Creating a will is a smart and, yes, mature way to protect your family. But that’s not all your will can do. Did you know you can also make a significant impact at Gonzaga University by adding just a few simple words to this document? Called a charitable bequest, this type of gift offers these main benefits:
- Simplicity. Just a few sentences in your will or trust are all that is needed.
Gonzaga University
The official bequest language for Gonzaga University is: “I give to the Corporation of Gonzaga University, a Washington State non-profit corporation, headquartered in Spokane, Washington, the sum of $_______ (or___% of my estate, or the property described herein) to be used for _________________(specify the purpose, e.g. endowed scholarship, unrestricted, a specific program, etc.).”
Gonzaga University’s Tax ID Number: 91-0236600
Gonzaga University’s Legal Name: The Corporation of Gonzaga University
Gonzaga Law School
The official bequest language for Gonzaga Law School is: “I give to the Gonzaga Law School Foundation, a Washington State non-profit corporation, headquartered in Spokane, Washington, the sum of $_______ (or___% of my estate, or the property described herein) to be used for _________________(specify the purpose, e.g. endowed scholarship, unrestricted, a specific program, etc.).”
Gonzaga Law School Foundation’s Tax ID Number: 23-7052227
Gonzaga Law School Foundation’s Legal Name: Gonzaga Law School Foundation
- Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
- Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
- Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
How It Works
To make a charitable bequest, you need a current will or revocable living trust.
Your gift can be made as a percentage of your estate. Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Gonzaga University receives your gift.
Putting Your Family First
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense. Emergencies happen, and you need to make sure your family is financially taken care of first. Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter how your estate’s value fluctuates over the years.
We Can Help
Contact us at 800-388-0881 or plannedgiving@gonzaga.edu with any questions about naming Gonzaga University in your will or living trust. We’re happy to help, without obligation.
Your Next Steps
Getting Started | Is This Gift Right for You? | Case Study | How to Complete Your Gift | Action Items
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The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.