YOUR CHARITABLE LEGACY - THE VALUES THAT DEFINE YOU

We all enter a time in our life when we need to have documents in place for the distribution of those possessions and assets that we have accumulated over a lifetime. This is best accomplished by having a will or trust that is the roadmap for this distribution. More than you may realize, your will or trust also tells the story of your life and values.

Understandably, you will leave assets to loved ones. But what else defined your life and the values you are hopefully imparting to your next generation? These values are often demonstrated by the organizations and causes you supported during your lifetime, such as Russell Sage College.

As you put in place those documents that will tell your life story as well as distribute your possessions, please consider a gift to Russell Sage College so that we can continue to have the positive impact on the next generations of those we serve.

A gift to Russell Sage College in your will or trust gives you maximum flexibility
  •  Flexible - Assets remain in your control during your lifetime should you need them. Also, you can make your gift conditional on another event, such as if your spouse does not survive you.
  •  Easy to arrange - If you don't already have a will, you should consult legal counsel to prepare a will for you. If you already have a will, a simple amendment (called a codicil) can be used to add a gift to Russell Sage College.
  •  Revocable - A gift designation can be changed in the future.
  •  Possible tax savings - If your estate is subject to federal estate taxes your gift to Russell Sage College will qualify for an estate tax charitable deduction.
 
 

Suggested wording for your advisor

Please share this suggested wording with your legal advisor.

I give to Russell Sage College, a New York non-profit (Tax ID #14-1338488), or its successor, the sum of $___________________, for any purpose as Russell Sage College deems appropriate.

I give to Russell Sage College, a New York non-profit (Tax ID #14-1338488), or its successor (the real estate located at __________________ or 1000 shares of XYZ stock), for any purpose as Russell Sage College deems appropriate.

I give to Russell Sage College, a New York non-profit (Tax ID #14-1338488), or its successor, ________% of the rest of my estate, for any purpose as Russell Sage College deems appropriate.

Next steps
  •  If you already have a will or trust, review the documents to determine if any changes in your family or other circumstances warrant revising the document.
  •  If you wish to add Russell Sage College for a gift in your existing will or trust, contact the attorney who drafted the document and request a simple amendment.
  •  If you don't have a will or trust, contact a competent attorney to have these documents prepared. If you don't know who to contact, seek a recommendation for an estate planning attorney from family members, friends, or colleagues at work. You may also contact your local bar association lawyer reference service for a referral.