Gifts by Beneficiary Designation

It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out. Residents of Quebec will need to make arrangements in their wills to direct the proceeds of retirement funds to the university.

RRSP

Many people choose to name Carleton as a beneficiary of a retirement fund to reduce their taxes while giving to students – who can change the world.

Benefits:

• Reduce or eliminate taxes on retirement assets.
• Remove highly taxable assets from your estate by direct beneficiary designation.
• Reduce or avoid probate fees.
• No cost to you now.

To name Carleton as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.

Life Insurance Policy Gift

If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift while also enjoying tax savings during your lifetime.

Benefits:

• Donate ownership and receive a charitable income tax credit for the market value of the policy.
• Receive additional tax benefits by making annual gifts so that we can pay the premiums.
• Some donated policies can be cashed in and put to good use right away.
• Normally, Carleton will retain a donated life insurance policy to maturity.
• If you retain the policy and name us as beneficiary, the proceeds of your policy will be paid to Carleton and your estate will receive the tax credit from the charitable gift receipt.

Savings Bonds

If you have bonds that have stopped earning interest and that you plan to redeem, you will owe income tax on the appreciation. In the end, your heirs will receive only a fraction of the value of the bonds in which you so carefully invested. Since Carleton University is tax exempt, naming us as a beneficiary ensures that 100 percent of your gift will go toward enriching students’ higher education.

GICs, Bank Accounts, and Brokerage Accounts

One of the easiest ways to leave a legacy gift for Carleton University is to name us as a beneficiary of a Guaranteed Income Certificate, a chequing or savings account, or brokerage account.

Donor Advised Fund Residuals

Final distribution of contributions remaining in a Donor Advised Fund is governed by the contract you completed when you created your fund. We hope you will consider naming Carleton University as a “successor” of your account, or a portion of your account value.