Case Study

Perhaps you have cash that you'd eventually like to give to Gustavus Adolphus College, but aren't necessarily ready to part with it today. After all, you never know when you might need it. Consider the possibilities that a gift of cash in your will or trust can bring.

The following is an illustration of how this type of donation works:

Greg was no stranger to philanthropy. Each year he faithfully donated to Gustavus Adolphus College and wanted to continue his support after his lifetime. To formalize his wishes, he consulted with a local estate planning attorney, who drafted a will and revocable living trust. A specific cash bequest was included in the trust.

The Outcome

Greg passed away several years later. He left a specific cash bequest of $1 million to Gustavus Adolphus College in his trust. At the time of Greg's death, his estate was subject to a federal estate tax rate of 35 percent. Greg's estate was able to take advantage of the unlimited estate tax charitable deduction and saved $350,000 in federal estate taxes..

Benefits

  • Greg extended the pattern of giving he had established while he was alive.
  • Greg's favorite charity, Gustavus Adolphus College, received $1 million.
  • Greg's estate took advantage of the unlimited charitable deduction.
  • Greg's estate saved $350,000 in federal estate taxes.

We Can Help

To learn more about supporting Gustavus Adolphus College in the future through a cash gift in your will or trust, contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu.