| Wills
& Bequests
-- Meet Bob and Mary
What
it is
A bequest is
a gift of property or assets to a beneficiary as defined in a will.
It can be a specific piece of property or an asset or a specified
amount. A bequest can also be a percentage of your estate. Bequests
usually enjoy unlimited deductions from federal or state inheritance
taxes and can thus provide a tax advantage to your estate.
Many donors
have made unrestricted bequests to Saint Mary's College allowing
us to us the proceeds where the need is the greatest. You may, however,
restrict your gift to a specific purpose, such as the library or
for scholarships. If you wish to make a restricted gift, please
contact our office to
insure the wording of your bequest properly reflects your intentions.
An improperly worded restriction could negate your purpose and prevent
the college from benefiting from your desires.
Memorial and
tribute gifts offer you a wonderful way to remember family and friends
who hold a special place in your life. Any gift can be made in honor
of or in memory of a loved one. Tribute
gifts also provide a meaningful way to celebrate special occasions
and anniversaries.
How
it works
Bob
and Mary established a scholarship that would help particular students
meet some of their college expenses. They made an outright gift
to their college of some appreciated
stock and changed their will to include a bequest that will
magnify the scholarship tenfold.
Mary:
"We felt good about helping through establishing a small
scholarship. But we had no idea what the scholarship would bring
to us."
Bob: "Over
the years, we have since met with some of the recipients of the
scholarship. I can't describe how good it feels to sit with these
young people, to hear them describe their dreams and ambitions.
To realize that we have become a part of their future and that they
have become a part of our family."
Mary: "It
gives me goosebumps even now as I think about it."
Setting
all the emotional rewards aside, this was a wise financial move.
First, there are some immediate tax benefits based not on the cost
of the stock, but on it's appreciated value. In addition, there
are long-term tax benefits because charitable bequests can reduce
estate taxes.
Mary
and Bob found their experience enriched their hearts and lives.
Often donors are surprised by just how wonderful the giving experience
is.
Now
click here to meet Catherine.>>>
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