Charitable Remainder Trust: Canada

A flexible gift

With a charitable remainder trust, you can make a major donation of capital, which is held by a bank or trust company, while you continue to receive the income. You will receive an immediate tax receipt for an amount calculated according to the current value of the capital. Upon death, the capital is passed to McGill to support a University priority that you choose.

A charitable remainder trust can also be established through a bequest. Most often, the assets are used to provide for the needs of a surviving spouse or other heir(s) during their lifetime. Upon death, the assets pass to McGill.

Things to consider

• You will receive an immediate charitable tax receipt.

• If your charitable receipt exceeds the standard 75 per cent of your net income, you can carry the excess tax credit forward for up to five years.

• Although there is no set standard amount for a charitable remainder trust, an investment of a minimum of $150,000 is often suggested.

• You can support a University priority that meets your interest, such as student aid, building projects, programs or research. (We encourage you to do so in consultation with the Bequests and Planned Gifts staff.)