It is important that the appropriate naming language be used in the will or trust, such as: “I hereby leave (amount, percentage, asset or remainder) to Clover Park Technical College Foundtion, Inc., an Washington nonprofit corporation with principal offices in Lakewood, Washington, for the (insert specific program, fund, or endowment or for the general benefit of a specific campus).”

While wills and bequests are wonderful ways to give and help reduce estate and inheritance taxes, they provide no immediate income tax advantages. More sophisticated giving agreements can provide immediate income tax benefits, provide a stream of income for the life of the donor, or others designated by the donor, reduce estate and inheritance taxes and provide significant support for the programs and activities of Clover Park Technical College. Charitable gift annuities, charitable remainder trusts, charitable lead trusts and other instruments may sound complicated, but are easily established and can be valueable components of any estate plan.

Clover Park Technical College Foundation has trained professionals to work with you and your financial advisors to meet your specific charitable and financial goals. All meetings are held in confidence. This is an area where a little planning can result in substantial tax savings and provide a lasting tribute to a donor’s good works.