Bequests
Creating
lasting memories and benefits
Bequests through your will are a convenient means to make a substantial contribution to Olds College that may not otherwise have been possible during your lifetime.
Bequests offer the opportunity to designate to your area of specific interest, such as scholarships or bursaries, prizes, program development/enhancement, a variety of capital projects, or alternatively to designate your gift to an area of greatest need as determined by the Board of Governors.
The funds may be utilized immediately or held in a permanent fund (endowment). If endowed; any additional interest is re-invested with the capital sum to ensure your gift continues to give for many years to come. see Endowments
There are several types of bequests:
Specific Bequest
- A specific bequest is one in which the donor gives a specific dollar amount or a specific piece of property, such as real estate, stocks, bonds or works of art. see Real Estate & Tangible Properties
Residual Bequest
- A Residual Bequest is used to give Olds College all or a portion of your estate after all the debts, taxes, expenses and other specific bequests have been paid.
Contingent Bequest
- A contingent bequest takes effect only if the primary intention cannot be met (e.g. if the primary beneficiary does not survive the donor). This ensures that the property will pass to Olds College rather than to unintended beneficiaries.
Benefits of Donating by Bequest
- A Bequest by Will allows you to make a substantial gift, fulfilling your philanthropic objectives.
- Your will speaks "from the date of death", you retain control of your capital during your lifetime and can make changes in your will at any time.
- Save your family the tax burden. Bequests to Olds College are eligible for tax receipts. Contact us for full details.
- By revealing that you have included Olds College in your will, we will be able to thank you now. The College will absolutely respect all requests for anonymity.
