Create a Lasting Legacy with Wills and Trusts
Including Avila University in your will or trust ensures that your values continue to shape future generations. This flexible option allows you to support Avila’s mission without impacting your finances during your lifetime.
Bequests in a Will or Trust
A bequest is a simple, impactful way to leave a legacy. You can specify a dollar amount, a percentage of your estate, or the remaining balance after other bequests are fulfilled. Bequests offer flexibility, allowing you to adjust your plans as needed.
Ways to Structure a Bequest
- Specific Bequest:
Leave a fixed dollar amount or a particular asset (such as securities or personal property) to Avila University. - Residuary Bequest:
Designate Avila to receive the remaining balance of your estate once other specific gifts have been fulfilled. - Contingent Bequest:
Name Avila as a beneficiary in case another primary beneficiary predeceases you, ensuring that your estate’s purpose is fulfilled in a way that reflects your values.
Trust Options
A trust can provide additional control and flexibility for your legacy goals. Some trust arrangements allow you to set aside assets for your heirs’ financial support during their lifetimes, with the remaining assets eventually benefiting Avila. Here are a few options:
- Revocable Living Trust:
Amendable during your lifetime, it can name Avila as a beneficiary of remaining assets. - Charitable Remainder Trust (CRT):
Provides income to you or your loved ones for a set term, with remaining assets benefiting Avila. This option can also reduce taxes on appreciated assets. - Charitable Lead Trust (CLT):
Directs payments to Avila for a term, with remaining assets passing to your heirs—benefiting Avila immediately while supporting your family long-term.
Next Steps
To ensure your intentions are clear, provide detailed information when naming Avila in your estate plans. We encourage you to consult an estate planning professional to align your plans with your goals.
To leave Avila University a bequest (e.g., will) or name it as a beneficiary (e.g., life insurance), make sure your intentions are understood by providing as much identifying information as possible.
Thank you for considering this impactful way to leave a legacy at Avila University.