RRSPs and RRIFs

As a result of the February 2000 Canadian Federal Budget, the process of naming Osgoode Hall Law School as a beneficiary of a registered retirement savings plans or registered retirement income fund upon death has been simplified. The charitable donations tax credit has been extended to include the proceeds from RRSP’s and RRIF’s where Osgoode is designated as beneficiary. Prior to 2000, you would have had to make your estate the beneficiary and make a gift to Osgoode through your estate in order to have your estate qualify for a tax credit for the gift. Now the proceeds of the RRSP or the RRIF flow directly to Osgoode potentially protecting the gift from the claims of creditors, other estate beneficiaries and probate tax.