Make a Bequest to Reed in your Will
Include Reed in your will and join alumni, parents, spouses, faculty, and friends who have supported the college with generous gifts through a bequest.
You can make a bequest by including language in your will that names Reed as the beneficiary of your entire estate, or you can designate that a specific dollar amount, a particular asset, or a fixed percentage of your estate goes to Reed.
You can bequeath all or a percentage of your residuary estate to Reed after you have provided for all other beneficiaries with specific bequests.
You can name Reed as a contingent beneficiary by stipulating that Reed receive all or a portion of your estate if your named beneficiaries do not survive you.
You can make Reed the remainder beneficiary of a trust that you establish in your will. This trust could provide income to one or more beneficiaries during their respective lives. Reed would then receive the principal of the trust at the death of the last surviving beneficiary.
Good Tax News:
- A bequest to Reed qualifies your estate for a charitable deduction equal to the entire value of your bequest.
|Sample Testamentary Language
A general bequest: "I give (_____dollars) (or a specific asset) (or ____percent of the rest, residue, and remainder of my estate) to the Reed Institute, known as 'Reed College,' Portland, Oregon, for its general purposes."
A bequest for a specific purpose: "I give (_____dollars) (or a specific asset) (or ____percent of the rest, residue, and remainder of my estate) to the Reed Institute, known as 'Reed College,' Portland, Oregon, to be used for the following purpose: (state the purpose, such as to establish an endowed scholarship fund, or to provide unrestricted support.)"
If you are considering a bequest to Reed, meeting with your attorney to draft or update your will is the first step. During this process, please call our office to discuss whether the language you have used achieves your bequest goals.
Because the needs of the college vary over time, we request that the gifting language in your will state any specific purpose for your gift as a preference, with the final determination left to the discretion of the trustees of the college.
If you have questions and want to learn more about bequests, contact Kathy Saitas, director of planned giving, at 503/777-7573.
This guide is not intended to provide specific advice about your estate plan or to recommend a specific course of action. We suggest you consult your professional advisers before taking any action, then contact Reed's planned giving office to learn more about these giving strategies.