Planned Giving

1. What is a planned gift?
A planned gift is a charitable donation arranged during your lifetime, but given to a beneficiary - like Albert College - after your passing through your estate or will.

2. Why should I consider a gift in my will?
Including Albert College in your will allows you to leave a lasting legacy and support the future of the school. It may also provide valuable tax benefits for your estate.

3. What types of future gifts can I make?
There are many meaningful ways to leave a gift to Albert College, including:
• A gift in your will
• A gift of securities (stocks, bonds, mutual funds)
• Life insurance policy proceeds
• Retirement funds (RRSPs, RRIFs)
• Charitable remainder trusts

4. Can I choose how my gift will be used?
Yes! You’re welcome to direct your gift to an area that’s important to you - such as scholarships, academic programs, arts, athletics or facilities. We’d be happy to talk through the options with you.

5. What if I already have a will?
You can easily add Albert College as a beneficiary by updating your will or adding a codicil (a simple amendment). A lawyer can guide you through this quick and easy process.

6. Will my family still be taken care of?
Absolutely. Your future gift is entirely flexible and meant to reflect your personal priorities - ensuring your loved ones are looked after while still supporting the causes that matter most to you.

7. Do I need to tell Albert College about my gift?
You’re under no obligation to notify us, but we would love to know! Sharing your plans allows us to thank you during your lifetime and ensure we understand your wishes.

8. What if my circumstances change?
We understand that life changes. Your gift is not binding, and you can adjust or update your will at any time to reflect your evolving situation or priorities.

9. Who can I talk to for more information?
If you're considering a future gift to Albert College, we’d be honoured to speak with you about your goals and how your legacy can make a lasting impact. Please contact Melanie Barrett, Director of Development, by email: mbarrett@albertcollege.ca or phone: 613-968-5726 ext. 2254 a confidential conversation.

In addition to creating a lasting legacy, leaving a gift in your will to Albert College can provide significant tax benefits to your estate. Because Albert College is a registered Canadian charity, your donation may offset taxes owed on your final income tax return, potentially reducing the financial burden on your estate and leaving more for your beneficiaries.

In Canada, charitable gifts made through your will are treated as if they were made in the year of death. This means your estate can claim donations of up to 100% of your net income in the year of death - and the year preceding - providing meaningful tax savings.

Everyone’s financial situation is unique, so we strongly recommend speaking with your financial advisor, lawyer, or accountant to explore your options and determine what makes the most sense for your estate plans. A future gift to Albert College can support students for generations to come - while also supporting the people you care about most.

A gift in your will is a thoughtful and impactful way to support Albert College while still meeting your personal and financial goals. Here are a few key things to know:

• Considers Your Personal and Family Needs
  Your future gift can be structured in a way that ensures your loved ones are cared for first. It’s a flexible option that reflects your values and priorities.
   

• Tailored to Your Unique Financial Situation
  Every legacy is different. Your gift can be designed to suit your circumstances—large or small, simple or more complex—so it aligns with your goals and capacity.
   

• Often Made from Assets, Not Current Income
  Legacy gifts are typically made from your estate, such as through a bequest in your will, life insurance, or retirement funds—allowing you to make a meaningful contribution without affecting your current finances.
   

• A Tax-Effective Way of Giving
  Gifts to registered charities like Albert College can reduce the taxes owed by your estate, potentially leaving more for your heirs and the causes you care about.
   

• Leaves a Lasting Legacy
  Your gift will have a lasting impact on future generations of Albert College students—supporting learning, creativity and community for years to come.

With the help of your legal advisor, you can include a clause in your will that reflects your intentions - whether you choose to give a specific amount or a percentage of your estate.

Below are examples of wording that can be shared with your lawyer when preparing or updating your will:

Option 1 - For a specific sum:

“My Executor shall pay or transfer to Albert College, currently located at 160 Dundas Street West, Belleville, ON K8P 1A6, the sum of $ [amount] for its general purposes.”

The advantage is that the size of the gift remains fixed and is the first to be distributed.

Option 2 - For a percentage of your estate:

“My Executor shall pay or transfer to Albert College, currently located at 160 Dundas Street West, Belleville, ON K8P 1A6, [insert number] percent of the rest, residual and remainder of my estate for its general purposes.”

The advantage is that there is no need to update your will even as your estate adjusts in size.