Gifts of Registered Retirement Funds
Gifts of registered retirement savings – Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) – allow you to make a significant gift to Queen’s while meeting your needs and those of your loved ones.
At death, the total value of the funds in your registered retirement account must be reported as income and is fully taxable to your estate unless funds in the registered account can be rolled over to a surviving spouse or a dependent child.
You can name Queen's University as a beneficiary, or an alternate beneficiary, or all or a portion of any retirement funds remaining in your account.
Benefits of Making a Gift of Registered Retirement Funds
- Your estate will receive a tax receipt for the value of the funds received by Queen’s. The resulting tax credit will help to offset tax owing on the funds by your estate.
- The funds pass to Queen’s University directly and are not subject to probate fees.
- You have the use of the registered retirement funds during your lifetime.
- The gift is easy to make – simply obtain a beneficiary designation form from your plan’s provider and complete the form with Queen’s legal name: Queen’s University at Kingston, and charity number: B/N 10786 8705 RR0001
- You have the satisfaction of arranging a meaningful gift to Queen’s that is important to you – e.g., student aid, a particular program, research initiative, or area of greatest need.
- Endow a scholarship in your name.
- Create a named fund in honour or in memory of a loved one, or someone who has made a difference in your life.
- Enhance and renew physical facilities on campus.
- Support ongoing research, or an area that is close to your heart.
contact us with your questions or for further information.
We strongly encourage you to consult with your lawyer, accountant, or other financial advisor before finalizing your planned gift.
Thank for your interest in our Gift Planning program.