The William Ross Macdonald Legacy Council recognizes and honors thoughtful individuals who have indicated their intent to support Laurier with a deferred gift such as a bequest in their will or a gift of life insurance. 

Council members receive these gestures of appreciation:  

• updates on achievements and activities through annual communications  
• an opportunity to meet with other leading supporters at an annual event hosted by the President 
• the satisfaction of helping to ensure the continued excellence of the university. 

We greatly appreciate their vision in making a long-term commitment to Laurier’s continued success. 

No gift is a small gift. Each gift makes a difference.  

If you are planning to make a deferred gift to Wilfrid Laurier University, and would like to become a member of the William Ross Macdonald Legacy Council, or would like more information, please do not hesitate to contact Cec Joyal at cjoyal@wlu.ca  She would be pleased to help you.

1. Official Name and Charitable Registration Number
The university’s name is Wilfrid Laurier University located in Waterloo, Ontario, Canada. The university’s charitable number is 10820 8786 RR0002

2. Sample Will Clauses

Download different types of sample bequest clauses

3. The Importance of Gift Agreements

Whenever possible, it is our preference to establish written terms of reference or letters of intent to accompany legacy gifts. These signed agreements ensure that all parties have clear directions as to how the gift will be used. Please contact the Manager of Planned Giving for assistance. Learn more by getting in touch.

4. Review of Will Clause

It is often beneficial for the charity to review a will clause when it is being drafted to ensure that the gift can be carried out as the donor wishes. This can be done anonymously if the client prefers.

Learn more by getting in touch

It adheres to the most recent tax laws and reflects changes in your own life. For example, you may no longer have minor children at home, or someone close to you has died or become dependent. You may have grandchildren, and changes may have occurred financially that have changed your estate tax status. Whatever the case, an up-to-date will gives you peace of mind knowing your wishes will be carried out and your responsibilities met.

That is, it addresses the needs of your spouse, children, dependents and others for whom you are responsible. Further, it does good by supporting those organizations that reflect your values and concerns. We at Wilfrid Laurier University hope that includes us.

It is prepared and signed correctly, and it fully expresses your desires regarding your estate. It adequately cares for such things as guardianship, trusts and trustees, business succession, final declarations and other important matters your situation may require. When your will is complete and tucked away for safekeeping, you want to have the confidence that it was done well.

Unrestricted Gift or Bequest  I give, devise and bequeath to Wilfrid Laurier University the sum of $_____________ for uses and purposes of the university as its President and/or Board of Governors may determine.

Bequest of Residue  I give, devise and bequeath to Wilfrid Laurier University the residue (or share of residue) of my estate for the uses and purposes of the university as its President and/or Board of Governors may determine. (Alternatively, the residue may be directed to any specific purpose).

Bequest for a Specific Purpose  I give, devise and bequeath to Wilfrid Laurier University the sum of $_____________ to be used for _______________ ______________________________________________ (e.g., research, scholarships, a Faculty or School, etc).

Escape Clause  I authorize the Board of Governors of Wilfrid Laurier University to change the terms of this donation to fulfill the spirit and general intent of my wishes.

Over time, the needs of Wilfrid Laurier University may change due to revisions of program offerings, developing research interests and external considerations. For that reason, we urge donors to include the following statement in their bequest clause:

In the event that circumstances make the specified use of this gift no longer practical or desirable, the Board of Governors of the university are hereby authorized to make changes in its use in keeping, as far as possible, with the spirit and general intent of the gift.

Bequest for a Named Endowment*  I give, devise and bequeath to Wilfrid Laurier University the sum of ________________ to be used to establish a named endowment fund, the annual investment income from which will be used for _____________________(e.g., research, scholarship, a Faculty or School, etc).

Escape Clause  I authorize the Board of Governors of Wilfrid Laurier University to change the terms of this donation to fulfill the spirit and general intent of my wishes.

Over time, the needs of Wilfrid Laurier University may change due to revisions of program offerings, developing research interests and external considerations. For that reason, we urge donors to include the following statement in their bequest clause:

In the event that circumstances make the specified use of this gift no longer practical or desirable, the Board of Governors of the university are hereby authorized to make changes in its use in keeping, as far as possible, with the spirit and general intent of the gift.

Direction to Fulfill Pledge  I authorize my Trustees to pay within one (1) year of my death, those amounts which I may have promised to pay Wilfrid Laurier University or any part thereof left unpaid at my death of any amounts so promised or pledged, notwithstanding that any such promises or pledges so made or given may not be legally binding upon my estate.

*The current minimum amount required to establish an endowment is $25,000. Less than $25,000 will be set up as an expendable fund.

DO BEQUESTS GET A TAX BREAK?
Donations can be used for tax relief. Excess donations can be carried back to the prior year and the 100-per cent limitation will still apply. Careful planning can maximize the benefits for your estate and beneficiaries.

When you make an endowed gift, the capital is invested within a Laurier endowment fund.

This protected amount earns interest annually. The interest is used to (1) protect the fund from inflation, (2) create a stabilization account from which to draw in years of poor returns, and (3) to fund the initiative you are supporting through a spending allocation.

Laurier’s Board of Governors reviews and approves how much can be spent annually depending on fund returns. Laurier’s investment and spending strategies ensure your fund will continue to have the same impact in perpetuity – endowments are forever.

Laurier offers donors a choice of two investment options: a general endowment fund and a fossil-fuel free endowment fund. To learn more about these options, please contact us.

An endowment lasts forever. You may choose to name your endowment to provide lasting recognition of a person or event that is special to you.

An endowment is powerful. Because the value of your gift is protected in perpetuity, it has a much greater impact over time than if it were spent all at once.

An endowment may provide you with tax benefits, because it is considered a charitable donation. We will be pleased to work with you and your advisors to help you find the gift option that best reflects your goals.

RRSPs, RRIFs and TFSAs

Giving retirement assets is one of the easiest, most tax-effective ways to support Laurier.  Many do not realize that, upon passing, the total value of your registered retirement accounts must be reported as income. This income is fully taxable, unless the funds can be rolled over to a surviving spouse or dependent child.

While retirement assets can be a costly gift to distribute, they make ideal donations to charitable organizations such as Laurier. By naming Wilfrid Laurier University as a direct beneficiary of your RRSP or RRIF, you will avoid paying probate fees on those assets. This means more of your estate goes to something important to you. A donation to Laurier can also offset taxes owed on other retirement assets. You may designate Laurier as a 100% beneficiary or a partial beneficiary.

Just as with RRSPs and RRIFs, it is possible to name the university as a beneficiary of your Tax Free Savings Account (TFSA).

A gift is easy to make: simply obtain a beneficiary designation form from your plan’s provider and complete the form with Laurier’s legal name (Wilfrid Laurier University) and Charitable Registration Number (80340 7956 RR0001).

If you would like to designate your gift to Laurier, please make your wishes known in a separate letter. Our staff at Laurier, Legacy Giving will be pleased to help. 

A gift that pays you an income

You can make a significant gift to Laurier while maintaining or even increasing your income from assets such as cash, securities or other investments.

With a charitable gift annuity, a portion of your contribution is used to purchase an annuity guaranteeing you a fixed monthly income for life while the remainder goes directly to Laurier as a gift with immediate tax benefits.

The fixed monthly payments you receive are a combination of income earned by the investments and the capital of the original investment. Only the income portion is taxable. A gift annuity can be for one or two people, so your spouse can also receive payments for life.

In the case of Residual Interest Gifts, the donor will gift an asset with the full understanding that they will have continued access to or discretion over the use of the asset for a specified term, usually until the time of their death.

The charity will issue an immediate donation receipt to the donor at the time of the donation. The amount of the receipt will be based on the estimated present value of the residual interest of the donated asset when the donor dies. When the donor passes, the gifted asset, which has already been transferred to the charity, will not be subject to probate. Learn more

A charitable remainder trust is a deferred giving arrangement under which you may transfer property (cash, securities or real estate) to a trustee. 

The Trust  allows you to make a legacy gift now and receive an immediate charitable tax receipt, while enjoying the interest income for life.  

Benefits of a charitable remainder trust: 

• Receive lifetime income from the donated asset 
• Receive a charitable tax receipt for the net present value of the assets in the trust 
• Your gift can be kept private, as these types of gifts are not part of your will 
• Charitable remainder trusts are not included in probate 
• If all or the majority of your estate is intended for charity, a charitable remainder trust ensures you maximize your charitable tax receipts 

You have the option of creating an annual scholarship, bursary or award or establishing an endowed scholarship, bursary or award.

The minimum amounts required for expendable or endowed awards will change in the future. It’s important to plan for this when setting up a financial opportunity through a legacy gift.

Please contact Cec Joyal, Development Officer, at 519.884.0710 ext. 3864 or cjoyal@wlu.ca She will be pleased to assist you in discussing terms of reference.

All donors are encouraged to designate their gift to an area that is important to them and in keeping with Laurier’s mission and vision. In order to ensure your gift is used as you intend, we recommend you contact the Office of Advancement & External Relations early in your decision-making process.

We can work with you to both ensure that your gift is designated to match your needs and interests, and that the university is able to accept and spend the gift.