Make a Powerful Impact with a Future Gift
When you include Northwood Technical College Foundation in your estate plan, your generosity removes roadblocks and provides an affordable, quality education for our future workforce. Thank you for ensuring that Northwood Technical College can help students pursue their passions well into the future.
Join the Legacy Circle today
Make a gift for the future of Northwood Technical College and become a valued member of the Legacy Circle. The Legacy Circle honors those who have remembered Northwood Technical College Foundation in their planned giving through bequests, trusts, and other gifts.
Joining is easy! First, arrange to leave your legacy by making a planned gift. Second, inform the Foundation of your plans. Some of the options include:
Name Northwood Technical College Foundation in your will or trust
List us as a beneficiary of a retirement plan, a life insurance policy, or a bank account
Make a gift through a charitable gift annuity
Members of the Legacy Circle demonstrate the highest level of commitment to the future of educational excellence at Northwood Technical College and ensure the college's long-term success.
Note: There is no minimum gift requirement to become a member of the Legacy Circle.
Sample Language for Your Will
Planning for the future ensures a lasting impact and the legacy of your choosing. Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures. Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified. Below are details for including Northwood Technical College Foundation in your plans.
Legal name: Northwood Technical College Foundation, Inc.
Legal address: 1900 College Drive, Rice Lake, WI 54868
Federal tax ID number is: 39-1313438
Sample language for an unrestricted gift that allows Northwood Technical College Foundation to use the funds where needed most:
"I give to Northwood Technical College Foundation, Inc., a 501(c)(3) organization currently located at 1900 College Drive, Rice Lake, WI 54868, or its successor thereto, _________ [written amount or percentage of the estate or description of property] for its unrestricted charitable use and purpose."
Save Time and Get Organized
Your estate plan can be simple or complicated. Without a plan, a lot of things could happen that you never wanted. Knowing how to set up an estate plan can be like trying to pick all the peas out of your vegetable soup, unless you get organized ahead of time.
You will eventually need to talk with an estate planning attorney, and that person can draft your will or trust so that it accomplishes your goals. Getting organized in advance will save time, protect your estate and keep your potential taxes as low as possible.
- Make a list of all assets and liabilities – physical (like cars, homes, property), financial (cash, retirement accounts, life insurance), and digital (videos, photos, documents).
- Create a will. While there are many types of wills for all kinds of situations, a simple will does the job for most people. There are many online resources available, including https://www.doyourownwill.com/ and https://www.freewill.com/. The sites provided are not endorsed by or affiliated with Northwood Technical College Foundation.
- Choose the people you want in your plan, including beneficiaries, executor, trusted advisor, and guardians for any dependents (including pets). Be ready with names, addresses and birth dates.
- Assign items to your beneficiaries – who gets what?
- Write a letter of intent. You can provide personal instructions that aren’t in your will for anything you want your loved ones to know.
- Gather your documents:
- Marriage license
- Divorce papers
- Prenuptial or postnuptial agreement
- Vehicle titles
- Housing or property deeds
- Military discharge papers
- Any existing funeral arrangements
- The name(s) of your deceased or former spouse(s) and any documents that would help determine whether they have any remaining inheritance rights
- Titles, mortgages, statements, tax returns
- Details about your employment benefits
- Details on annuities and life insurance policies
- Details about business interests: estimated values, proportions owned by you and by others and a copy of any buy-sell agreements
- The nature and value of royalties and/or patents owned by you
Figure out if you need an attorney. If you have a small estate and basic family situation, you can probably pull it off with the online will and letter of intent. However, if things are more complicated, you need help understanding state-specific laws, or you want to avoid federal estate taxes, you should look for a good estate planning attorney. Ask around, talk to your financial advisor, ask your friends. Get started and good luck!