WILLS AND TRUSTS
Giving to the University through your will or living trust is often referred to as a "bequest." A bequest from your estate may include cash, securities, real estate, and/or personal property. It can be for a specific amount or for a percentage of your estate.
Why Include Mercyhurst University in My Will?
Your bequest to the University is ...
- Tax Wise - A charitable gift through your estate may reduce estate taxes.
- Revocable - You may change the beneficiaries of your estate at any time.
- Flexible - Your bequest can be directed to any scholarship or program.
- Comfortable - A bequest allows you to retain your assets throughout your life.
How Do I Make a Bequest to the University?
If you are writing your will or living trust, you will need to include specific language that correctly identifies your support of the University . If you already have a will, you can add a codicil or amendment to your existing estate plan. Or, if you already have a living trust, you would simply modify the language, directing your trustee to make the desired distributions.
Informing the College of your gift does not obligate you or your estate in any way; it simply helps the Univesrity fully understand your gift intentions and ensures that there is a plan in place for implementing them. For example, if you would like to endow a scholarship, the Office of Advancement can assist you in establishing the terms of that scholarship. Additionally, it allows the Universtiy to thank you appropriately. Of course, it is understood that you may change your bequest at any time.
Please notify the University of your bequest so we can acknowledge your generosity as part of the Mercyhurst O'Neil Society.
Mercyhurst University does not provide legal, tax or financial advice. We strongly recommend that you consult professional advisors on all legal, tax or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.