A bequest in a will is a popular deferred giving option because it provides estate tax benefits. There are four types of bequests:
Restrictive bequest - is restricted for a specific purpose
Unrestrictive bequest - is flexible because it can be used for the college's greatest need
Endowed bequest - allows the fund principal to be preserved and the income to be used for specific purposes.
Contingent bequest - names CVTC as a contingent beneficiary in case the initial beneficiary predeceases the donor. Naming CVTC as a contingent beneficiary is a way to ensure that assets do not get caught up in probate.
Benefits to You
Gifts made to CVTC are 100% tax deductible as allowed by law, and by planning a gift to CVTC through your will, it provides you with the opportunity to make a substantial future gift to CVTC.