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Planned Giving

Committing Early to a Lasting Impact

Joel Hewett

Joel Hewett '07

When the term "planned giving" is used, it's often thought of as something more seasoned alumni do...a later-in-life decision to include Davidson in estate plans and to think about a forever legacy on campus. Nowadays, the timeline is changing.

Joel Hewett '07 recently started a new job, and as he was busy filling out the standard new job paperwork about retirement planning and the like, he went ahead and made his annual contribution to The Fund for Davidson. Following the required fields, he noticed a link to planned giving.

"I read the information on Davidson's site about wills and estate planning, and I decided I needed to go ahead and get that done," said Hewett, only 28 years old. "The named entities in my will are now my parents, my brother and Davidson — all the things that matter most to me. I also thought it would be cool to be a part of the Maxwell Chambers Society. It showed me that planned giving is something Davidson's serious about, not a last-minute effort tacked on to annual giving."

Figuring out a way to have a lasting impact at Davidson was not a new idea to Hewett. He appreciates his path as a student and how the institution prepared him for the world.

"I was an English major who ended up being interested in the history of technology," he said. "In some ways, these two fields couldn't be more different, but at the core, you're telling a story. I know at some schools this shift would have been discouraged, but at Davidson, you're always pushed to branch out and pursue interdisciplinary work, so that's what I did."

He ended up as a policy analyst on offshore oil and gas development in the Gulf of Mexico, so his approach to learning paid off.

Hewett likes the idea of thinking 50, 60, 70 years down the road and how his decision to give to Davidson will make a difference for students.

"As I imagine what the first week on campus will be like for students then, it's easier to understand the people who made my years at Davidson possible," he said. "Without trying to quote The Lion King, it really is the circle of life."

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

Please provide the following information to view the materials for planning your estate.