Learn About Wills and Bequests


What are the benefits of making a GIFT IN YOUR WILL?

  1. You strengthen programs at the University that are important to you
  2. You leave a lasting legacy to be remembered
  3. You lessen the burden of taxes on your family
  4. You may receive estate tax savings

How can I learn more?


HOW DO I MAKE A GIFT IN MY WILL OR TRUST?

A gift in your will or trust, known as 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 that a gift be made to to a family member, a friend or the University of New Haven as part of your estate plan.


What are my options?

A bequest can be made in several ways:
  1. You can gift a specific dollar amount or asset - For example, you may wish to leave $10,000 or specific securities to the University of New Haven.
  2. You can gift a percentage of your estate - For example, you may wish to leave 10% of your estate to the University of New Haven.
  3. You can gift from the balance or residue of your estate - A residual bequest is made from the balance of an estate after each of the specific bequests have been distributed by the will or trust. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the University of New Haven.
  4. You can make a beneficiary designation of certain assets - For example, you may designate a percentage of your retirement account or a life insurance policy for the University.
  5. You can make a gift that is contingent upon certain circumstances - A contingent bequest to charity is made only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the University of New Haven.

How do I get started?


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