A bequest, the most common way for donors to provide for the future
of Bard College, offers several advantages. A donor may be able to make a larger
gift than otherwise possible, the estate may save on estate taxes, and the
arrangement is revocable, allowing for changes as needed. You may designate
a bequest for a specific purpose or leave it unrestricted. An unrestricted
bequest provides general support for Bard and allows the College to use the
gift where it is most needed at the time. You can make a bequest to Bard College
by preparing a new will or revising an existing one. You can provide for the
College in your will by:
- Making a specific bequest of cash, securities, or other property by designating
an exact dollar amount, a particular asset, or a fixed percentage of your estate.
- Making a bequest of all or portions of your residuary estate after it
has provided for all other beneficiaries by specific bequests.
- Making Bard a contingent beneficiary of the estate by stipulating that
the College will receive all or a portion of the estate if named beneficiaries do not survive you.
- Making the College the remainder beneficiary of a trust established in
the will to provide income plans previously described or a marital trust that pays all income to a spouse for life.
Sample language to include in a will or in a codicil to a will:
For an unrestricted bequest: I give (the sum of ______ dollars) or (all
or ______ percent of the residuary of my estate) to Bard College of Annandale-on-Hudson,
New York, for its general purposes.
For a restricted bequest: I give (the sum of _____ dollars) or (all or _____
percent of the residuary of my estate) to Bard College of Annandale-on-Hudson,
New York, to be used for the following purpose: (state the purpose)
For the bequest of residuary estate: I give (whatever remains) or (_____
percent of whatever remains) of my estate to Bard College of Annandale-on-Hudson,
New York, after all specific bequests have been made and all expenses of
administering my estate have been paid.
These descriptions provide general information only. For specific information
on your personal situation, please consult your legal and financial advisors.
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