Gifts of RRSPs, RRIFs, or TFSAs
Donors who do not have a spouse and who will require the benefits of a registered retirement plan can name The King’s University as a direct beneficiary on either an RRSP or RRIF. The gift will pass to The King’s University outside the donor’s estate, but the estate will receive a tax receipt, offsetting taxes owed and potentially leaving more for the donor’s heirs.
Similar to RRSPs and RRIFs, it is possible to name The King’s University as a beneficiary of a Tax Free Savings Account (TFSA). Donors can obtain a beneficiary designation form from their plan’s provider and complete the form identifying The King’s University and including the charitable registration number 108085911 RR0001.