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 Barnard
has long benefited from those who have remembered the College
in their wills. A gift by bequest offers a practical way to
provide substantial support to an institution that has meant
so much to you. Over the years, bequests both large and small
have helped to build Barnard's endowment and to provide funds
for necessary operating expenses, including faculty support,
academic programs, and student financial aid.
Because
we believe that a bequest intention demonstrates the gratitude
and affection an alumna feels toward the College, we want
to recognize you, along with all of the outright donors to
Barnard, by listing you as an Athena
Society member in College publications. While it is very
important for others to see the example you set, we would
be happy to list you anonymously, should you prefer it.
If you
have already provided for Barnard through your estate plans,
or are thinking about doing so, please contact
the Office of Planned Giving. Your gifts do much to ensure
the future of this institution and serve as an inspiration
to others. Many thanks.
Ways
to include Barnard in your will
Outright
Bequests
An outright bequest is the simplest method of making a testamentary
gift to Barnard. An outright bequest is a gift by will of
a specific sum of money or of a specific piece of property
(such as securities or real estate). The following language
can be used in a will to make an outright bequest:
"I
hereby bequeath to Barnard College, 3009 Broadway, New
York, New York 10027, the sum of $_____________ (and/or
the following described property ______________)."
Residuary
Bequests
Some donors would like to make a bequest to Barnard but
are not sure of the amount that will be available. Others
want to make sure that specific bequests or estate expenses
are paid first. In these cases, a residuary bequest is the
best idea. A residuary bequest provides Barnard with a percentage
or all of the remainder of a donor's estate after specific
bequests, debts, taxes, and estate expenses have been paid.
A residuary bequest to Barnard is made in a will by incorporating
the following language:
"I
hereby bequeath all (or _____percent) of my residuary
estate to Barnard College, 3009 Broadway, New York, New
York 10027."
Contingent
Bequests
Many donors have family and friends for whom they feel responsible
and choose to provide for them first in their wills. In
this case, the donor can leave what is known as a contingent
bequest to Barnard. The contingent bequest provides first
for the family and friends and benefits the College only
if the named beneficiaries predecease the person making
the will.
"I
bequeath to my sister, Jane Smith, the sum of $__________
and, in the event she shall predecease me, I direct this
sum to be paid to Barnard College, 3009 Broadway, New
York, New York 10027."
How
Barnard Benefits from Bequest Gifts
Any of the bequests described above can be either unrestricted or restricted to a particular use.
Unrestricted
Bequests
An unrestricted bequest is the simplest and most common
kind of bequest. It is also the most useful because the
property bequeathed can be used at the discretion of Barnard's
Trustees and administrators for the College's most important
funding needs, which may change from time to time. The following
language is suggested for use in making an unrestricted
bequest:
"I
hereby bequeath to Barnard College, 3009 Broadway, New
York, New York 10027, the sum of $___________ for its
general purposes."
Restricted
Bequests
Many Barnard donors are interested in promoting or supporting
special programs at the College. The donor may designate
the use of a bequest for such purposes as student financial
aid, faculty salary support or physical plant improvement.
We strongly urge you to consult with Barnard's Office of Planned Giving before drafting a detailed bequest for a restricted purpose. In addition, it is recommended that any specific
purpose be described as broadly as possible and that detailed
limitations and restrictions be avoided. The following language
is recommended to account for all possible contingencies:
"If
at any time, at the discretion of the Trustees of Barnard
College, this bequest shall no longer be necessary for
the stated purpose, the Trustees shall have the authority
to designate its use for another that, to the extent possible,
closely carries out my original intention."
Tax
Benefits of a Bequest to Barnard
A bequest to Barnard is not subject to federal or state estate
or inheritance taxes, and there is no limit on the allowable
deduction.
If you
have named Barnard as a beneficiary in your will, you might
be interested in becoming a member of The
Athena Society.
For further
information on leaving a bequest to Barnard College or for
additional sample language, please contact the Office of Planned
Giving.
Click
here for information on how to contact the Office of Planned
Giving at Barnard.
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