Remembering Cabrillo in Your Will
Charitable bequests allow you to contribute to Cabrillo without giving away assets you may need during your lifetime. We can provide you and your legal advisor with language to include in your will that ensures that your wishes will be carried out. As with any gift, you can designate a program to support, or you can make an unrestricted bequest and let Cabrillo determine the best use for the donation. One popular option is to make a bequest in memory of a loved one. Another is to establish an endowment that will provide income in perpetuity. It is helpful if you inform the Cabrillo College Foundation of your bequest so the college can assure you that your gift is properly structured and can be used as you wish. We honor those who remember Cabrillo in their wills with membership in the Heritage Club.
Cash and Real Property
Your will can designate the Cabrillo College Foundation as the beneficiary of either a specific legacy or a bequest that is a fixed percentage of your estate. You can bequeath securities, real estate, or other property. If your first priority is your family’s well being, you can make your gift contingent on other conditions of the will being fulfilled before the foundation receives a gift. You can also bequeath the assets that remain after other bequests are met. Your estate receives the benefit of freedom from federal estate taxes for the full value of the gift. If your needs change, you can alter a bequest at any time by signing a new will or amending your will or trust.
Retirement Plan Assets
Assets you hold in individual retirement accounts, such as IRAs or Keoghs, can be bequeathed to the Cabrillo College Foundation. The advantage of bequeathing such retirement assets to a charitable institution is that the legacy escapes both deferred income tax and estate tax that come due if the assets are transferred to individuals.