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Planned Giving

An Investment in Potential

Elena Paul

Elena Paul '85

If you ask Elena Paul '85 why she loves Davidson College, she talks about the institution's commitment to ideas and service—two things that have followed her throughout her life and her career. She appreciates that Davidson is a hopeful place that believes in the potential of human capital. This appreciation led her to choose the college as a beneficiary of her estate.

"It's kind of fun to think about what people and places will benefit from your assets when you don't need them anymore," said Paul, who lives in New York City. "Davidson values service, integrity and potential, and if I think about what I want the symbol of my life to be, financially, this is the perfect fit. I feel so confident in the institutional culture, and I know that there are many ways the money could be used, but if it's for Davidson, any use is totally fine with me."

Paul, who works as the director of legal and business affairs for the Alvin Ailey Dance Foundation, Inc., doesn't see estate planning as a task involved with planning one's death; rather, it's about considering your ultimate legacy in the world.

"The exciting thing about planned giving is that I'm thinking about the big picture and how my path can lead me to make a difference of some kind," she said. "It sort of reminds me of college when I was constantly thinking about what I wanted to do with my life. Estate planning challenges me to contemplate what I want the gesture of my life to mean, and it feels so natural to give to the place that has always encouraged me to think big."

Paul says she's the ultimate liberal arts student. She works in the arts, she's an attorney, and she finds neuroscience fascinating. Much like her Davidson experience, she has never forced herself to choose a single path or area of interest.

"I love that people come to this unbelievable place where they can be in a culture that aims to figure out the best thing each person can contribute," Paul said. "Professors help pull out students' greatest potential, and it's not just a one-way street. It's an experience that begins a lifetime of interactive connectivity."

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Davidson College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

I, [name], of [city, state ZIP], give, devise and bequeath to Davidson College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Davidson or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Davidson as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Davidson as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Davidson where you agree to make a gift to Davidson and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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