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  • Giving Home
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You are at: Planned Giving > Gift Options > How to Give > Bequest

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Charitable Bequest

A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to Albright College that will make a lasting impact.

Charitable Bequest
Property
Donor's Family
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Benefits of a bequest

  • Receive an estate tax charitable deduction
  • Reduce the burden of taxes on your family
  • Leave a lasting legacy to charity

How a bequest works

A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Albright College as part of your estate plan, or you can make a bequest using a beneficiary designation form.

Here are some of the ways to leave a bequest to Albright College

  • Include a bequest to Albright College in your will or revocable trust
  • Designate Albright College as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
  • Name Albright College as a beneficiary of your life insurance policy

A bequest may be made in several ways

  • Percentage bequest - make a gift of a percentage of your estate
  • Specific bequest - make a gift of a specific dollar amount or a specific asset
  • Residual bequest - make a gift from the balance or residue of your estate
Click here to review sample bequest language.

Contact us

If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Albright College as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.

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The method used to make a bequest will depend on the kind of gift you choose to leave to Albright College.

Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.

Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.

The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Albright College. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.

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This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.