[WSBAPT] Scholarship bequest tips?

[John Creahan]

Hi Adrienne,
I think this largely depends on your client’s wishes and the amount she would like each recipient to receive.
If she is planning to fund this at death, you might consider using a non-charitable trust. I think the tax issues would be relatively minor – she would just need a good trustee who understands the issues.
Let me know if I can be of assistance.
Thanks,
John

John Creahan
www.cairn-law.com<http://www.cairn-law.com/>
206-578-5877
Fremont office:
3417 Evanston Ave. N, Suite 312
Seattle, WA 98103


From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of delp at whidbey.net
Sent: Wednesday, April 17, 2019 11:11 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Scholarship bequest tips?

Hi Adrienne:
Another option to consider – if your client would like the scholarship(s) to go to a student in her community, she could make her gift to a local nonprofit that provide scholarships.  For instance, the American Association of University Women has a state organization as well as local chapters, which provide scholarships to students in that community.   I have found that universities have different approaches for earmarking gifts for scholarships. Often a quick call to the institution is the easiest way to find the best fund to contribute to.  Your client may want to contribute to a university’s scholarship endowment so that her gift continues into the future.
-Margaret

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Adrienne Keith Wills
Sent: Wednesday, April 17, 2019 10:39 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Scholarship bequest tips?

Hi Listmates:

I have an estate planning client who herself benefitted from a scholarship and is wants to provide for a college scholarship in conjunction with preparing a Will.  She’s thinking the bequest would be in the range of $50,000-$100,000.

This is a new type of request for me.  Based on the Deskbook, it sounds like a Community Foundation may be an option and that the client could select from one of many in the state.  She’s living in Seattle but herself is from Snohomish county.  Alternatively, it sounds like selecting a particular institution (ex. UW) and working with them would be an option.  Am I understanding this right?  Are there tips you might share or CLE resources you can point me to?

Thanks in advance!  Adrienne

--
Adrienne Keith Wills, Attorney/Mediator
Helping family law and estate planning clients create their legacy

1700 Seventh Ave, Suite 2100 | Seattle, WA  98101
Web:  www.AdrienneKeith.com<http://www.adriennekeith.com/> | Tel. (206) 523-3047<tel:%28206%29%20523-3047> | Fax (206) 219-6714

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