College is a time that most of us look back on fondly. It was our first step towards true independence. Many of us met our best friends or our spouses at school. We struggled and overcame. We grew into adults at college and learned the skills the catipulted us into our lives and careers. Many people upon their deaths choose to give back financially to their Alma Matter with funds for scholarships or other university expenses. And while is standard to leave money in a will, did you know you can give back in more ways than one?
Ways to Give
Bequething property is a great way to give back to your college or university. If you have items, artifacts, or documents of importance that your program may beneift from you can designate those to your school upon your death. This is a great way to embue your university with tangible resources for future students.
Leaving a percentage of your unspecificied estaste to your college is also an option. In this case, the remainder of your estate (which you delegate) that is not bequethed directly to family or other places will be the university’s.
Designating the school as the beneficiary to your 401(k) is also a good way to ensure that your money goes to support your university.
Though possibly unconvential, you can donate your remains to your college or university. Biology departments are always in need of cadavers to train future doctors on the in’s and out’s of the human body. By giving your remains you allow them that opportunity.
Another good way to know what to specify in your will to support your Alma Mater is to get in contact with them. Most universities have an alumni association with a department dedicated to giving. They can give you ideas, details, and put you in touch with department or program staff that can give you an idea of the needs of that program and how you can help meet them.
