Even 1 Percent MattersWhy Give a Percentage of Your Estate?
You may think you don't have enough money to donate and make any kind of impact, but that simply isn't true. Your gift, no matter the size, can ensure a future for Gustavus Adolphus College and influence the lives of those who rely on it.
Put it this way: The majority of American adults give to a charitable organization each year—even in these tumultuous economic times. Meanwhile, only 8 percent of charitable giving dollars in 2010 came from donations made from wills.1
Yet, giving through your will won't affect your current income.
For those of you who want to help Gustavus Adolphus College, but don't know where to begin because of time or money limitations, a bequest in your will or revocable living trust is a great place to start. It also allows you to make contributions—similar to annual donations—after you've passed.
By putting aside a percentage of the assets in your will or trust—from 1 to 100 percent—you can leave a legacy with Gustavus, while making sure your family has the security they may need in the future.
More Worry-Free OptionsThere are other ways to contribute to our mission without affecting your income. For instance, you can include us as partial beneficiary—by dividing up your assets in percentages—on your life insurance policy or retirement plan assets. Simply contact your insurance company to ask how you can change beneficiaries in your life insurance policy. In the case of retirement plan assets, ask your retirement plan administrator for a change-of-beneficiary form.
If your children are the beneficiaries of your IRAs and other retirement plan assets, federal income taxes may erode up to 39.6 percent of the amount they receive.
If you give annually and want to extend your support for our work, these are smart ways to leave a lasting legacy without affecting your income, and they still allow you the flexibility to change your mind in case your circumstances—or the economy—changes.
Ask your estate planning attorney how to set these up, or contact Jackie Peterson at 507-933-7543 or email@example.com. We're here to help.
1Source: Giving USA 2011: The Annual Report on Philanthropy for the Year 2010