Gifts of Securities
Your securities open the door to a unique giving opportunity and a way to leave a lasting legacy. By leaving securities to Bryant University in your will or trust, you'll be helping support our mission after your lifetime while enjoying the flexibility to change your mind at any time during your lifetime.
If you've thought about making a gift to Bryant University but aren't ready to give up your assets today, consider leaving a gift of securities to us after your lifetime through your will or revocable living trust.
This method—called a bequest—allows you the flexibility to change your mind at any time since your gift isn't actually complete until after your lifetime. Plus, if your estate will be subject to estate taxes, this gift entitles your estate to a federal estate tax charitable deduction for the full value of the property, reducing any estate taxes owed upon death.
How It Works
As mentioned, you can give the property to us through your will or revocable living trust.
Share the sample bequest language for Bryant University with your estate planning attorney:
"I, [name], of [city, state ZIP], give, devise and bequeath to Bryant University [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
We have also included our bequest intention form for your convenience.
How You Benefit
Making a bequest of securities offers these benefits:
- Simplicity. Just a few sentences in your will or trust are all that is needed to complete your gift.
- Control. You remain in control of your securities during your lifetime.
- Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
- Tax relief. The gift entitles your estate to a charitable estate tax deduction, reducing the amount of federal estate taxes your estate may owe the IRS.
Is This Gift Right for You?
Use this checklist to see if making a charitable gift using securities is a good option for you.
- You want to make a significant gift that benefits Bryant University after your lifetime.
- You want the flexibility to change your mind about your gift during your lifetime.
- You want to retain your assets during your lifetime.
- You like the idea of an unlimited charitable estate tax deduction.
Perhaps you own securities that you'd eventually like to give to Bryant University but aren't necessarily ready to part with them today. After all, you never know when you might need them. Consider the possibilities that a gift of securities in your will or trust can bring.
The following is an illustration of how this type of donation works.
Alvin was no stranger to philanthropy. Each year he faithfully donated to Bryant University and wanted to extend his support beyond his lifetime. To formalize his wishes, he consulted with a local estate planning attorney who drafted a will and revocable living trust. A specific bequest of company securities was included in the trust.
Alvin passed away several years later. At the time of Alvin's death, the value of the stock was $1 million and his estate was subject to a federal estate tax rate of 35 percent. Alvin's estate was able to take advantage of the unlimited estate tax charitable deduction and saved $350,000 in federal estate taxes.
- Alvin extended the pattern of giving he had established while he was alive.
- Alvin's favorite charity, Bryant University, received $1 million in securities.
- Alvin's estate took advantage of the unlimited charitable deduction.
- Alvin's estate saved $350,000 in federal estate taxes.
How to Complete Your Gift
A gift of securities in your will or trust can be completed in three steps.
1. Determine how you would like your gift to be used. Do you have a particular program in mind that you would like to fund with your gift? Will your gift be unrestricted, enabling us to use the proceeds from the sale of your securities for our most pressing needs? If you choose to specify the purpose of your gift, please let us know so we can ensure that your intentions can be fulfilled.
2. Meet with your estate planning attorney. Discuss your possible tax and other benefits with your attorney to ensure that this gift meets your goals. An estate planning attorney can prepare your will or trust if you do not have one, or prepare a codicil to your will or an amendment to an existing trust.
3. Let us know your plans. Please contact Ed Magro at 401-232-6528 or firstname.lastname@example.org to let us know when you have made plans for your gift in your will or trust. We would love the opportunity to thank you for your generous act. Of course, we are happy to honor your wishes regarding anonymity.