More information about Bequests
To make a bequest to the University of Hartford you may create a new will, add a codicil to your current will, include the University in your revocable trust or name it as the residual beneficiary of your qualified retirement plan or insurance policy.

There are two principal types of bequests: specific and residuary.

In a specific bequest, your will would specify a dollar amount or a particular asset, such as securities, real estate or tangible personal property.

In a residuary bequest, your will would give the University of Hartford all or a percentage of the remainder of your estate after the payment of estate-related expenses and other specifically named legacies.

Whether your bequest to the University of Hartford is in the form of cash, securities, real estate, or other property, the gift is deductible for federal estate tax purposes, with no limit on the amount of the charitable estate tax deduction. A bequest to the University does not generally incur state inheritance taxes. A gift through your estate provides the following benefits:

• The opportunity to make a major gift while preserving assets during your lifetime;
• Reduction in federal estate taxes;
• Significant, and much appreciated, support for the University of Hartford in your name and/or area of specific interest at the University.

A specific bequest for the University of Hartford might read as follows: "I give the sum of _____ dollars ($____) or (description of personal property) to the University of Hartford, West Hartford, Connecticut to be used or disposed of for its general charitable purposes." An example of a residuary bequest: "I give ____ percent of the residue of my estate to the University of Hartford, West Hartford, Connecticut to be used or disposed of for its general charitable purposes." If you wish your bequest to be applied to a specific purpose at the University of Hartford, the following example should be helpful: "I give (the sum of ____ dollars) or (____ percent of the residual of my estate) to the University of Hartford, West Hartford, Connecticut with a preference that the income only be used for the following purpose: (to be stated by the donor)."

In order for the University to best accomplish the desired purpose of your bequest, it would be helpful for you to work with us to create and execute a mutually-acceptable Deed of Gift governing any named, endowed fund or special purpose that you may wish to create through your estate. Any member of our development office would be delighted to offer you guidance with that process.

Through a testamentary charitable remainder trust, you can provide income for adult children. Your estate will also receive a partial estate tax deduction. It would be wise to select in advance a trustee of your charitable remainder trust for the benefit of one or more of your adult children, with the remaining principal going to the University of Hartford upon their death(s) or after a specific term of years.

Naming the University of Hartford as a beneficiary of your IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan is a good way to make a charitable bequest. If allowed to remain in your estate, your plan will be subject to both estate and income taxes (Income in Respect to a Decedent (IRD)) when received by your heirs. For larger estates, heirs may receive less than fifty cents on the dollar of IRD assets. Designation of these assets to the University of Hartford will provide the university with their full value. (Follow this link for a suggested clause that may help you avoid a potential tax pitfall.)

If you or your advisers have any questions about your charitable plans or intentions for the University of Hartford, please contact our director of Planned Giving.



For more information on Planned Giving, contact Peter Congleton at 860.768.2415 or congleton@hartford.edu


Please note that the University of Hartford does not provide tax or legal advice. Gift calculations may be provided for illustrative purposes only, and the actual values may vary based on the timing and nature of your gift. Advice from legal and tax counsel should be sought when considering a charitable gift of any kind.