Gift by Will or Trust
Judith Parker Cole
I have decided to make a gift in my will to the University of New Haven. My gift will be added to the Virginia M. Parker Endowed Scholarship Fund, which is awarded to female undergraduates who are active in community service.
The scholarship is named for my mother, Virginia Parker, who was the Director of Special Studies for many years and helped found the University's chapter of the Chi Kappa Rho Sorority. Growing up, I was frequently at the University, then called New Haven College, and have been delighted to see it grow in size and reputation.
Judith Parker Cole
Making a gift in your will is called making a charitable bequest. A bequest is one of the easiest and most flexible ways to leave a gift that will have a lasting impact on the University of New Haven
Benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy for the University
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying that gifts be made to family members, friends or the University of New Haven as part of your estate plan. Or you can designate the University to receive a gift from your retirement account or an insurance policy by using a beneficiary designation form.
Here are some of the ways to leave a bequest to University of New Haven
- Include a bequest to the University of New Haven in your will or revocable trust
- Designate the University of New Haven as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name the University of New Haven as a beneficiary of your life insurance policy
A bequest may be made in several ways:
- Percentage bequest - make a gift of a percentage of your estate
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
Please consult your tax advisor for specific advice on your estate planning.
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 the University of New Haven as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.