Planned Giving
Help Queen Margaret’s School move tradition forward while providing a tangible financial award to you and your loved ones. Planned giving can reduce income, capital gain, and estate taxes while providing you the satisfaction of contributing to place where students learn, thrive and are eager to meet their full potential.
What is planned giving?
- a gift made after considerable consideration through a financial or estate plan
- a gift made from assets, not current income
- a gift that has tax advantages under current Canadian law
- a gift that requires some type of legal documentation
Planned Giving Options
Wills and Bequests – Remembering QMS in your will in one of the simplest ways to continue our school’s tradition. Your gift can be a specific asset, a fixed amount or a percentage of your estate. A bequest has no effect on you financially in your lifetime, but your surviving heirs will receive a tax receipt for the full amount of the donation, which may offset capital gains or other taxes due.
Securities – Changes in Canadian tax laws in May of 2006 have made giving securities an attractive option. If you donate stocks, mutual funds and other securities to QMS, you will
pay no capital gains tax as well as receive a tax receipt for the full amount of the gift.
Life Insurance – A life insurance policy can create a substantial gift to Queen Margaret’s School while providing the donor with tax benefits. Options include naming QMS as the owner and beneficiary of either a new or existing life insurance policy.
Retirement Funds – By naming QMS as the beneficiary of your RRSP, RRIF or pension fund, your estate will receive a receipt to offset taxes due when they are distributed.
Real Estate or Personal Property – When you donate personal property such as commercial, residential or vacation real estate you will receive a tax receipt for the full fair market value of the property at the time of the donation.
Wills and Bequests
Remembering Queen Margaret’s School in your will is one of the simplest ways to continue transforming lives long after you’ve gone. Your bequest may come in the form of a percentage of your estate, a specific cash amount or assets such as securities or real estate. There are significant benefits associated with leaving QMS in your will:
- you will make a meaningful difference to QMS without feeling any financial impact in your lifetime;
- your gift can be made for any amount and at any age; and,
- it can be an effective way to reduce estate taxes.
How do I make a gift to Queen Margaret’s School in my will?
Remembering QMS in your will is a simple procedure. Ask your lawyer to include a clause in your will naming Queen Margaret’s School as a beneficiary. Gift options include: a bequest for a specific amount of money; one for a specific asset (such as real estate or securities); or, you can choose a residual bequest, some or all of what is left of your estate after other beneficiaries are taken care of. You may designate your gift to a specific program, or purpose, or you can allow Queen Margaret’s School to put it to work where it is most needed at the time.
As everyone has differing financial circumstances, we recommend you consult your financial and legal advisors to discuss the preparation of a valid will and how your donation to QMS can limit your estate’s tax liability.
If you are considering a leaving a lasting gift to our school, please contact Courtney Gillan, Executive Director, Admissions & Advancement at 250-746-4185
