Skip to Content

Gift Planning

Bequest Language

Library

Please take a moment to complete the Estate Commitment Confidential Information Form.

Forms of Bequests
The full legal name for Haverford College is "The
Corporation of Haverford College." When you are ready
to include Haverford in your will, the College recommends
that you consult with your attorney for the specific
form of bequest that is appropriate for you. Here
are some samples:

Unrestricted General Bequest
"I bequeath to the Corporation of Haverford College, Haverford,
Pennsylvania, the (sum of _________ dollars) or
(_________ percent of the residue and remainder of my
estate) for its general purposes."

Bequest for a Specific Purpose
"I bequeath to the Corporation of Haverford College, Haverford,
Pennsylvania, the (sum of _________ dollars) or
(_________ percent of the residue and remainder of my
estate) for the following purpose: (state the purpose). If at
any time in the judgment of the College's Board of Managers,
it is impossible or impractical to carry out the above
purpose, the Board of Managers may designate another
appropriate purpose."

Specific Gift of Artwork
"I bequeath the following works from my art collection to
The Corporation of Haverford College, Haverford, Pennsylvania:
(identify specific paintings, sculptures, etc.)"

Contingent Bequest
"If any of the above named beneficiaries should predecease
me, then I bequeath to The Corporation of Haverford College,
Haverford, Pennsylvania, all the property, real or personal,
which said beneficiary or beneficiaries would have
received if they had survived me."

Making a Bequest to Haverford
There are several ways in which you can provide for
Haverford in your will, including the following:

Outright Bequests
You may make an outright bequest to Haverford of
cash, securities, or other property. You may designate
a specific dollar amount, or, as a hedge against inflation
and changing economic conditions, a fixed percentage
of your estate.

Residuary Bequests
This type of bequest takes into consideration changing
family and financial circumstances. Once your
other beneficiaries have received designated portions of
your estate through outright bequests, you may stipulate
that Haverford is to receive whatever remains in
your estate. In this way, you can ensure that your family
is protected and that Haverford will also benefit.

Contingent Bequests
By making a contingent bequest, you stipulate that
Haverford will receive a portion of your estate, if one or
more of your named beneficiaries fail to survive you.

Testamentary Trust
You can establish a testamentary charitable trust
through your will. At the time of your death, the trust
uses all or a portion of your estate to provide income
payments to one or more beneficiaries that you name.
Upon the death of the surviving beneficiaries, the
principal passes to Haverford.

Estate Tax Savings
Outright bequests to Haverford are fully deductible
for federal estate tax purposes. In most states, they are
also exempt from inheritance taxes. A partial estate tax
deduction is allowed for testamentary charitable trusts
and other life-income gifts established by bequests.

 

A charitable bequest is one or two sentences in your will or living trust that leave to Haverford College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Haverford College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Haverford or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Haverford as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Haverford as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Haverford where you agree to make a gift to Haverford and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.