Types of Planned Gifts

In Canada the remaining value of RRSPs/RRIFs become fully taxable as income in the year of death unless they are rolled over to a surviving spouse or dependent child. To help offset this tax burden, your estate can claim charitable donations of up to 100% of your net income.  

To facilitate this, you can name Toronto Metropolitan University as a sole or joint beneficiary of your RRSP or RRIF by requesting a beneficiary designation form from the financial institution that manages your funds. A charitable tax receipt for the value of your gift will be issued to your estate upon your death.  

RRSP/RRIF gift intentions can be confidential and can be revoked at any time if your personal or financial circumstances change.

Have you already designated Toronto Metropolitan University as a beneficiary of your RRSP/RRIF?  Please let us know so that we can properly thank you and welcome you as a member of the Legacy 1948, a group of members who have made a future provision to Toronto Metropolitan University through the establishment of a gift in their estate plan.

If you would like to notify us of your intended gift please fill out this Planned Gift Confirmation Form or contact Mira Claxton at mira.claxton@torontomu.ca.

Gifts of life insurance can be combined with other forms of giving to establish a lasting legacy for future generations of our students.  You can leave a significant legacy with a gift of life insurance, much larger than the total of your premiums.

There are several ways to make a gift of life insurance to Toronto Metropolitan University:

1. You can purchase a new policy and name Toronto Metropolitan University as the owner and beneficiary. The premiums you pay for the policy can qualify for a charitable tax receipt.
2. You can transfer ownership of an existing life insurance policy to Toronto Metropolitan University. You will receive a charitable tax receipt for the fair market value of your life insurance policy at the time of the transfer.
3. You can name Toronto Metropolitan University as a beneficiary of an existing life insurance policy. Your estate will receive a charitable tax receipt in an amount equal to the proceeds paid to Toronto Metropolitan University.

A gift of life insurance can be confidential because the gift occurs outside of your will and probate.

Have you already made a gift of life insurance to Toronto Metropolitan University? We would appreciate you letting us know so that we can properly thank you and welcome you as a member of the Legacy 1948, a group of members who have made a future provision to Toronto Metropolitan University through the establishment of a gift in their estate plan.

If you would like to notify us of your gift please fill out this Planned Gift Confirmation Form or contact Mira Claxton at mira.claxton@torontomu.ca

A charitable gift annuity enables you to give a lump sum to Toronto Metropolitan University and receive periodic income in return, usually on a monthly, semi-annual or yearly basis. It’s designed for retirees and is most beneficial for those aged 70 or over.

To establish a gift annuity you make an irrevocable gift of capital to Toronto Metropolitan University. A portion of the funds (a minimum of 25 per cent) becomes an immediate donation for which a charitable tax receipt is issued. The remainder of the funds are used by Toronto Metropolitan University to purchase an annuity from a reputable licensed commercial insurance company. The annuity pays the donor a fixed annual income the value of which is dependent on interest rates, your age and the size of your gift. Upon your death, the remaining balance of the funds will be used for the intended purpose at Toronto Metropolitan University.

If you decide to donate with a charitable gift annuity, we would appreciate you letting us know so that we can properly thank you and welcome you as a member of the Legacy 1948, a group of members who have made a future provision to Toronto Metropolitan University through the establishment of a gift in their estate plan.

If you would like to notify us of your gift please fill out this Planned Gift Confirmation Form or contact Mira Claxton at mira.claxton@torontomu.ca.

Toronto Metropolitan University accepts gifts of publicly-traded shares and mutual fund units. Toronto Metropolitan University also accepts flow-through shares. Please first consult with your financial advisor to decide if this option makes the most financial and philanthropic impact for your particular circumstances."

Rather than selling securities and donating the sales proceeds to Toronto Metropolitan University, electronically transferring your securities donation directly to the university’s brokerage account may result in a better tax benefit.

The charitable receipt value of the shares will be based on the closing trading price on the day that Toronto Metropolitan University receives delivery of the shares.

Talk to your financial advisor about what would be most beneficial for you, as in some cases, donating shares with capital loss may be advantageous.

Please contact us for further details and we will be happy to provide you with the information you and your broker need to make your donation of securities easy for you.

 (PDF file) Donwload the Gift of Securities form.

Many of our alumni, friends, faculty and staff have included a gift to Toronto Metropolitan University in their wills, and we are honoured to be thought of in this way. These planned gifts come in contributions of all sizes, and can be designated however you wish – to student financial assistance, to your school, faculty or to the area of greatest need.

Wherever you choose to direct your support, your legacy or the legacy of someone close to you will live on through your gift and the inspiration and opportunities it creates for students and the university.

For further details about making a bequest, please visit our Sample Bequest Language page. For those intending to make a bequest to the university, please send us a Will Confirmation Form, so we can properly say 'Thank You'.