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Beneficiary Designation Gifts

The qualities that made you successful at Colby can also be your legacy. You built discipline, determination, and drive at Colby, and now you can help future students do the same. Leaving a legacy for the future is within everyone's grasp, and it's easier than you might think. There are even ways to do so while retaining current assets and without consulting a lawyer. Designating Colby as a beneficiary of some of your assets is easy to do, costs you nothing, and will help provide a bright future for the Colby students of tomorrow.

A beneficiary designation gift is a simple and affordable way to make a gift to support Colby College. You can designate us as a beneficiary of a retirement, investment or bank account, or your life insurance policy. All you have to do is ask the institution that manages your assets to designate the President and Trustees of Colby College (Waterville, ME) as your beneficiary. Please reference Colby's Tax ID number: 01-0211497.

Beneficiary Designation Gifts
Donor
Designation Form
Account Custodian
Property
(IRA/Investment)
Colby
Charity image

Benefits of a beneficiary designation gift

  • Support the causes that you care about
  • Continue to use your account as long as you need to
  • Simplify your planning and avoid expensive legal fees
  • Reduce the burden of taxes on your family
  • Receive an estate tax charitable deduction

How a beneficiary designation gift works

  1. To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent
  2. Ask them to send you a new beneficiary designation form
  3. Complete the form, sign it and mail it back to your broker, banker or agent
  4. When you pass away, your account or insurance policy will be paid or transferred to Colby College, consistent with the beneficiary designation

Important considerations for your future

If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.

Contact

If you have any questions about leaving a beneficiary designation gift to us, please contact us. We would be happy to assist you.

If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to recognize you and your family for your gift.

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