Frequently Asked Questions (Gift Planning)
Q. I've heard about the Stetson Society. What is it?
The Stetson Society is a recognition group created for people who have included a provision for the university in their estate plan or who have established permanent, endowed funds. It's a way for Stetson to thank them for helping to provide for future generations of students.
Q. Why does Stetson want to know if I have included it in my will or estate plan?
Being aware of your estate plan allows staff to talk with you about your provision and clarify how you want your gift to be used. If you can provide an approximate amount of your estate gift, it will be added to our Gift Planning Inventory, an estimate of anticipated gifts, which is currently more than $85 million. The president and Board of Trustees use the "PGI" to make better long-term financial plans for the university.
Q. The Stetson Society sounds like something for rich people.
The amount of your estate provision is not important. The vast majority of Stetson Society members are every day people who are not wealthy. What's important is that you are committed to the future of Stetson and want to make a legacy gift that will help the university to prepare students to lead meaningful and productive lives.
Q. What's involved in becoming a member?
You can include Stetson in your estate plan in many different waysthe most popular is a charitable provision in your will or living trust. Another easy way is to name the university as a beneficiary of a life insurance policy or qualified IRA.
Establishing a charitable remainder trust might be beneficial for you and your family. Also, if you are age 70 or older, funding a charitable gift annuity can provide payments to you for the rest of your life.
If you want to see your gift at work during your lifetime, you could establish a permanent, endowment fund, such as a scholarship. These can be established with a minimum gift of $25,000 which can be made in payments over several years, and you will have opportunities to meet your scholarship recipients.
Q. How can I find out more information about the Stetson Society?
Contact Kate Pearce or Jeremy Adams in the Office of Gift Planning for free informational booklets they can send you. Their phone number is (386) 822-7461 or e-mail is plannedgiving@stetson.edu. Helpful information is also available online. You are strongly encouraged to work with your professional advisers to determine the best charitable estate plan for you and your family.
Q. What if things in my life change that alter my estate plan?
Circumstances in your life may change and, as a result, your estate plans may change. Just let us know of any changes in your provision for Stetson.