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Why Give | Impact stories

Alumna nurses education with RRIF gift

“When it comes to taxes and the government, you can give voluntarily or involuntarily,” says UBC alumna Vivian Lucas.

Born in Winnipeg, Vivian graduated with a B.Sc. in Nursing in 1967. Now comfortably retired, she has decided to use planned giving as a way to support her alma mater and simultaneously take advantage of a few tax benefits. The strategy involves using a portion of her Registered Retirement Income Fund (RRIF) to create a gift for the School of Nursing.

Vivian credits the world-class education at UBC for helping her succeed wherever life took her. After graduation, she began working at Vancouver General, but later moved when her husband accepted a position in Sudbury.

“I thought, oh my god, moving to Sudbury, but it was the best thing in the world,” says Vivian. “We moved every two years after that, but this gave a great background. And my education at the University of British Columbia helped me adapt and find work every time. They taught me to think and problem solve, not just perform tasks like a widget.”

As a retired nurse, Vivian is passionate about the value of education over training, and while her gift will help prepare a new generation of nurses, she’s quick to point out that planned giving has some very real benefits.

“If you have an RRIF that’s over $15,000, the government is going to grab back 30%. Plus, my RRIF puts me in another tax bracket. Gifting this money as a donation means I still have to pay tax, but it’s deductible from my estate as a charitable gift. Plus, I get to decide how my savings will be used—voluntary versus involuntary!”

Vivian moved to British Columbia with her family when she was three years old. “I was raised in Burnaby. My father was an engineer, but my mother only had a grade eight education, so she was really interested in anything I wanted to do academically. I always appreciated my parents for letting me do what I wanted by way of education.”

Designating UBC as a full or partial beneficiary of your RRSP, RRIF or other retirement plan is easy. Because the funds transfer outside of your estate, they are not subject to probate fees. In addition, taxes owed on retirement assets will be offset by the tax credits generated from your donation. And, you can direct your gift to something you care about at UBC. Ask us how.