Learn About Wills and Bequests

What is a bequest?

A bequest is a gift of personal property, such as money, stock, bonds, that are owned by the donor at the time of his or her death, and that are directed through the donor's will to a beneficiary which can include family members, friends, or a charitable organization. A charitable bequest is one in which personal property is given to a non-profit organization such as Northland College. Your attorney can help you define how your personal assets are distributed upon your death in a way that is meaningful for you.

What are the benefits of making a bequest?

  1. You leave a lasting legacy to be remembered
  2. You lessen the burden of taxes on your family
  3. You may receive estate tax savings

How can I learn more?

How do I make a bequest?

A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends or Northland College as part of your estate plan.

What are my options?

A bequest can be made in several ways:
  1. You can gift a specific dollar amount or asset
  2. You can gift a percentage of your estate
  3. You can gift from the balance or residue of your estate
  4. You can make a beneficiary designation of certain assets

How do I get started?