Wills & Bequests
Wills & Bequests
Remembering Luther College in your Will is an act that is generous, powerful, and surprisingly simple.
Leaving a gift in your Will to Luther College is one of the simplest and most flexible ways to create a lasting legacy. It allows you to make a meaningful gift to Luther College in the future without reducing your cash flow or savings today. It is also a highly effective way to reduce estate taxes which helps increase the remaining value of your estate for your beneficiaries. Perhaps most importantly, a gift in your Will is a lasting statement of your generosity and care for our students and the Luther community – a gift of which you and your family can be proud.
How does a bequest work?
A charitable bequest is a gift made through your Will that becomes available after your lifetime. Bequests are the most common form of legacy gifts made by Canadians. Your estate will receive a donation receipt for the full value of your bequest. This receipt will be used to reduce taxes owing on your final tax return.
Bequests are simple and easy to arrange and you have the right to change it at any time. Your bequest can be for a specific amount, a percentage of your estate, or the residue of your estate i.e. what’s left over after your debts, administration expenses and other bequest have been paid.
What if I already have a Will?
If you already have a Will, it is generally a simple process to revise it to include a bequest. Depending on the changes you would like to make, it may be possible to add a codicil to your Will. We suggest you speak to your lawyer on the best course of action to take.
Other Ways to Leave a Legacy Gift
Gifts of Life Insurance, Beneficial interest in RRSPs, RRIFs, Tax Free Savings Account (TFSA) and securities and mutual funds, can all help support Luther College. We are happy to talk with you if you want more information about these options.
What are my next steps?
1. Contact your lawyer about drafting or revisiting your Will, or adding a codicil. Bring the following information to your appointment:
Legal Name: Luther College, Regina
Charitable Registration Number: 10765 0061 RR0001
Contact: Maureen Harrison, Director of Development, Luther College, 306-791-9175, email@example.com
2. Discuss your decision with your family and loved ones, and be sure they know how to contact your lawyer and where you keep a copy of your Will
3. If you feel comfortable, let us know about your gift. This will allow us to add your name to our list of donors who have told us they will be remembering Luther College in their will and will give us an opportunity to express our gratitude. It will also allow us to ensure that we understand how you wish us to use your gift to support the College.