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Wilfrid Laurier University Development
July 31, 2014
 
 
Canadian Excellence

Planned Giving FAQs



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Q: What is a planned gift?

 A: A planned gift is a tax-effective way of giving and is usually made from assets, not current income. It is probably the largest charitable donation you will ever make and is tailored to your financial situation. A planned gift of a will bequest, a gift of life insurance, an RRSP/RIF, a gift of securities or an annuity are all ways in which you can leave a permanent legacy.

Q: I would like to include Laurier in my will. What is the appropriate wording?

A: We can provide general wording to assist you in preparing your will. Simply click here to view some examples of bequest wording. While we understand and respect that some individuals prefer not to speak directly with the university about their intended bequest, we encourage donors or their advisors to contact us to request information such as the existence of a specific program, the proper name of a project, etc.
A copy of your will, or the relevant pages pertaining to your Laurier bequest, would be greatly appreciated and would ensure that your wishes are carried out when the gift is received.

Q: Is my gift tax-deductible?

A: All charitable donations made to Laurier are eligible for tax receipts. Laurier is committed to forwarding tax receipts as soon as possible following receipt of the donation. The receipt value is based on the current fair market value of the gift.

Q: What date will appear on the tax receipt of my estate gift?

A: Subsection 118.1(5) of the Income Tax Act (Canada) provides that where a taxpayer, by his or her will, has made a gift to a qualified donee, the donation will be deemed to have been made immediately before the death of the taxpayer.

Q: I donít have the means to make a large gift. Do you accept more modest investments?

A: Laurier is pleased to accept gifts of all sizes. We know and respect that any philanthropic decision must take into consideration your personal and family needs. We have received a range of planned gifts and all are equally valuable. Every investment from every donor is valued for its thoughtfulness and generosity. Regardless of size, every gift helps students.

Q: I would like to set up a scholarship or bursary. How do I do this?

A: We suggest that you contact the Development Office to discuss a donation toward a scholarship or bursary. You have the option of creating an annual award or establishing an endowed award; they will be pleased to assist you in discussing terms of reference for your award.

Q: What types of gifts are accepted?

A: Laurier accepts many different types of charitable gifts ranging from gifts of cash to gifts-in-kind. Click here for details on gift options.

Q: What happens to my bequest or gift if the designated program ceases to exist after the funds have been received?

A: If a gift cannot be applied for the purpose expressed by the donor, the funds may be used for other related purposes as approved by the Wilfrid Laurier Universityís Board Of Governors. The Board gives utmost consideration to the original wishes of the donor.

Q: I have very specific ideas about how I would like my gift spent. Can you accommodate my wishes? 

A: All donors are encouraged to designate their gift to an area that is important to them and in keeping with Laurierís mission and vision. In order to ensure the viability of the proposed gift, we recommend you contact the Development Office early on in the decision making process. Should the proposed designation be unacceptable as per the Universityís Gift Acceptance Policy, we can suggest an alternative designation that closely matches your needs and interests.

Q: I wish my gift to remain anonymous. Is this possible?

A: We are aware that many individuals prefer their gift remain anonymous. We will certainly respect and honour your wishes in this regard.

Q: What happens if I tell the University about a bequest and then canít follow through on this gift?

A: We realize that circumstances can change throughout the course of your lifetime. We do not plan on the gift in a financial way. We understand that all planned gifts take into consideration your personal and family circumstances. When these change, so do your estate plans. Good estate planning requires you to keep making changes that reflect your current circumstances.

Q: If the University isnít going to receive my gift for a long time, why do they need to know now?

A: It is important for the University to receive information about your planned gift. Records established with the campus ensure your exact wishes are carried out when the gift is received. Knowing in advance of your intentions also permits us to thank and recognize you during your lifetime and allows us the opportunity to let you know how your generosity will impact our students. Sharing this information also provides a wonderful testimonial to encourage others to support WLU in this way.


For more information please contact:

Cec Joyal Ď86

Development Officer
Individual and Planned Giving
(519) 884-0710 Ext 3864
cjoyal@wlu.ca