Frequently Asked Questions
- I am updating my estate plan and want to include Colgate. What is its legal name?
Please refer to the University in your will or living trust as "Colgate University", Hamilton, New York." Please note: If you would like to restrict your estate provision, please contact the Office of Capital and Planned Gift Administration at Colgate for assistance with your designation (800-813-1819).
- I am considering establishing a CRT, but I am concerned about trust fees and trust administration. Will I need to serve as trustee of my trust?
No. Many donors who establish a charitable remainder trust benefiting Colgate choose to name Colgate as trustee. In order to properly fulfill its responsibilities as trustee, Colgate has engaged the services of Kaspick and Company. Kaspick offers superb investment performance and provides timely performance and tax information—all for a fee that is generally less than that paid to a commercial trustee.
- Does Colgate need to know my bequest intentions?
We recognize that you might wish to keep your bequest intentions confidential. If you are willing to inform us, however, knowledge of your intentions helps Colgate in its financial planning, and you would qualify for membership in the Willow Society
. Colgate established the Willow Society
to honor alumni and friends who have supported the University through their estate plans or with a life-income gift. For many donors a bequest offers the opportunity to make a more substantial gift than would be possible during the donor's lifetime. Other donors view a bequest as an opportunity to give a lasting legacy to Colgate. Bequests are one of the simplest forms of planned giving and have been the primary gift types for additions to Colgate's endowment.
- Can I designate the use of a life-income gift?
Yes. While unrestricted gifts and bequests are especially helpful because they can be used for the highest priority at the time, you are free to designate a particular use for your gift. Any assets remaining after the lives of the designated beneficiaries are used for the purposes specified by the donor. You can have the satisfaction of supporting programs that match your interests. Contributions for endowment, for example, are always priorities, and may include student scholarships, faculty support, the library, athletics, or a specific program. We can help you determine where your gift would be most useful and are happy to discuss your special wishes and interests.
- Can assets other than cash be used to fund a planned gift arrangement?
Yes. Donating appreciated assets such as securities or real estate can bring even more benefits to a donor. By giving these assets to Colgate to establish a charitable gift annuity
or charitable remainder trust
, a donor can reduce capital-gain tax liability and still receive a charitable deduction and other tax and income benefits.
- How do I find out more about estate and planned giving at Colgate?
Please contact any of the following:
Director of Planned Giving
Associate Director of Planned Giving
Associate Director, Planned Gift Administration
The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to Colgate. We would be pleased to discuss, in confidence, ways in which you may support Colgate. These measures may also have an impact on your estate planning.