Advancement & External Affairs

A Gift in Your Will or Living Trust

The Easiest Way to Make an Impact

Interested in helping Salisbury University with our mission but feel overwhelmed by the thought of writing another check or giving up your assets today? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.

By including a bequest to SU in your will or living trust, you are ensuring that we can continue our mission for years to come.

Bequest Language

Check Out This Real Life Example

Stephanie Willey ’82Salisbury University alumna Stephanie Willey ’82, a business management major who also studied voice with SU instructor Norma Hyde, believes in the idea of “always going to your joy.” For her, it’s music and singing. Stephanie plans to help future SU students follow their passion for vocal and musical performance, as well as theatre and dance, by creating the Stephanie T. Willey Performing Arts Scholarship. A planned gift, the scholarship will be funded via an IRA that Stephanie has designated to SU upon her passing.

“What I wanted to do was leave a legacy,” said Stephanie, a local sales manager for Comcast Spotlight. “I believe that higher education is very important and the arts face issues with funding nationwide; I thought I could make the biggest difference for students who want to pursue a degree in the performing arts.”

“To me, it is important to leave something in perpetuity,” Stephanie said. “While I don’t have the financial means to create this scholarship now, a planned gift allows me to know that when I pass on, my family will be taken care of and this is going to happen. I don’t have to worry about it.”

Learn How to Fund It

You can use the following assets to fund a bequest:

Next Steps

  1. Contact Jayme E. Block at 410-543-6156 or for additional information on bequests or to chat more about the different options for including SU in your will or estate plan.
  2. Seek the advice of your financial or legal advisor.
  3. If you include SU in your plans, please use our legal name and federal tax ID.

Legal Name: Salisbury University Foundation, Inc.
Address: PO Box 2655, 1308 Camden Ave., Salisbury, MD 21802
Federal Tax ID Number: 52-1127396

A charitable bequest is one or two sentences in your will or living trust that leave to Salisbury University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

I give a bequeath ___% of the rest, residue and remainder of my estate (or the sum of ___ dollars, $___) to the Salisbury University Foundation, Inc., a Maryland charitable corporation, for the support of the Salisbury University.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SU or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SU as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SU as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and SU where you agree to make a gift to SU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.