A Lasting Legacy for Alpha Zeta
Throughout the history of Alpha Zeta, loyal alumni have included the Fraternity in their estate planning or made a planned gift. Alumni who have included Alpha Zeta in their estate are honored as members of the Harvester's Circle.
James and Florence Keith Memorial Scholarship
Dr. James Keith, DVM (Montana, '40)
Lindley H. Dennis Memorial Scholarship
Dorothy A. Dennis
Leasure Scholarship
Dr. and Mrs. Keith Leasure (Morrow, '40)
Kent L. Wells Memorial Scholarship
Cornell Alumni
Along with leaving a legacy for the future, many tax-favorable options exist for making a planned gift to the Alpha Zeta Foundation.
How to include Alpha Zeta in your estate:
- Determine how you'd like you're gift put to use. See sample wording below.
- Determine what type of contribution (annuity, insurance, living trust, percentage of estate, etc.) you'd like to make to Alpha Zeta.
- Contact your attorney and include AZ in your estate planning. Make your intentions known to family members.
- Contact Alpha Zeta. We'd like to recognize your contribution and honor you as a member of the Harvester's Circle. Call: (636) 449-5090 or e-mail: info@alphazeta.org
Estate Planning
A bequest to the Alpha Zeta Foundation is a way of perpetuating your support for the role Alpha Zeta plays in the lives of others. It also enables a donor to make a major gift that might otherwise not be possible.
Bequests can take various forms, including a living trust. It`s important to consult with your attorney to determine whether your charitable bequest can be made by drafting a codicil to your existing will or if a new will is needed. A will may leave a specific cash amount or property, or it may reserve Alpha Zeta all or a certain percentage of the property remaining after provisions for family members and other beneficiaries. The donor may stipulate whether the bequest is for the general support of the Fraternity or for a specific purpose. A bequest may also be made in honor or memory of another individual.
In addition to cash and securities, bequests to the Alpha Zeta Foundation may include real estate, works of art, books, patent rights or virtually anything of value. All outright bequests to the Alpha Zeta Foundation are exempt from federal estate taxation.
Bequests and gifts should be directed to the Alpha Zeta Foundation. The Foundation was established to receive, manage and disperse funds in the best way possible to benefit Alpha Zeta.
Sample Language
When making or revising a will, a donor should obtain the assistance of a lawyer. Alpha Zeta staff will be pleased to work with you and your lawyer to design an estate plan specifically tailored to your wishes. Following are suggested forms for making various types of bequests.
Outright bequest in will:
Specific Dollar Amount:
"I bequeath the sum of ($ ), without reduction for any tax occasioned by my death, to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
Percent of estate:
"I bequeath (____) percent of my estate, without reduction for any tax occasioned by my death, to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
Specific property (personal property):
"I bequeath (describe property) to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
Specific property (real estate):
"I devise all of my right, title, and interest in and to the real estate located at (give address or otherwise describe property) to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
Share of or entire residue of estate:
"I devise and bequeath [(all) OR ( percent)] of the remainder of my property, without reduction for any tax occasioned by my death, to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
Conditional bequest in will:
Insert the conditional language in one or more of the above provisions.
For example:
"If my husband (wife) does not survive me, I bequeath the sum of $ , without reduction for any tax occasioned by my death to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, to be used or disposed of as the Foundation in its sole discretion deems appropriate."
If the gift to the Alpha Zeta Foundation is for a specific purpose, insert the restriction in place of the words "to be used or disposed of as the Foundation in its sole discretion deems appropriate."
For example:
"I bequeath the sum of $ , without reduction for any tax occasioned by my death, to the Alpha Zeta Foundation, an Indiana non-profit corporation (Tax ID No. 31-1110069), having a principal place of business in Chesterfield, Missouri, for the following use and purpose: (describe)."
In the event of a gift subject to a restriction, we suggest including one of the following provisions:
"However, I impose no legal or equitable obligation in this regard."
-or-
"If in the judgment of the Alpha Zeta Foundation it has become, or is likely to become, impossible or impracticable to accomplish the purpose of this gift, the income or principal, or both, of this gift may be used for such related purpose and in such a manner as determined by Alpha Zeta Foundation."
For more information, please contact the Alpha Zeta Foundation at (636) 449-5090 or info@alphazeta.org