Giving Through Your Estate

Giving Through Your Estate

A gift to Wellesley in your estate plan (will, trust, insurance, retirement, or other account) gives you maximum flexibility—enabling you to achieve your financial goals and benefit Wellesley's future in ways that may not be possible through lifetime gifts.

If your estate is subject to estate tax, giving through your estate plan generates a charitable estate tax deduction, which may result in substantial tax savings. You may direct all or a portion of your estate to Wellesley.

Bequests

A charitable gift from your estate is a favored method of giving that enables you to achieve your financial goals, maintain control of your assets, and benefit Wellesley. No other planned gift is as simple to make or as easy to change should you ever need the assets during your lifetime.

A bequest may be right for you if:

  • You want to make a gift to Wellesley College.
  • You want the flexibility to modify your intentions as needed.
  • You want continued access to your assets during your lifetime, should you need them.
  • You are concerned about outliving your resources.

Designating a Bequest: Although an unrestricted bequest is of special value, allowing the College to use it however needed, many Wellesley donors have special interests that they wish to support. You may designate the use of your bequest for such purposes as financial aid or faculty salary advancement. A bequest may also be used to create an individually named permanent endowment fund. Please see the minimums for endowed funds here.

 

GOOD NEWS! If you have celebrated your 50th reunion or will do so in the next five years, you can now receive reunion gift credit for your future gift by providing documentation of a bequest intention of $10,000 or more.

 Download a Bequest Intention for Gift Credit form (use if you have celebrated your 50th reunion, or will do so in the next five years)

 Download a Notification of Bequest Intention form (use if you have not yet celebrated your 45th reunion)

 


 

Bequest Language for Donors

The following is intended to help you and your attorney in drafting a bequest that satisfies your philanthropic goals and intentions regarding Wellesley College.

An outright bequest of a stated sum of money, property, or another asset may be worded:

“I give to Wellesley College, Wellesley, Massachusetts, Federal Tax Identification Number 04-2103637, [insert here the exact dollar amount or a description of the particular asset].”

contingent bequest if the Testator is not survived by certain individuals:

“If [name/s of primary beneficiary/ies] do/es not survive me, then I give to Wellesley College, Wellesley, Massachusetts, Federal Tax Identification Number 04-2103637, [insert here the exact dollar amount, description of the particular asset, or percentage of residual estate].”

 


 

Beneficiary Designation

A beneficiary designation is one of the simplest ways to make a gift to Wellesley.  

By naming "Wellesley College, Wellesley, Massachusetts" as a tax-exempt beneficiary of your retirement assets, you can eliminate estate and income taxes on the funds—allowing Wellesley to use the full value of the accounts to advance our mission. (This combination of taxes can otherwise take up to 60-80% of your asset.) 

You can also designate Wellesley as a beneficiary of your life insurance policy. In fact, you can name both Wellesley and individuals as beneficiaries of life insurance proceeds in whatever percentages you choose. Leaving non-retirement accounts to your heirs will allow them to keep more of your assets.

Contact your plan administrator to include "Wellesley College, Wellesley, Massachusetts", Federal Tax Identification Number 04-2103637, as a beneficiary.

Contact: Office of Gift Planning | giftplanning@wellesley.edu | 800.358.3543