Charitable bequests help Canisius students for generations to come and may have significant advantages for you. They are free from federal estate tax and may significantly reduce taxes assessed against your estate. This means Canisius College will be able to use the full amount of your gift, while gifts to others may be substantially reduced by taxes.
Bequests are especially ideal for establishing an endowed scholarship as a permanent legacy or in honor of a loved one. Cash, securities, real estate or other property, specifically identified by you, are all popular bequest gifts.
Bequests are easy to arrange and can be changed at any time. Your bequest can be for a specific amount of your estate, a percentage of the rest, residue and remainder of your estate or it can be a residual bequest. You may also choose your bequest to be contingent upon certain conditions. Your bequest can be a restricted bequest or unrestricted bequest.
We hope you will let us know when you have named us in your will. Official notification will qualify you for membership in the Rev. James M. Demske, S.J. Society. For more information about planned giving, please contact Patrick Greenwald, director of principal gifts, at (716) 888-8216, greenwal@canisius.edu.
Specific Bequest: You can specify a specific amount (i.e. in the form of cash, securities or property) of your estate to bequeath to Canisius College. Simple language is added to your will stating:
I give (amount) dollars to The Canisius College of Buffalo, New York.
Percentage Bequest: You may wish to bequeath a percentage of your estate, or a percentage of the residuary estate. By adding the following language to your will this can be accomplished:
I give (the desired percentage) of my estate to The Canisius College of Buffalo, New York.
Residuary Bequest: You may wish to bequeath all or a portion thereof of your estate after all debts, taxes, expenses and all other bequests have been paid. The following is typical language used in a will to make a residuary bequest:
I give the rest of the property I own at my death to The Canisius College of Buffalo, New York.
Contingent Bequest: You may want to take into consideration unforeseen circumstances such as an intended beneficiary predeceasing you, the donor. By adding the following language you can be assured that your assets will pass on to the beneficiaries of choice, should these circumstances occur:
If (insert name) predeceases me, I give such property to The Canisius College of Buffalo, New York.
Restricted Bequest: Whether a bequest is specific, percentage, residuary or contingent in nature, you the donor may wish to restrict your bequest to Canisius College. By adding the following language this can be accomplished:
To be used for the following purpose: (describe the purpose). Should it not be possible to use these funds as devised, they may be expended at the discretion of the President and the Board of Trustees.
Unrestricted Bequest: To make the amount of your specific, percentage, residuary or contingent bequest unrestricted, simply insert the following language:
This bequest may be used at the discretion of the President and the Board of Trustees.