Three Simple Ways to Support GW
Through Your Estate
-
Bequest Intention: Since the University was founded in 1821, many hundreds of alumni and friends have supported GW through bequests in their wills representing a percentage or dollar amount of their estates. Bequests may be made in any amount and may be unrestricted, or, in consultation with Development Office staff, designated for a specific program or purpose. When drawing a will or a codicil that includes a bequest intention benefiting the University, we encourage you to consult the Planned Giving Office for language we recommend using for this purpose.
-
Charitable Gift Annuity: Establishing an annuity at GW is quite simple, and it may be issued to one or two people. In exchange for a gift of $25,000 or more to the University, you will receive an immediate income tax deduction and guaranteed income for the duration of your lifetime(s), with the payout rate determined by your age(s). For example, with a single-life gift annuity, an individual aged 80 is eligible for an annual annuity rate of 8.0%, and a portion of his or her annuity payment is typically tax-free. Two-life gift annuities provide income to two people while living and then to the survivor for his or her lifetime. For example, a couple whose ages are 77 and 75 would receive a fixed payout rate of 6.4%. After the death of the donor or donors, the remaining principal passes to GW for unrestricted purposes or a purpose specified by the donor(s).
-
Pension Plan Beneficiary Designation: Unlike other assets in your estate, any IRA, 401(k), and/or Keogh plan assets remaining at death are subject to income taxes and perhaps federal estate taxes when bequeathed to loved ones other than a spouse, including children, that can reduce them significantly. However, residual pension plan assets designated for GW pass to the University tax-free at the donor's death. To make the University a beneficiary of part or all of the assets in your pension plan, you need only to complete and submit a new beneficiary designation form to your plan administrator.
We are pleased to honor planned giving donors with membership in the Heritage Society.
Once you establish a bequest, or if you have already done so, please complete the Bequest Intention Form and submit it to the Office of Planned Giving so that you may be welcomed as a member of the Heritage Society.