Legacy Giving

What is Legacy Giving?

Legacy gifts are made with forethought. Donors are thinking about the future benefits to the institution, and the tax advantages as a donor. Legacy gifts can be a bequest made through your will, a gift of life insurance, shares or stocks, RRSP/RRIF, or an annuity.

A legacy gift can provide future support for areas of St. Andrew’s College most important to you, and can often result in a much larger gift to the School than you ever thought possible.

Potential benefits:

Immediate tax relief
Lifetime income for you or another beneficiary
Reduce estate taxes
Meaningful legacy
Huge impact for SAC’s future students
Grant membership to Andrean Legacy Society, which honours all planned gifts.

Sample Bequest Wording

Gifts of Life Insurance

A gift of life insurance allows you and your family to make a significant gift to St. Andrew’s in the future - one that may not be possible during your lifetime. The premise of this program is simple and unique to St. Andrew’s.

Rather than making a monthly or yearly donation to the School, you receive tax benefits for contributions made to a life insurance policy for the SAC Foundation. When the policy matures, usually after a 10-year period, a named scholarship or bursary award can be created.

You may also wish to leave the policy payout to the discretion of the Board of Directors and/or the Head of School. The proceeds would go toward initiatives that would most benefit St. Andrew’s at the time.

As you consider creating or updating your estate pans, this tool helps to illustrate the benefits of tax-effective gifts to charities and the resulting reductions in taxes for your estate. We hope you find this tool useful!

Estate Planning Webinar Recordings

We offer our community an opportunity to participate in various estate planning education sessions. Please find below our most recent webinars.

Ten Tax-Saving & Charitable Strategies

During this online discussion, Mark Halpern of WEALTH Insurance unravelled valuable tips to maximize wealth preservation while supporting meaningful causes. In this engaging 45-minute session, Mark shared strategic insights into how smart estate planning can integrate philanthropy for powerful financial and personal impact.

How to Successfully Leverage Life Insurance, an Estate Planning Session

David Miklas '07 examined why families and business owners incorporate life insurance programs into their estate plans. We explored the following:

Estate preservation by minimizing tax and transferring wealth tax efficiently to the next generation
Liquidity for tax, equalization, inheritance, share transfer, and charity
How to include safe capital and diversification of your portfolio

Family Cottage: Love it or List it? – Allen Church and Hilary Laidlaw

The session was an informative panel discussion on disposing of your cottage (or recreational property) in a thoughtful, workable, and tax-effective manner. Our presenters, Allen Church and Hilary Laidlaw, shared their knowledge and experience on disposing of a recreational property in Canada, including tax implications, succession issues, and probate considerations.

The Role of An Executor – Hilary Laidlaw

Hilary Laidlaw is a certified specialist in estate and trust law. She shares with us practical advice on choosing your executor and explaining the duties of an executor should you be asked to accept this role. Hilary is a past parent, Trustee of the SAC Foundation, and lawyer whose practice focuses on estate planning and administration with extensive experience in contested estates.

Tax Effective Charitable Planning – Jamie Golombek

Jamie Golombek, managing director, tax & estate planning at CIBC Private Wealth, presented a charitable giving education session.

In the online forum, Jamie provided an overview of charitable giving opportunities that are tax efficient for Canadians and suggested types of gifts you may wish to pursue as you consider making a gift to support charities such as St. Andrew’s College.

Is Your Estate in Order? – Laura Ross

Laura Ross, of Laura Ross Estate Consulting, walked us through how to get your estate in good working order. As a certified executor advisor, Laura has many years of experience working with estates as an executor and helping others in an executor role. She shared valuable lessons in preparing estates to minimize family conflict and ease administrative duties after death.

We Can Help

A Legacy Gift is a significant way to support St. Andrew’s College and can transform SAC’s future. This type of giving requires some planning with your advisor and family, we can work with you, your family and your advisors on a confidential basis to ensure your legacy and philanthropic intentions are fully met.

For more information, please contact Marla Lambert, Associate Director of Advancement, at 905-727-3178 ext. 381, or Email: marla.lambert@sac.on.ca

The charitable registration number for St. Andrew's College Foundation is 119163434 RR0001

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