Planned Giving
Bequest Intentions
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easiest and lowest-cost way to make a gift to Emma Willard School is to include the school in your will or revocable trust. The school’s full corporate name, Emma Willard School, Troy, New York, should be used and the school’s federal tax identification number, 14-1338390, should be included. Bequests are the main source of endowment income for the school. By remembering Emma Willard School in this way, you will help to ensure the school’s financial strength and academic excellence for many years to come.
Outright Bequest
You may designate that the school receives a specific dollar amount or a specific piece of property or a percentage of your estate. The language is simple: “I give, devise, and bequeath to Emma Willard School, Troy, New York (insert the dollar amount, or piece of property, or desired percentage) in support of the school’s general purposes.” This is sample wording for an unrestricted bequest, which allows the school to use the gift however it is needed most, providing the school with the greatest amount of flexibility.Because circumstances may change over time, a restricted bequest should be made in the broadest possible terms consistent with your interests. It is desirable to include the following clause: “If the Trustees of Emma Willard School determine that it is impractical or impossible to use my gift for the purpose stated, the bequest may be used for another purpose that the Trustees, in their sole discretion, believe is consistent with my expressed wishes and interests.” If you are interested in making a restricted bequest, please contact the Development Office so that we may draft simple but appropriate language for the program in which you are interested.
Residuary Bequest
This type of bequest is used to give Emma Willard School all or a portion of your property after all debts; expenses, taxes, and all other bequests have been paid. For example, “I give, devise, and bequeath the rest, residue, and remainder of the property owned by me at my death, real and personal, and wherever situated, to Emma Willard School, Troy New York, in support of the school’s general purposes” (or “for the purpose of (insert program)”).Contingent Bequest
With a contingent bequest, you can plan for the situation of a beneficiary predeceasing you. By naming Emma Willard School as an alternate or contingent beneficiary, you assure that your bequest will pass to the school rather than to unintended beneficiaries or the government. For example, “I give, devise, and bequeath to (insert your beneficiary’s name) (insert dollar amount, or the piece of property, or the desired percentage of the residue of the estate). In the event she (or he) shall predecease me, I direct this bequest to Emma Willard School, Troy, New York.”Because we know that individual circumstances differ, we encourage donors to seek advice from their own legal and financial advisors. However, if you wish to discuss any of these options in greater detail, please call Michele Susko, Associate Director of Advancement, at (518) 833-1788 or by email at msusko@emmawillard.org.
