Planned Gifts

Bequest

John Williams has an estate of $2 million, and he is a longtime supporter of the University of Hawaiʻi. At his death, John wants to give one-tenth or 10% of his estate to UH. In particular, John wishes to create an endowed scholarship in the name of his mother, Betty Williams.

What is a simple way that John can accomplish his philanthropic goals?

John can include a charitable bequest in his will or revocable living trust to accomplish his giving goals. For instance, John’s attorney could simply include a specific $200,000 charitable bequest provision in John’s will. By doing so, UH will receive $200,000 from John’s estate and, accordingly, John’s dream of establishing an endowed scholarship in his mother’s name can be realized.

John’s estate will also enjoy some estate tax savings. Because of the charitable bequest provision, John’s estate will be entitled to a $200,000 charitable estate tax deduction. This deduction may save up to $90,000 in estate tax!

Based upon all of these positives, John instructs his attorney to include a $200,000 charitable bequest in his will. Not surprisingly, John feels a great sense of pride and comfort knowing that his charitable bequest will benefit students for many years.

Donors should give some careful thought to these different bequest methods, because a good estate plan may frequently involve a combination of bequest types. For more information on charitable bequests, please email giftplanning@uhf.hawaii.edu or contact Lani Starkey at 808-956-8034.

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