Planned Giving
Sample Bequest Language for Your Will or Revocable Living Trust
A gift to Indian River State College Foundation in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
- Is easy to arrange.
- Will not alter your current lifestyle in any way.
- Can be easily modified to address your changing needs.
- Will your gift be restricted?
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid.
I give and devise to Indian River State College Foundation, located in Fort Pierce, FL, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language
Naming Indian River State College Foundation as a beneficiary of a specific amount from your estate is easy.
I give and devise to Indian River State College Foundation, located in Fort Pierce, FL, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
Indian River State College Foundation or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled.
If (insert name) is not living at the time of my demise, I give and devise to Indian River State College Foundation, located in Fort Pierce, FL, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
You may name Indian River State College Foundation as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming Indian River State College Foundation as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh, or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Indian River State College Foundation as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Indian River State College Foundation free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify Indian River State College Foundation. We can also assist you with the proper language for your beneficiary designation to Indian River State College Foundation.
Customized Language
If you or your attorney would like Indian River State College Foundation to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
Need a codicil*? Please click here to downloadOpens new window.
*A codicil is a legal document that changes specific provisions in your will but leaves all the other provisions the same.
Next: Will Planning Wizard
Please contact us so that we can assist you through every step of the process.
Back
Create a Lasting Legacy
Philanthropic planning is a powerful mechanism for meeting personal estate planning objectives while making a meaningful impact on the College’s initiatives and mission. At Indian River State College, we welcome the opportunity to work with estate planners to ensure that your clients find the charitable arrangements that best meet their needs.
Estate-planning options can achieve significant tax benefits while furthering a client’s philanthropic goals:
- Gifts through a will or trust
- Charitable trusts and gift annuities
- Donation of stocks and mutual funds
If your client has already included or intends to include Indian River State College in their will or estate plan, or if you would like someone from IRSC Institutional Advancement to contact you to discuss how to support IRSC as part of their estate planning strategy, please contact us.
