St. Peter's Institute for Catholic Formation
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Planning a Legacy Gift to St. Peter's Seminary 

A gift to St. Peter’s Seminary can be planned to occur during one’s lifetime or through a bequest. A “legacy gift” is a type of charitable gift the donor has planned in advance that is to be given in the future from the donor’s estate. Legacy gifts typically represent considerable thought about a donor’s relationship with the charitable recipient, and how that donor wants to impact the charity over a long period of time.
Angel on Building
What are the advantages to the donor of legacy giving? 

  • A way to create a visible and inspirational testament of commitment and faith
  • A means of having a positive impact on a charity after death including in perpetuity
  • Assurance that the gift will be received at its fair market value 
  • Capacity to leverage smaler outlays, on life insurance for example, into larger future charitable gifts
  • Possible gift receipts resulting in income tax credits 
  • Possible tax avoidance of capital gains on appreciated securities, real estate or tangible personal property  
Note to Donors:  There may be variability in the tax treatment of a gift based on donors’ individual circumstances. Donors are urged to seek independent advice.

Planning a Gift During One's Lifetime
Common examples include: Life insurance policies, Charitable gift annuity, Charitable remainder trusts.
Click here for more information on Planning a Gift During One's Lifetime

Planning a Bequest to the Seminary
St. Peter’s Seminary, and later the St. Peter’s Seminary Foundation, have been beneficiaries of bequests since as early as 1914. Giving through a bequest in a person’s will, accounts for much of the legacy gifts made to charities in Canada today.

A gift in a will can be attractive to a donor because it allows the donor to retain full control of his/her assets, since the donor can change his/her intentions at any time. A gift of this type can have a significant impact on a donor’s estate by providing a tax credit of up to 100% of the donor’s income in the year of death.

Common examples include: General Bequest, Specific Bequest, Residual Bequest, Restricted Bequest. Click here for more information on Planning a Bequest to the Seminary.

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