Gifts Through Wills and Trusts
For others, Forever.
A lasting way to support Holy Cross while maintaining flexibility today.
Create Your Legacy Through Estate Planning
A bequest to Holy Cross through your will or trust is a meaningful way to support the College's future while retaining complete flexibility and control during your lifetime. These gifts are completely revocable, may be of any size to suit your circumstances, and can be changed at any time during your lifetime.
Office of Gift Planning: 508-793-3481 | giftplanning@holycross.edu
Why Choose a Will or Trust Gift?
- Complete flexibility - Change or revoke your bequest anytime
- No impact on current finances - Costs nothing during your lifetime
- Tax advantages - Potential estate tax charitable deductions
- Strategic planning - Direct highly taxed assets to charity, tax-advantaged assets to family
- Meaningful impact - Support areas most important to you
- Any amount works - Gifts of all sizes make a difference
Will vs. Trust: Both Work for Charitable Giving
Gifts Through Wills
- Most common approach for charitable bequests
- Probate process required – bequest becomes public record
- Cost-effective for many estate sizes
- Easy to modify with codicils or a new will
Gifts Through Trusts
- Privately administered - avoids public probate process
- Faster distribution to beneficiaries
- Typically more complex but may offer additional planning benefits
- May provide for professional management during incapacity
Both methods use similar language for charitable bequests and offer similar flexibility to support Holy Cross.
Types of Bequests to Consider
Specific Dollar Amount: Leave a set dollar amount that's meaningful to you.
Percentage of Estate: Leave a percentage that automatically adjusts with your estate's value.
Residual Bequest: Leave all or part of what remains after other bequests are fulfilled.
Contingent Bequest: Name Holy Cross as a backup beneficiary if primary beneficiaries don't survive you.
Specific Assets: Leave particular assets like real estate, art, or collections.
Bequest Language Templates
The following is intended to help you and your attorney in drafting a bequest that satisfies your interests. As you consult your attorney on the selection of appropriate wording to reflect your own goals and intentions regarding the College, be sure our organization’s correct legal name appears in all final documents as:
Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts nonprofit corporation or its successor.
The the College's Federal Tax Identification Number is 04-2103558.
Unrestricted Gift (General Purposes)
"I give, devise, and bequeath to the Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts nonprofit corporation or its successor, Federal Tax Identification Number 04-2103558 (“Holy Cross”), [insert specific dollar amount OR percentage of estate] to be used at the discretion of Holy Cross for its general and educational purposes."
Restricted Gift (Specific Purpose)
"I give, devise, and bequeath to the Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts nonprofit corporation, or its successor, Federal Tax Identification Number 04-2103558 (“Holy Cross”) [insert amount/percentage] to be used for [state specific purpose, e.g., student financial aid, educational program support, faculty support, athletics]. In the event that at some future time due to changed circumstances, in the judgment of Holy Cross, it becomes impractical to apply my bequest to the designated purpose(s), Holy Cross shall make such modification as will appropriately recognize my interests in coordination with Holy Cross’s priorities."
Residuary Bequest
"I give, devise, and bequeath to the Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts nonprofit corporation, or its successor, Federal Tax Identification Number 04-2103558 (“Holy Cross”), all [or ___% of] the rest, residue and remainder of my estate to be used at the discretion of the College for its general and educational purposes."
Contingent Bequest
"If [name of primary beneficiary] does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, I give, devise, and bequeath to the Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts nonprofit corporation, or its successor, Federal Tax Identification Number 04-2103558 (”Holy Cross”), [insert amount, percentage, or asset description] to be used at the discretion of Holy Cross for its general and educational purposes."
Specific Asset Bequest
"I give, devise, and bequeath to the Trustees of the College of the Holy Cross, One College Street, Worcester, MA 01610, a Massachusetts 501(c)3 tax-exempt, charitable organization, or its successor, Federal Tax Identification Number 04-2103558 (“Holy Cross”), [insert detailed description of the property or assets] to be used [at the discretion of Holy Cross for its general and educational purposes] [or] [for [state specific purpose]]. In the event that at some future time due to changed circumstances, in the judgment of Holy Cross, it becomes impractical to apply my bequest to the designated purpose(s), Holy Cross shall make such modification as will appropriately recognize my interests in coordination with Holy Cross’s priorities."
Next Steps
Ready to Include Holy Cross in Your Plans?- Contact giftplanning@holycross.edu to discuss your goals
- Work with your estate planning attorney to draft or update your will or trust document(s)
- Let the Office of Gift Planning know about your plans so we can thank you and welcome you to The 1843 Legacy Society
Julie Karavan MS, CFRE
Office of Gift Planning
Phone: 508-793-3481
Email: giftplanning@holycross.edu
If you include Holy Cross in your estate plans, we would appreciate knowing about your gift so we can express our gratitude, welcome you to The 1843 Legacy Society, and ensure we can fulfill your wishes.
Share your intentions with the CollegeDisclaimer: College of the Holy Cross is an educational institution and does not provide tax, legal or financial advice. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. the College strongly encourages all of our benefactors to seek counsel from their own legal and financial advisors.