When planning your estate, consider including the MAA. Gifts through wills or by bequests have become an increasingly important source of revenue for the Medical Alumni Association and, through them, U of T’s Faculty of Medicine. With a bequest, your legacy will support medical students and help keep alumni connected.
- Other than the cost of preparing the will, leaving a generous gift through your estate plans doesn’t cost you anything.
- Remembering the MAA in your will allows you to make a long-term commitment without affecting your current standard of living.
- Through a bequest, you have the comfort of knowing that your assets are still available to you today, should you need them.
- A bequest allows you to make a tax effective gift. Your estate may claim charitable donations in the year of death equal to 100 per cent of your net income (higher than the limit of 75 per cent of living donors). Any unused charitable donations can be carried back to the previous tax year at the same higher rate.
- Your estate may be in a better position if you make a bequest in the form of publicly listed securities and stock rather than first selling the property and then donating the cash proceeds from the sale.