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Thompson Rivers University
Thompson Rivers University

Bequest

Tax Benefits

A bequest to the TRU Foundation brings a tax benefit, too. At your death, your estate is entitled to a donation receipt for the full value of your bequest. This can reduce significantly the tax payable when your final income tax return is filed. For example, Margaret J, a widow, leaves $100,000 to the TRU Foundation and the remainder of her estate to her two children. Assuming the net income on her final tax return is large enough for the entire bequest to be claimed for a charitable tax credit, the bequest may result in a combined federal and provincial tax savings of approximately $50,000. If she had left the $100,000 to her children instead of giving it to Thompson Rivers University, taxes would have consumed that part of it, leaving the children with only $50,000.

Making a bequest fit your needs and goals

Your bequest may take any of several forms. Here are some examples,
with appropriate wording.

A general bequest is for a certain dollar amount of property, usually cash: "I give to the TRU Foundation the sum of $100,000 to be used for the general purposes of the Foundation at the discretion of its directors."

A specific bequest directs that the TRU Foundation is to receive a specific piece of property: "I give the Thompson Rivers University Foundation 500 shares of XYZ stock.."

A residual bequest designates all or a portion of whatever remains after all debts, taxes, expenses and other bequests have been paid: "I give the Thompson Rivers University Foundation fifty percent (50%) of the rest, residue and remainder of my estate. . ."

A contingent bequest takes effect only under certain conditions: "In the event that my wife does not survive me, I give to the TRU Foundation the sum of . . ."

In addition to choosing the form of a bequest, you also have options as to the purpose for which your bequest will be used. Most bequests to charity are unrestricted, supporting the general purpose of the charity but you may choose to make a restricted bequest to be used for a particular program or student award. You may specify that the principle of your bequest is to be held as endowment from which only the income is expended and establish a named fund in your name or as a memorial to a family member, friend or colleague. For any of these purposes, it is important to confer in advance with a representative of the TRU Foundation to ensure that your wishes can be met and that your bequest provision is properly worded.

To include a gift to Thompson Rivers University in your will, please follow these 2 simple steps.
  1. It's important to include our full name and charity number. Without this, we may not receive your gift:
    • Thompson Rivers University Foundation
    • Charitable No. 13113 5691 RR0001
  2. Share the following clause with your legal adviser to include in your will:
    "I give_______________________(a portion or all of the residue of the estate or a specific sum) to Thompson Rivers University Foundation, charitable registration number 13113 5691 RR0001"
Let us help you - and thank you!

Whichever of these forms and purposes you choose for your bequest, the TRU Foundation is able and eager to assist you. At your request, a representative of the Foundation will be happy to meet with you and, if you wish, with your legal and financial advisors, to discuss your goals and refine the wording of your bequest.

When you have completed your will (or added a provision for the TRU Foundation to your present will), we hope you'll let us know so we can express our thanks! With your permission, we'll list your name among the growing number of those who have provided for future gifts to Thompson Rivers University where it will encourage still others to take that important step.