Bequests
Including Connecticut College in your will or trust or as the beneficiary of your retirement plan (IRA, 401K, etc.) is a great way to make a lasting contribution to the college. There are many ways to make a gift to the college through a will or trust provision. Bequests can provide that Connecticut College receive a specified sum of money, a specific piece of property or a stated percentage of your estate. The college can also be listed as a contingent beneficiary. Advantages of Bequests For most people, ensuring their personal financial security is a big concern. A bequest allows you to retain full control over our financial resources during your lifetime. The bequest to Connecticut College comes only after you have taken care of your own needs and those of your loved ones. Bequests hold a tax advantage for your estate. If you include the college in your will or trust, your estate receives a tax deduction for any bequest to Connecticut College. Since estate tax was 55% in 2001, will decline only to 45% by 2009, and is uncertain thereafter, the estate charitable deduction can be significant. By including Connecticut College in your will, you can make a significant gift to the college and continue to support the values of your college even after your death. It is important to let the college know about your bequest: It ensures your gift will be used as you intend and allows the college to honor you for your commitment. Your bequest will be held in confidence and can remain anonymous, if you prefer. How Will Connecticut College Use My Bequest? Ultimately, each donor's bequest is distributed to the college. You can use will or trust provisions to designate that the bequest be used for specific purposes such as an endowed scholarship, the library, an academic department, a specific program, or the general endowment of the college. Your bequest may also be used to honor a commitment you made during your life or to perpetuate your annual gift. Or, you may decide not to restrict your gift, allowing Connecticut College full discretion to use the funds to respond to the evolving needs of the college. If you wish to restrict or designate a particular use for your bequest, we encourage you to contact the gift planning staff at the number listed below. This will ensure that we understand your wishes.
Last Modified: Thursday, May 31, 2007 12:15