Is Your Will Missing This?
Creating a will is a smart and, yes, mature way to protect your family. But that’s not all your will can do. Did you know you can also make a significant impact at The Ramapo College Foundation by adding just a few simple words to this document? Called a charitable bequest, this type of gift offers these main benefits:
- Simplicity. Just a few sentences in your will or trust are all that is needed. The official bequest language of the Ramapo College Foundation is: "I, [name], of [city, state, ZIP], give, devise and bequeath to the Ramapo College Foundation [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
- Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
- Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
- Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift's full value.
You can change your mind about your gift at any time.
How It Works
To make a charitable bequest, you need a current will or revocable living trust.
Your gift can be made as a percentage of your estate. Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, The Ramapo College Foundation receives your gift.
When planning a future gift, it's sometimes difficult to determine what size donation will make sense. Emergencies happen, and you need to make sure your family is financially taken care of first. Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter how your estate's value fluctuates over the years.
|Download a free guide about making your first will.|
We Can Help
Contact Ellen Dudas at 201-684-7005 or email@example.com with any questions about naming The Ramapo College Foundation in your will or living trust. We're happy to help, without obligation.
Getting Started | Is This Gift Right for You? | Case Study | How to Complete Your Gift | Action Items
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The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.