Charles & Elizabeth Create a Family Legacy Through a Gift in their Will
Charles and Elizabeth met in class at Phoenix College. They credit PC with starting their careers, and by way of bringing them together — their family. Since then, their family and dedication to PC have grown. Two of their three children have taken classes at PC, and Elizabeth goes to campus to take advantage of the senior discount at the PC fitness center.
Charles and Elizabeth are proud of the legacy of love and generosity that have influenced their lives, and they want to ensure they create a legacy that lives beyond their years. They love their children and young grandchildren, but they want to leave more than just money to them; they desire to create a family legacy of helping others.
They’d always yearned to give a significant gift to their favorite organizations but worried that doing so during their life, might jeopardize their future financial security. Elizabeth heard a promotion on the radio about leaving a percentage of your Will or Trust to a cause you care about. They created a will outlining that each of their three children would receive 30 percent of their assets, with 5 percent of their assets going to PC to support student scholarships and the other 5 percent divided amongst two of their other favorite causes. They sat down with their children and explained that, instead of them each receiving 33 percent of their assets, they would each get 30 percent so that 10 percent could go to support their most cherished causes. One of their sons was even inspired to add legacy giving in his own will.
Sample Bequest Language for Wills and Trusts: I hereby give $X,XXX OR XX% of my estate, determined as of the date of my death, to Phoenix College — via the Maricopa Community Colleges Foundation, a nonprofit organization located at 2419 West 14th Street, Tempe, AZ 85281, Federal Tax ID #860327449, for Phoenix College’s use and purpose.