Gifts in wills

Resources for professional advisors

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

Why should I make a bequest to UBC in my will?

A bequest costs nothing now, yet allows you to support the people and the things you care about—family and friends first!—and create a legacy for yourself in the future.

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 bequest can be large or small. You don’t need to be wealthy to include a bequest in your will!

Your estate receives a donation receipt for use against 100% of your net income in the year of your death, in the preceding year, and in any of the five subsequent years when taxes are owed, which can substantially reduce or even eliminate taxes owing at the time of your death.

UBC has the widest range of possible areas to give – whatever your passion, you can find it here. Your support and generosity will be used to create the best possible future, advancing new discoveries and educating our next leaders.

Now and many years in the future, you can be sure UBC will be dedicated to, and at the forefront of, excellence in education, addressing pressing societal issues, and providing research to advance humanity.

What else do I need to know about bequests to UBC?

You can designate your gift to any area of passion you choose. You can leave your gift undesignated, to the university’s priority area at the time of your passing. That will ensure it’s used for novel research or to support students who are facing unforeseen challenges. Or you can choose any of UBC’s Faculties or research areas to receive your gift, in line with your own education or area of passion. Get in touch with us and we can help you find the perfect match!

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.

Useful to know:

• 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 the remainder or a portion of the remainder of your estate to the university after all debts, taxes, expenses and other bequests (gifts to loved ones) have been looked after.
• Expendable funds: These are used in their entirety, generally within a relatively short time frame. Some larger expendable gifts are used over longer periods.
• Endowed funds: These provide income every year in perpetuity to carry out the designated purpose of the fund. Note that endowed funds have minimum required amounts. Please speak with a member of the Gift & Estate Planning staff if you are considering a bequest to establish an endowed fund.

How else can I donate to UBC in my estate planning?

Giving to UBC via a bequest isn’t the only way you can include UBC in your estate plans, create a legacy, and receive the tax benefits of giving.

Consider making UBC the beneficiary of your registered funds, such as RRSPs, RRIFs, or TFSAs.

UBC can also accept gifts of real estate, personal property or securities.

And we have foundations around the world that can accept your gift on our behalf so you can realize the tax benefits of giving from the US, the UK and Hong Kong.