You may donate all or a portion of your estate to the university after all debts, taxes, expenses and other bequests (gifts to loved ones) have been paid.

Bequests are tax creditable. Your estate receives a donation receipt for the value of your bequest, which can substantially reduce or even eliminate taxes owing at the time of. For more information, please see Tax Benefits of Estate Gifts.

 

Please let us know if you have included UBC in your will. Then:

  1. We can ensure that we at UBC fully understand your gift intentions and can most effectively implement your wishes.
  2. We can advise on planning options that might help reduce your taxes or increase your current income.
  3. We would like to recognize your contribution to UBC and welcome you to the UBC Heritage Circle, if desired.

 

Where can I get more information?

If you would like to learn more about wills and estate planning, we would be pleased to help. We can answer your questions about general estate planning and provide additional information on endowments, student awards and the other gift opportunities at UBC. We also can help you, your lawyer or notary draft customized wording for your will. Please contact us.

 

Bequest Basics

View Bequest basics online

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Sample will wording

View Sample Will Wording online

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Download PDF