The most common fear when considering making a planned gift through wills or trusts is having enough funds to address health care, housing, and other costs in the post retirement years. With the continuous advances in medical science that allow a person to live 30 or 40 years after retirement, this is a perfectly valid concern. And yet, you want your favorite organizations to have the resources they need after you are gone.
To address this, Friends University recommends bequeathing a percentage of your estate, rather than a set dollar amount. Leaving $100,000 means that you need to preserve $100,000 in your estate plan. Leaving 10% of your estate instead allows you to pursue your dreams for your post-retirement years without the stress of preserving capital, and is valid regardless of the size of the estate.
Another option is the inclusion of a specific asset in the will or trust. Perhaps something not likely to be needed after retirement. This may be a financial asset such as a particular investment account, or a non-cash asset such as farm land, a small business, stamp or coin collections, etc. For more information on these giving opportunities, visit Gifts of Non-cash Assets, or contact David Alexander – Associate Vice President of University Advancement at 316-295-5648 or firstname.lastname@example.org.