"Indeed I Was Here..."

Dolores J. Djelailja smilingAs I enjoyed my retirement years basking in the Florida sun, I eventually realized I had to sit down and take stock of my life. I had to come to terms with what must be done with my estate and since there were no family members to consider in my will, an alternative plan had to be devised. I questioned myself on the contributions I had made to humanity and the prospects of what would be bequeathed to posterity. What was most important in my life? There was no doubt about that answer and it was my career in teaching and my love of English.

I always enjoyed teaching English because of my loving relationship with words. I was fond of telling my ESOL students that words were delicious and you could roll them around in your mouth and savor their sweetness. They looked at me in awe and wondered how they could build up such a feeling for the cumbersome verbiage they had to swallow in learning their new language. However, I believe such a feeling is innate, and at the tender age of ten, I announced to the world that I was going to be a teacher because I loved words! I read prolifically and still do, making books my constant companions.

I did make an impact on the world and I wish to continue through others who will benefit from my contribution to the pursuit of English and all its ramifications.

My decision to give a gift to Fredonia in the form of an English scholarship is my way of indicating that indeed I was here, I did make an impact on the world and I wish to continue through others who will benefit from my contribution to the pursuit of English and all its ramifications. The technology of the New Age is leaving the learning of English skills far behind and our youth are losing out on the glory of being able to use their own language to the fullest. I hope there will be many others to follow me who have the same love of English that I have always had. In my high school yearbook, I wrote: "I would like to leave my knowledge of English to apportion among all those that come after me" — how prophetic!

—Dolores J. Djelailja, '59

A charitable bequest is one or two sentences in your will or living trust that leave to Fredonia College Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Fredonia College Foundation, a nonprofit corporation currently located at Fredonia, NY, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Fredonia or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Fredonia as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Fredonia as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Fredonia where you agree to make a gift to Fredonia and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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