Gifts of Cash in Your Will or Trust: Getting Started

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If you've thought about making a gift to Gustavus Adolphus College but aren't ready to give up your assets or an amount of money today, consider leaving a gift of cash 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 amount of your gift, reducing any estate taxes owed upon death.

How It Works

  1. To leave a gift of cash after your lifetime, you need a current will or revocable living trust.
  2. You decide what dollar amount you'd like to give to us.
  3. Your attorney will help you complete the gift.
The official legal bequest language for Gustavus Adolphus College is: "I, [name], of [city, state, ZIP] give, devise and bequeath to Gustavus Adolphus College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose [or specify purpose]."
  1. After your lifetime, Gustavus Adolphus College receives your cash gift from your estate.

Gift of Cash
You
You
1
Include Gustavus Adolphus College in your will or trust.
2
Your estate is entitled to an estate tax charitable deduction.
Will or Trust
3
Gustavus Adolphus College can use your gift to fulfill our mission.
Gustavus Adolphus College

How You Benefit

Many people consider a cash gift in their will or trust the perfect way to make a gift. It allows you to support Gustavus Adolphus College in the future without using any of your assets today. In addition, leaving us a gift of cash after your lifetime offers these benefits:
  • Simplicity. Just a few sentences in your will or trust are all that is needed to complete your gift.
  • 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.

eBrochures
Request our free guide on making your first will.

Please contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu if we can answer any questions you have about this way to leave your mark at Gustavus Adolphus College.