A gift by will or living trust, also known as bequest, is one of the easiest gifts to make. You can create it in any dollar amount, gift specific property or designate a percentage of your estate.

But what if you don't have one?

Don't worry, you are not alone. Most Americans don't have a will.

If you die without a will or living trust, the laws of your state will decide how your estate is divided up. Typically, this means your estate will be divided up among your closest surviving family members according to a formula, and none of your estate will go to the Brooklyn College Foundation or any other charity.

If you wish to have a say in how your estate is distributed, you must have a will. We encourage you to work with an experienced attorney to create a will that accomplishes your goals for your estate.

There are several ways that you can define the amount of your charitable gift to the Brooklyn College Foundation. They are:

• A gift of a specific dollar amount. For example, you give $25,000.
• A gift of stock, personal property or real estate. For example, you give 1,000 shares of ABC Corporation.
• A gift that will be made only if one or more conditions are met. For example, you give $25,000 provided we still offer a particular program or service.
• A gift that will be made from the remainder of your estate once all other bequests, debts, and taxes have been paid. For example, you give 25% of the remainder of your estate. Often called a "residuary bequest," this approach assures that your family will be taken care of before your estate makes a bequest to Brooklyn College Foundation.  

It is very important that your bequest be accurately and clearly described in your estate plan so that we can carry out your wishes as you intended.We are pleased to consult with you regarding the terms of your bequest to make sure that we will be able to carry out your intentions.

In order to avoid any possible question that your bequest is to our organization, be sure to include our full legal name in your bequest: Brooklyn College Foundation, Inc.

We are happy to provide you with sample bequest language to assist you and your attorney. Keep in mind, you have complete flexibility to change your bequest at any time. If circumstances change in a way that makes you want to revise your gift to us, you can. 

Is the Brooklyn College Foundation in your estate plan? 

Please let us know if you have included the Brooklyn College Foundation in your estate plans. We would welcome the opportunity to thank you for your thoughtful gift.

If you would like more information about gifts by will to the Brooklyn College Foundation or questions on giving through your estate plan, please call us using the phone number below.