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A bequest is a gift that is made through a donor's will or living trust. You can include the Bleed Purple Foundation in your estate plans by naming the Foundation in your will for a specific amount or a percent share of your estate. You can also name the Bleed Purple Foundation as the residual beneficiary of your estate after payment of bequests to others.
The appropriate way to designate a specific program as a beneficiary in your plans is "Bleed Purple Corp., Westminster, Colorado, for (a specific purpose, if any)." Through a will, living trust, or retirement plan, individuals can make gifts to Bleed Purple that are larger than anything they could imagine in their lifetimes. The process is very simple for most individuals. Simply refer to the Bleed Purple’s Sample Bequest Language .
Gifts through wills, living trusts, or retirement plans offer a number of advantages:
- They are revocable by the donor if circumstances change.
- They realize the donor's vision for the future in a tangible way without an uncomfortable financial burden during his or her lifetime.
- Individuals may choose to designate their support to any part of the Foundation.
- For individuals who wish to support the Foundation at levels that will produce an endowment in perpetuity, separate endowment agreements can be created to spell out the donor's wishes.
- They may reduce estate tax for the surviving family members.
Please notify the Foundation of your wishes by Scott Chesrown via phone at 303-947-0661 or email schesrown@bleedpurple.org.
Life Insurance Gifts
Life insurance is a useful vehicle for making a substantial gift for the future of Delta Tau Delta without removing major assets from your portfolio. An irrevocable trust funded with life insurance allows you to replace, for your heirs, the assets used for a charitable gift to the Foundation. A gift of life insurance may be made in various ways.
A fully paid up policy can be donated, naming the Educational Foundation irrevocable owner and beneficiary. The donor is then entitled to an income tax deduction for an amount equivalent to the cash value of the policy.
A policy on which premiums are still owing can be donated, naming the Foundation irrevocable owner and beneficiary. Here the donor is entitled to an income tax deduction for the amount equivalent to the cash value of the policy and for any additional gifts to fund premium payments.
A new policy may be purchased, naming the Educational Foundation owner and beneficiary. The donor is entitled to an income tax deduction for gifts made to the Foundation that are designated for premium payments.
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