Frequently Asked Questions about Estate Gifts
What is an estate gift?
An estate gift is a gift that Swarthmore will receive at some future date. It may come from a will, trust, retirement plan, life insurance policy, or annuity, where you designate an entity (in this case, Swarthmore College) to receive the remainder. Other gifts to be realized in the future may also qualify, and we welcome your questions about them.
How can my estate gift be counted?
To receive gift credit for your estate gift you must:
- be 60 years of age or older,
- complete and sign the estate commitment form, and
- provide documentation for your estate gift.
My estate gift to Swarthmore will only become effective if my spouse/partner predeceases me. Can my gift still be recorded?
Yes, as long as your surviving spouse or partner also includes a provision for Swarthmore in their estate plan and they join you in signing the estate gift form.
What about friends or other members of my family?
We cannot count estate gifts that are contingent upon any other family member or individual predeceasing you.
How is my estate gift counted?
If you give a specific dollar amount to the College, that amount will represent your estate gift. If you are leaving a percentage of your residuary estate or assets in a retirement plan, Swarthmore will accept your good faith estimate of what the College will ultimately receive — a snapshot of what you currently believe your estate intention to be.
May I designate my estate gift to a specific program or initiative at Swarthmore?
Unrestricted gifts allow the College to use your gift where the need is greatest. However, you may designate your estate gift to a favorite program or initiative such as financial aid. You may also add it to an existing endowed fund. If you choose to restrict your estate gift, please contact us to ensure that your wishes can be honored.
What happens if I change my estate plan or if my estate gift cannot be satisfied?
The estate commitment form is not legally binding and we understand that your plans or circumstances may change in the future. If your estate gift cannot be satisfied in full, we will gratefully accept any remaining amount or portion that is earmarked for Swarthmore. If you make changes that affect your estate gift, please let us know so that we can update our records.
Do you have additional questions?
Contact email@example.com or 866-526-4438 (toll-free).