When making your Bequest to Vassar you have several options for where you would like to designate your gift. Whether you intend to leave your entire estate or a portion of it, it is not subject to federal estate taxes and so significantly reduces the tax burden of an estate. The value of the bequest may be deducted when the taxable estate is determined, and there is no limit to the deduction.
The most common way to make a bequest is by designating a specific dollar amount. Most gifts are directed for the College’s general purposes. However, you may direct your gift for a particular department or program such as scholarships, faculty salaries, or campus maintenance. Please contact us to discuss your wishes.
“I hereby give, devise, and bequeath to Vassar College, Poughkeepsie, New York, the sum of _____________dollars ($_________) to be used for ________________.”
One method of making a bequest is by donating all or a portion of your residuary estate. Your residuary estate is the money remaining after the executor honors all your specific bequests to friends, family, and charities and meets all other estate obligations.
“I hereby give, devise, and bequeath ________________ percent (____%) of my residuary estate to Vassar College, Poughkeepsie, New York, to be used for ________________.”
Scholarship Endowment Bequest
If you would like to create a lasting legacy that will support generations of Vassar students, you can establish a named scholarship fund for $250,000. Simply change the “to be used for” statement to direct the gift towards a scholarship fund. Please note, the most useful scholarship funds are those that have no preferences regarding the student who will receive the aid.
“… to establish (name of your choice) Endowed Scholarship Fund to be awarded to eligible financial aid students.”
The College also welcomes gifts of tangible property that will increase Vassar’s academic resources. If you wish to give a work of art, books, manuscripts, musical instruments, or the like, we ask that you contact the College for approval.
“I hereby give, devise, and bequeath the following object(s) to Vassar College, Poughkeepsie, New York.”
Vassar College does not provide legal, accounting or other professional advice. We encourage you to review this information with your tax, financial or legal advisor.
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