Gifts That Cost You Nothing Now
Gifts in a Will
A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
You can alter your gift or change your mind at any time and for any reason.
Costs you nothing now to give this way.
Four simple, “no-cost-now” ways to give in your will
A general bequest is a gift of a specific amount.
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to Skidmore College contingent upon you surviving your spouse.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to use in helping our students — and it costs you nothing now.
By naming Skidmore College as a beneficiary of these assets, you can power our mission for years to come and establish your personal legacy of helping our students bring creative thought to life.
Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes
Reduce or avoid probate fees
No cost to you now to give
Create your legacy with Skidmore College
Types of Gifts
Retirement plan assets
You can simply name Skidmore College as a beneficiary of your retirement plan to help us deliver a unique student experience that cultivates and celebrates passions and pursuits.
Life insurance policies
You can name Skidmore College as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, Skidmore College will receive the proceeds of your policy after your lifetime. You can change your beneficiary at any time and may reduce your estate taxes.
Bank or brokerage accounts
This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. The next time you visit your bank, you can name Skidmore College (Tax ID: 14-1338562) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward broadening perspectives, creating opportunities, and achieving goals for generations to come.
Funds remaining in your donor-advised fund
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name Skidmore College as a “successor” of your account or a portion of your account value, you enable our students to bring creative thought to life.
How to update a beneficiary designation:
Simply contact your bank, retirement plan administrator, insurance company, or other financial institution to request a beneficiary designation form. You may also be able to log in to your account and update your beneficiaries online.
Please use our legal name: Skidmore College
Include our tax identification number: 14-1338562