Contact for Bequests
Director of Major Gifts and Planned Giving
When writing your will, or revising your estate plan, the inclusion of a bequest for Wheelock is a straightforward way to show your commitment to the College. Here are some important issues to consider when you make a bequest:
What is a bequest?
A bequest is a charitable gift made through an individual's will or estate plan.
What is the goal of a bequest?
To make a donation to benefit Wheelock's students and programs. Often a bequest allows one to make a gift at a level that is not possible during one's lifetime. A bequest gift can memorialize your Annual Fund gift.
When should I make a bequest?
Whenever you are updating your will or estate plans, you can make a bequest. Consider updating your plans during important life milestones such as the birth of a child/grandchild, the buying or selling of a home or business, or milestone birthday years (50, 75, etc.).
What are the benefits?
- An opportunity to make significant contribution to the mission of Wheelock
- You keep assets in your name during your lifetime.
- Your estate receives a charitable tax deduction when the gift is made.
How is a bequest paid out?
Typically a bequest is funded with cash, securities, real estate, or personal property.
You can name Wheelock College as the direct beneficiary of a stated amount of money, a particular piece of property, or a percentage of your estate.
You can designate Wheelock College to receive all or a portion of the remainder of your estate once all specific bequests to family and friends have been satisfied.
Sample Bequest Language
Use the following suggested language to make an unrestricted bequest for general purposes.
"I hereby give, devise, and bequeath to Wheelock College, an educational institution in Boston, Massachusetts, the sum of ($________) for its general purposes."
"I hereby give, devise, and bequeath to Wheelock College, an educational institution in Boston, Massachusetts, ____ percent of my residuary estate for its general purposes."
Gifts of Life Insurance Policies or 401(k) plans
If you have a life insurance policy whose value you no longer need in your portfolio, please consider donating the policy to Wheelock College. Similarly, if the tax burden of transferring your 401(k) plan to your heirs makes the value decline consider donating this asset. You could decrease your tax liability as well as provide for the education of professionals who will make a difference in the world.
Consider listing Wheelock as the sole or partial beneficiary of a life insurance policy or 4019(k) plan that is not needed by family members. To obtain the College's Tax I.D. number, simply call Stephen Muzrall at 617-879-2266.
We would be more than happy to discuss these options with you and your financial adviser.