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Bequest – The gift that builds our future
An easy and low cost way to make a planned gift to Eckerd College is
to include Eckerd College in your will or revocable trust.
Bequests are a major source of endowment support at Eckerd College.
Each individual legacy contributes to our financial strength and ability
to meet the needs of our donors and their families. If you have not
already done so, please consider putting Eckerd College in
your will or revocable trust.
Types of bequests
You can give almost any kind of asset to Eckerd College through
a bequest, including cash, securities, an interest in real estate (such
as a residence), tangible personal property (such as works of art or
antiques) or the remainder of your IRA, Keogh, tax-sheltered annuity,
qualified pension or profit-sharing plan. Ask your attorney about your
bequest options, such as specific bequests, residuary bequests, testamentary
trusts and QTip trusts.
Tax benefits
A charitable bequest is deductible for federal estate
tax purposes, and there is no limit on the amount of the estate tax charitable
deduction your estate can take. In addition, bequests generally are not
subject to state inheritance or estate taxes. In a large estate, the
savings can be more than half the value of the bequest.
How to make a bequest
A bequest to Eckerd College can be made
by creating a new will, adding to your existing will, or including Eckerd College in
your revocable trust. If you include Eckerd College in
a bequest provision, please notify the Office of Planned Giving
so that we may include you in Kadel Society. Your notification
will be treated confidentially.
Samples of bequest language
The following examples can be tailored to your interests.
Be sure to consult your attorney for assistance in making a bequest.
- Unrestricted bequest
"I give (_______ dollars) (a specific asset) or (___percent
of the rest, residue, and remainder of my estate) to Eckerd College,
the charitable, tax-exempt organization located in St. Petersburg, Florida,
for its general purposes."
- Bequest for a specific purpose
"I give (______dollars) (a specific asset) or (___percent of the
rest, residue, and remainder of my estate) to Eckerd College,
the charitable, tax-exempt organization located in St. Petersburg, Florida,
to be used for the following purpose: (state the purpose).
NOTE: If you wish to restrict your bequest to a specific
purpose or program at Eckerd College, please contact the
Office of Planned Giving in advance to make sure the language you use
will accomplish your wishes and aligns with Eckerd College’s
needs.
- Endowment funds for restricted purposes
If your bequest will be used to establish an endowment fund for a restricted
purpose, we urge you and your counsel to consider adding a “saving
clause” to your bequest provision. A “saving clause” is
a way to ensure the usefulness and relevance of your bequest in the
future as Eckerd College’s needs and circumstances
change. For example: “If, in the future, it is the opinion
of the Board of Trustees of Eckerd College that all
or part of the income of this fund cannot be usefully applied to
such purpose, it may be used for any related purpose which, in the
sole opinion of the Board of Trustees, will most nearly accomplish
my wishes."
WARNING: Consult your legal and tax advisors before
making any material decisions based on this information.
Send me a Personal Illustration!
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For more information
E-mail
us, complete the Personal Illustration
form, or call us at (727) 864-8229 so that we can assist
you.
Judi Schraer
Director of Gift Planning
Eckerd College
4200 54th Avenue South
St. Petersburg, FL 33711
(727) 864-8229
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