Giving retirement assets is one of the easiest, most tax-effective ways to support research and learning at UBC Sauder. Upon passing, the total value of your registered retirement accounts must be reported as fully taxable income, unless the funds can be rolled over to a surviving spouse or dependent child.
While retirement assets can be a costly gift to distribute, they make ideal donations to charitable organizations such as UBC. By naming The University of British Columbia as a direct beneficiary of your RRSP or RRIF, you will avoid paying probate fees on those assets. This means more of your estate goes to something important to you. A donation to UBC can also offset taxes owed on other retirement assets. You may designate UBC as a 100% beneficiary or a partial beneficiary.
Just as with RRSPs and RRIFs, it is possible to name the university as a beneficiary of your Tax Free Savings Account (TFSA).
If you prefer to make withdrawals from your RRSP and RRIF plans and donate during your lifetime, we can also help. Given that any withdrawal is considered taxable income, the UBC donation receipt will help offset taxes owing. This is particularly beneficial to those who have accumulated more in their RRSPs or RRIFs than they need and are concerned about their tax exposure.
American retirement assets
We also can accept gifts from the United States. Please contact the UBC Gift & Estate Planning Team for details about naming the university as the beneficiary of American retirement plans through The American Foundation for The University of British Columbia.