Planned Giving for Central's Future
Put CMU in Your Will
Bequests are the University’s main source of endowment support. Each
individual legacy has contributed to the school’s financial stability
over the years. The continuation of this tradition of remembrance will
ensure that there will be a financially strong and academically
excellent CMU for many generations to come. If you have not already done
so, please consider putting Central Methodist University in your will or
trust.
Types of Bequests
You can give almost any kind of asset to Central Methodist University
through a bequest, including cash, securities, an interest in real
estate (such as a residence), tangible personal property (such as works
of art or antiques), or the remainder of your IRA, Keogh, tax-sheltered
annuity, qualified pension or profit-sharing plan. Ask your attorney
about your bequest options, such as residuary bequests, contingent
bequests, testamentary trusts, and QTip trusts.
Tax Benefits
A bequest is deductible for federal estate tax purposes, and there is no
limit on the amount of the estate tax charitable deduction. In addition,
bequests generally are not subject to state inheritance or estate taxes.
In a large estate, the tax savings can be substantial, indeed, when one
leaves major sums to a charity.
How to Make a Bequest
A bequest to Central Methodist University can be made by creating a new
will, adding a codicil to your present will, or including Central
Methodist University in your revocable trust.
Samples of Bequest Language
The following examples can be tailored to your interests. Be sure to
consult your attorney.
Unrestricted bequest: “I give (___dollars) (a specific asset)
or (___percent of the rest, residue, and remainder of my estate) to
Central Methodist University, Fayette, Missouri, for its general
purposes.”
Bequest for a specific purpose: “I give (___dollars) (a specific
asset) or (___percent of the rest, residue, and remainder of my estate)
to Central Methodist University, Fayette, Missouri, to be used for the
following purpose: (state the purpose). If, in the future, it is the
opinion of the Board of Trustees of Central Methodist University that
all or part of the income of this fund cannot be usefully applied to
such purpose, it may be used for any related purpose which in the
opinion of the Board of Trustees will most nearly accomplish my wishes.”
For more information about bequests—or to learn about gifts that provide
for the future of the University while yielding benefits to you or a
loved one during your lifetime, please contact:
Theresa M. Davis, Vice President for Advancement
Central Methodist University
411 Central Methodist Square
Fayette, Missouri 65248
Tel: (660) 248-6214
Fax: (660) 248-6270
E-mail:
tdavis@centralmethodist.edu
