Major and Planned Giving

Gifts by Will

The Benefits of Giving

The right to plan your estate is a priceless privilege. With a will you can:

Determine how, when, and to whom your assets will be distributed;

Name the executor who will manage your estate according to your wishes;

Create trusts for the benefit of your spouse, your children, or others;

Reduce the burden of federal estate taxes; and

Provide for those charitable organizations to which you are devoted

Wills commitments, which ultimately become bequests, are the key to guaranteeing Denison's financial future for generations to come. For example, bequests have been instrumental in building Denison's endowment to its present level at over $500 million.

In addition to feeling good that such a remarkable gift will support Denison's important goals, the tax savings can be a significant advantage to you. The law permits a 100 percent charitable estate tax deduction when you make a bequest to Denison in your will. This deduction reduces the estate tax bite, so that your gift costs much less than its face amount. For example, if your estate tax bracket is 45 percent, your bequest of $100,000 saves you $45,000. Your $100,000 gift actually costs $55,000.

When identifying Denison in a legal document, such as your will, the correct name to use is: Denison University, Granville, Ohio.

Types of Bequests

Charitable bequests can take several forms:

Outright

An unconditional outright gift. You can designate a specific amount or a percentage of your estate. The size of your estate may increase between the time you make your will and the time of your death, so giving a percentage may be more beneficial than giving a specific amount.

Example: I bequeath the sum of $_____ (or _____ percent of my adjusted gross estate as finally determined for federal estate tax purposes) to Denison University, Granville, Ohio, for its general purposes.

While most bequests to Denison are in the form of cash and/or securities, it is possible to make a bequest of specific property (such as real estate, art, etc.). You can also make a bequest restricted to a specific University purpose which reflects your personal or professional interests, like an endowed scholarship. When making a restriction, it is advisable to contact our office to develop a specific statement to ensure that your special interests are fully understood and fulfilled.

Bequest of a Remainder Interest

You can set up a charitable remainder trust by will — with income going to an individual for life, and the remainder going to Denison.

Bequest of an Income Interest

You can create a charitable lead trust by will — with income going to Denison for a specified period of time, then the trust assets go to your family.

Residuary

A gift of all or a portion of your residuary estate (the assets that remain after specific bequests to others, taxes, etc. have been paid).

Contingent

A bequest that will come to Denison only if a contingency occurs. Example: I bequeath the sum of $ ______ to my cousin Ann, but if Ann predeceases me, I bequeath that amount to Denison University, Granville, Ohio.