Estate Gifts: Planning Your Legacy
An estate gift, sometimes referred to as a planned gift or deferred gift, is a term used to describe a deliberate decision to direct your resources — money, property and/or other assets — away from taxes and to a charitable institution of your choice.
Some types of planned gift vehicles may even provide you and your loved ones with additional income during your lifetime. By including the Stony Brook Foundation in your retirement and estate planning, you can reduce your tax burden while supporting students, faculty, programs and facilities at Stony Brook University.
We encourage you to learn more about ways to give (i.e., types of vehicles) as well as assets you can use (i.e., assets used to fund estate gifts) by visiting the Gift Planning section of this website.
When an individual notifies us of intent to include the Foundation in his/her estate plans, and provides us with written documentation, the donor is recognized as a member of the distinguished John S. Toll Heritage Society.
Bequests
If you are contemplating creating a bequest that lives on for the students at SBU,
here are three kinds of bequests you might consider and the specific language to use
in your will.
To learn more about creating an irrevocable bequest for SBU, please call the Office
of Planned Giving for confidential information at (631) 632-4407. There is no minimum
amount for a bequest — all gifts are welcomed and appreciated.
For an outright bequest:
"I irrevocably give, devise, and bequeath to Stony Brook Foundation, Tax ID#11-6077945,
230 Administration Building, Stony Brook University, Stony Brook, NY 11794-1188, the
sum of $__________ (or a description of a specific asset), for the benefit of SBU
to be used for the following purpose: [state the purpose]. If at any time in the judgment
of the trustees of the Stony Brook Foundation it is impossible or impracticable to
carry out exactly the designated purpose, they shall determine an alternative purpose
closest to the designated purpose."
For a residuary bequest:
Residuary Bequests are made when you intend to leave the residue portion of your assets
after other terms of the will have been satisfied. For example:
"All the rest, residue, and remainder of my estate, both real and personal, I irrevocably give to Stony Brook Foundation, Tax ID#11-6077945, 230 Administration Building, Stony Brook University, Stony Brook, NY 11794-1188, for its general purpose."
For a contingency bequest:
Contingency Bequests allow you to leave a portion of your estate to a particular charity
if your named beneficiary does not survive you. Here is an example:
"I devise and bequeath the residue of the property, real and personal and wherever situated, owned by me at my death, to (name of beneficiary), if (she/he) survives me. If (name of beneficiary) does not survive me, I irrevocably devise and bequeath my residuary estate to Stony Brook Foundation, Tax ID#11-6077945,230 Administration Building, Stony Brook University, Stony Brook, NY 11794-1188 for its [general purposes or a specific purpose you request]."
For additional information about Estate Gifts, please contact:
Shawn T. Mroz
Executive Director, Gift Planning
(631) 632-4788
shawn.mroz@stonybrook.edu
Ashley R. Fetter
Director of Gift Planning
(631) 632-4926
ashley.fetter@stonybrook.edu