Making a Bequest
A charitable bequest is one of the easiest and most flexible ways to leave a gift to benefit Fairleigh Dickinson University. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to FDU as part of your estate plan.
There are a number of ways you can make a bequest.
Specific Bequest: A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to FDU.
Percentage Bequest: Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10 percent of your estate to FDU.
Residual Bequest: A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. 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 FDU.
Contingent Bequest: A contingent bequest is made to charity 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 FDU.
Benefits of a bequest
• A bequest is generally a revocable gift, which means it can be changed or modified during your lifetime
• Receive an estate tax charitable deduction
• Reduce the burden of taxes on your family
• Leave a lasting legacy to benefit FDU
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 benefit Fairleigh Dickinson University as part of your estate plan, please let us know. We would like to recognize you and your family for your generosity.