Confirming a bequest in your will as part of your estate planning provides you with an opportunity to make a special gift to the University of St. Michael’s College once your needs and those of your loved ones have been met. Benefits of making a bequest include the following:
You have the use of the asset during your life. A bequest is a tax-effective way of supporting USMC as it reduces taxes owed by your estate. A bequest is revocable and can be modified if your financial circumstances change. When planning your bequest you may choose to:
designate a residual amount—for example, a share or a percentage of your estate; designate a specific dollar amount or item. Sample bequest wording: "To pay the University of St. Michael's College the sum of $________ [or ___% of the residue of my estate]. It is my wish that this gift be used for the purposes and designs deemed appropriate by the President of the University of St. Michael's College or their designate." For more information about making a bequest to the University of St. Michael’s College (or if you wish to direct your gift to a specific area or for a specific purpose), please contact Ana Maria Faria, Director of Development, for a confidential conversation at 416-926-7259 or anamaria.faria@utoronto.ca.