Over the years, many people have included The Citadel in their wills. These gifts have greatly enhanced our endowment funds and supported projects designated by the donors. A benefit of bequests can be the avoidance of estate taxes. Estates in excess of the gift and estate tax credit as adjusted each year are subject to federal estate taxation at a rate of 37 percent or higher.
A bequest to benefit The Citadel can be included in the body of your will or in a codicil to your will. You may state that all, or a percentage, of your estate be given to The Citadel Foundation after specific amounts are distributed to your other beneficiaries. Or, you may designate a specific dollar amount or provide that particular securities or other assets be given to TCF. A revocable living trust used as a will-substitute can contain similar provisions.
Click here for a donor's example and suggested language for giving through through bequests.
We encourage you to consult with your professional advisors to be certain your documents fit your situation and local law, and with The Citadel Foundation to assure any designations and/or restrictions will meet your desires and the needs of the college. The Citadel Foundation would appreciate having a copy of the portion of your will or living trust that provides for The Citadel. This will enable us to assist your executor or trustee in expeditiously settling your estate.
It is recommended that restrictive provisions be described as broadly as possible and that detailed limitations be kept to a minimum. Please call (800) 233-1842 to consult with a development officer at The Citadel Foundation before drafting such provisions to assure that they can be implemented according to your desires.