What Are Bequests?
Bequests are the expressions of a donor’s generosity that occur upon death. Bequests can take several forms such as:
- Specific bequest – a certain amount of cash, securities, or property.
- General bequest – property that is similar to all other items distributed, usually cash.
- Percentage bequest – a stated percentage of the donor’s estate.
- Residual bequest – all or a portion of what remains of the estate after specific and general bequests are distributed.
If you would like to make a gift by will,
- You include a bequest provision in your will or revocable trust i.e.
“I hereby give Hesston College the sum of $________________ [amount]
AND / OR
The following described property: ________________ [description]
AND / OR
____% [percent] of the residue of my estate to be used for ________________ [stated purpose] of Hesston College.”
*a donor may remove any section of this verbiage as they like.
- Upon your death, the Hesston College will receive the bequest you specified
- You may change your bequest or trust designation at any time
- You control the funding property during your lifetime
- Your bequest or trust designation will not be subject to any potential federal estate tax
- You provide future support for Hesston College
Hesston College also offers free planned giving services to alumni and friends. This includes tax-advantaged planning which may result in increased dollars available for your family and charities. Hesston staff will work closely with your attorney or other professional advisors to meet your gift planning objectives. The college sells no products.
If you would like to discuss how to leave a gift to Hesston College, please contact Vice President of Advancement Byron K. Rupp, J.D. and he will work with you to identify what will best serve your purposes.