• Introduction
• Wills & Bequests
• Gifts of Life Insurance
• Charitable Remainder Trusts
• Gift Annuities
• Gifts in Kind
• Securities
• RRSPs/RIFFs
• Unrestricted
• Endowments

Development - Wills and Bequests

There are a number of ways to leave a future gift to Athol Murray College of Notre Dame. Probably the most common and easiest way is through a bequest in your Will. A bequest is often a realistic option for making a significant contribution while maintaining future financial security. The College is able to accept and provide charitable receipts for both cash bequests and gifts in kind. Once you have decided to include Athol Murray College of Notre Dame in your Will, you should ask yourself these three basic questions:

• How much do I want to give?
• How do I want to give it?
• Where do I want it to be directed?

You can specify a fixed dollar amount. This is called a ‘specific bequest'. The advantage to a specific bequest is that you know exactly how much you are giving to the College. You can, though, decide that the College receives all or a fraction of whatever remains after all debts, taxes, administrative expenses, and specific bequests have been paid. This is called a ‘residual bequest'.

Your bequest could include gifts of cash, tangible property, securities, real estate, or retirement funds. The College provides charitable contribution receipts for all these gifts. Gifts of tangible property (also called gifts in kind) include works of art, books, other collections that are significant to you, and, in fact, any personal possession you may have.

Your gift may be either ‘restricted (designated)' or ‘unrestricted (undesignated)'. If your gift is restricted, then you've designated it for a specific purpose. If your bequest is ‘unrestricted' then it will be directed to the area of greatest need as determined by the President of the College and the Board of Regents.

Finally, you may decide that the entire amount of your gift should be spent, either immediately or over a period of time. Or you may decide that the original gift remains untouched and that only the interest or income earned is expended. This is called an ‘endowment'.

Your legal advisor will give you the advice on proper clauses in your Will depending on the type of gift you are leaving to Notre Dame. You may also call my office for further clarification and information.