Remembering Penn College in Your Will or Living Trust
With a will or living trust, you retain complete control over your assets during your lifetime. Amounts left to qualifying charitable organizations may be free of estate and inheritance taxes. You may also make a bequest in honor or memory of someone else, such as a parent, spouse, or child.
There are many ways to make a bequest using a will or living trust. You may give a specific dollar amount, a percentage of the remainder of the estate (or trust assets), or a contingent bequest (paid only if a named person does not survive you). It is also possible to give a specific asset, such as art or real estate.
To assure that Penn College will benefit, you may want to consult with your attorney or other related professional advisor regarding the use of one of the following provisions in your will:
- I give and bequeath ___ % of my net estate to Pennsylvania College of Technology (IRS Tax ID #_______).
- I give and bequeath the remainder of my net estate to Pennsylvania College of Technology (IRS Tax ID #_______).
- I give and bequeath $ ________ to Pennsylvania College of Technology (IRS Tax ID #_______).
- I give and bequeath my assets to my spouse if my spouse survives me, and if he/she predeceases me, I give and bequeath my assets to Pennsylvania College of Technology (IRS Tax ID #_______).
Please contact the Institutional Advancement Office for IRS Tax ID number information
A copy of the provision is provided to Penn College.
In addition to those who remember Penn College in their wills, many request that, in lieu of flowers, memorial donations be made to the Annual Scholarship Fund. This gives friends and family the opportunity to honor loved ones with generous contributions that help students and enable the honoree's name to live in perpetuity.
A will or living trust also may be used in combination with other Penn College planned giving options.
The Penn College Institutional Advancement Office is not engaged in providing legal or tax advisory services. This information is of a general character only, and is subject to changes in state and federal tax laws, regulations and interpretations. For advice and assistance in specific cases, you should enlist the services of an attorney or other professional tax or financial advisor(s).
