One of the most popular and easiest ways to support our good
work is by naming St. John's University as the recipient of a
bequest. A bequest is the act of transferring property—money or
other assets—at your death through your will or trust.
As complicated as planning for the eventual distribution of your
assets may sound, the actual exercise is easy and can be started at
any time—the sooner, the better. As you begin your estate planning
process, think about:
- what assets you want to leave;
- to whom you want to leave them; and
- in what amounts.
First Things First - You Must Have a Will
The only real obstacle to making a bequest to a charitable
organization is not having a will. In fact, most people don't. That
may sound incredible given the importance of proper estate
planning, but it's true. A Harris Interactive poll conducted for
Lawyers.com between March 1, 2007, and March 4, 2007, found that 55
percent of all adult Americans don't have a will.
Having an up-to-date will is almost always the first step in
putting together a solid estate plan. Without a will, it's left to
the state in which you live to figure out how to distribute your
assets. Because educational institutions are not included in any
state's distribution laws, your gift intended to support our
mission would not be realized.
While 10 percent of those who don't have an estate plan say they
haven't proceeded with a will because they just don't like to think
about death, the responsible course is to plan while you are able
so your wishes can be fulfilled.
You, Too, Can Accomplish Great Things
Many substantial legacies have started through someone's estate
plan. Libraries, colleges, museums and health organizations, to
name a few, have benefited from such farsighted individuals. We
also have many needs still to be met.
Make a Bequest, Start Your Legacy
Start your own legacy today. While planning your will,
simply tell your attorney that you want to leave something for our
organization at your death. He or she will ask what you want to
donate, and you will then indicate a specific dollar amount or all
or part of an asset. For example, you can say you want to leave
$10,000, or you can direct 1,000 shares of stock to be given to us
at your death.
There are several techniques you can use to provide for our
institution; your attorney can guide you through that process. The
key is: It's not as difficult as you may think.
An Easy Way to Satisfy Everyone
Naturally, before making your charitable plans, you want to make
sure your children and other loved ones are provided for. Not
knowing the eventual size of your estate, however, can be a
concern. Often, there's more than enough to go around, but there is
a way you can alleviate the worry for everyone: A common practice
when including a bequest in your estate is to leave a percentage of
your estate, rather than a fixed amount, to us. That way, your
bequest to us remains in proportion to other bequests.
Nothing is more satisfying than knowing you'll have made a
difference. By simply naming St. John's in your will, you can
become a hero in our future.
Sample Bequest Language
The first step toward leaving a legacy is to make sure
you have an up-to-date will and estate plan. While it is important
to consult a qualified attorney for help, following is language
that could be used when making a bequest to our organization:
The official bequest language for St. John's University is:
"I hereby give, devise and bequeath to St. John's University,
New York, Jamaica, New York, Federal Tax ID number 11-1630830 the
sum of ________."
OR
"I hereby give, devise and bequeath to St. John's University,
New York, Jamaica, New York, Federal Tax ID number 11-1630830 all
the rest, residual and remainder of my estate."
OR
"I hereby give, devise and bequeath to St. John's University,
New York, Jamaica, New York, Federal Tax ID number 11-1630830 ____%
of the rest, residue and remainder of my estate."
Please call Susan Damiani at (718) 990-7562, or e-mail damianis@stjohns.edu, for
more information.