Including VanderCook in your will through a simple charitable bequest allows you to leave a lasting legacy on the college without affecting your current finances and allowing flexibility and control over your property during life. When you make a charitable bequest, your estate will enjoy the “unlimited charitable estate tax deduction” available to them.
Bequests allow the giver a remarkable amount of flexibility, as they can leave:
- specific assets,
- specific sums of money,
- percentages of estate, or
- the remainder of one’s estate after all other beneficiaries have been provided for.
Bequests can also be specific in designation. You can either restrict the bequest to a certain fund or goal, or you can provide an unrestricted bequest, allowing VanderCook to use it where and when it’s most needed. Furthermore, you are able to change this designation at any point.
When beneficiaries of a will decide to make charitable gifts in the decedent’s name to honor the decedent’s wishes, the gifts are considered made by the beneficiaries and the estate receives no charitable deduction for the donations. If you wish to support the mission of VanderCook, we encourage you to be sure it is properly designated in your will to ensure your good intentions.
Testamentary (after-death) charitable remainder unitrusts, charitable remainder annuity trusts, and lead unitrusts are just a few of the ways of caring for VanderCook by will.
A Gift of Stock
In a strained economy, giving stock as a charitable gift still makes sense. Plan well and you can lessen your tax burden without draining your cash flow and help VanderCook. Even in an unstable market, you may have unrecognized gains in your portfolio. By giving these appreciated stocks to VanderCook, you receive the benefit of a charitable deduction for their full fair market value without paying capital gains taxes. By making a realistic assessment of how much you need to save and how much you expect to use, you can determine how much you are able to invest in VanderCook. Having you as a select supporter means so much to us.
There are a number of other gift planning methods available to you, such as IRA Gifts, Gifts of Life Insurance, and Donor-Advised funds. We understand that every individual and their estate is unique, so should you desire to explore another way to make a planned gift to VanderCook, please contact us. We are happy to work with you.
Passing the Baton…
The future of VanderCook begins with you. Your generous support of VanderCook College of Music and our mission to prepare great music teachers is greatly appreciated. We know providing for your family and loved ones is a priority for you, and we ask that you consider VanderCook as a part of your extended family. Having you as a select supporter means so much to us. If we can be of assistance in any way as you consider further charitable giving, please let us know.