Create an impact with your personal property
When you make a gift of residual interest, you donate your personal property to the University of Toronto now and continue to use it for the rest of your life. You also receive an immediate tax benefit. These donations can include assets such as real estate.
Benefits of a planned gift of residual interest:
- You continue to use the property for life.
- You receive a charitable tax receipt for the net present value of the property when the gift is made.
- These gifts are not included in probate and provide privacy, as they are not part of your will.
- If all or the majority of your estate is intended for charity, then a gift of residual interest is a way to ensure you maximize the use of your charitable tax receipts.
At the end of the term of the agreement, typically upon death, the University will either liquidate the property or add it to its assets, depending on your agreed upon wishes.
The King's College Circle Heritage Society recognizes alumni and friends who have remembered the University through a provision in a will or other form of planned gift.
If you have left a gift in your will, please let us know.