In planning your own future, you have an opportunity to support a just and equitable future for generations to come. One way to provide for Future Generations in your will is an outright bequest of cash, securities, real estate, or tangible personal property. You may give a specific amount, a percentage of your estate, or a particular piece of real estate or other property.
Sample bequest language:
“I bequeath ____________ to Future Generations University, a 501(c)(3) charity and a West Virginia corporation located in Franklin, WV, to be used by Future Generations University to meet its critical needs.”
A residual bequest provides that Future Generations receives the “residue,” or the balance remaining, of your estate after specific bequests are satisfied. Wills or living trusts can also establish testementary trusts, which can provide income to another person or persons for life before the principal assets pass to Future Generations.
Another easy way that you can make a planned gift to Future Generations is by making it the beneficiary of a retirement account such as an IRA, SEP, 401(k), 403(b), or other retirement plan. This beneficiary designation can usually be accomplished by completing a beneficiary designation form either by mail or online. You may be asked for our Tax ID Number (TIN), which is 45-2208063. Naming Future Generations University as a partial or full beneficiary of your retirement plan allows us to receive the amount designated for it without any reduction for income or estate taxes.
You can also make a significant gift by naming Future Generations the beneficiary or owner of a new or existing life insurance policy. If you gift and transfer the policy to Future Generations University during your lifetime and continue to pay the premiums after the gift of the policy, you can receive an income tax charitable deduction when each premium is paid.
For more information about planned giving or to notify Future Generations University of a planned gift, please contact Shannon Donally at 304-358-2000 or Shannon.Donally@future.edu.