Support the Class of 1966: Leave a Legacy
Include a bequest provision is your Will
A Will is the cornerstone to any estate plan, regardless of wealth. It’s also the most popular way to leave a legacy at Stevens Institute of Technology. You can state your gift as either a fixed dollar amount or percentage (see below), or leave a second-to-die bequest (see below). You can add Stevens to your existing Will by revising and re-executing the document at any time, or by executing a second amendment called a codicil.
Stay flexible – by making a bequest of a percentage of your assets
The value of personal assets can rise and fall. A bequest stated as a percentage will automatically adjust regardless of future circumstances. For example, “I leave 10% of my estate to the Trustees of the Stevens Institute of Technology.”
Know for sure – by making a bequest of a fixed dollar amount
For example, “I leave $50,000 to the Trustees of the Stevens Institute of Technology.” Your estate does not have to have cash or securities to cover the gift amount, as long as the value of all of your assets is sufficient.
Put a spouse first in line – with a “second-to-die” bequest
This plan ensures that your gift will be made only after you know the assets won’t be needed by your spouse. For example, “If my spouse survives me, then I leave my entire estate to my spouse. If my spouse does not survive me, then I leave my estate as follows…” When two spouses use this cause in conjunction with each other, then each receives the other’s assets upon the death of the first-to-die, and other heirs and charities receive the remaining assets upon the death of the second-to-die.
Use your retirement account
The standard withdrawal formula for a retirement account is designed to make the balance last for your lifetime, and there is usually a remaining balance. That balance can make a great charitable gift – especially since leaving it to non-spouse family members generally makes it subject to income tax. A beneficiary designation is separate from the instructions in your will, so you can make this type of gift even if you don’t have a will. Just request a beneficiary designation form from you financial institution. You can leave the whole balance or a percentage.
Use your life insurance
As with retirement accounts (above) when you purchase a life insurance policy or are included in a group policy through your employer, you’re given the opportunity to name beneficiaries. Request a new beneficiary designation form from your insurer and you can update the beneficiaries at any time. You can leave the whole amount or a percentage.
Secure your retirement
If you are age 65 or older, you can provide yourself and/or another individual with high, fixed payments for life with a Charitable Gift Annuity. With your current gift of stock or cash you also receive a tax deduction and avoid capital gain taxes, all while supporting Stevens Institute of Technology. Join the Stevens Legacy SocietyAny of the above planned gifts for Stevens qualifies you for membership in the Stevens Legacy Society. Membership involves no dues, obligations, nor solicitations, but it does allow us to thank you and recognize you for the thoughtful plans you have made.
Enroll in the Stevens Legacy Society today!