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Jean Torcom '64 Expands Her Generosity

Jean Torcom

My time at Colorado College (1960-64) was the transformative experience of my then young life. I loved everything about it. I made life-long friends, had a view of Pike's Peak from my dorm room every year, and benefitted enormously from the dedicated teaching of talented and generous faculty who shared not just their subject expertise but their wisdom, support and guidance. Were it not for the encouragement I received from political science professors Glenn Brooks and Fred Sondermann, and others such as Bill Hochman and Albert Seay, I would likely not have pursued an academic career myself. Colorado College had all that impact on my life and more.

Since without CC I would not have had the life and career I have, it doesn't take a rocket scientist (good thing too!) to figure out one should do something to foster the College's future. While I've been a regular donor to the annual fund, I saw my 403(b) retirement account as the perfect vehicle to permit a more substantial gift. It was as easy as filling in the blank, literally! I just had to name Colorado College as the beneficiary.

From my 13 years as a department chair, I know having a source of funds for department projects is a cool thing. Thus, my gift will go to CC's political science department. It feels good to give to a place that has given so much to me.

Learn how to name CC as a beneficiary of retirement plans.

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A charitable bequest is one or two sentences in your will or living trust that leave to Colorado College 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, [name], of [city, state, ZIP], give, devise and bequeath to The Colorado College, City of Colorado Springs, County of El Paso, State of Colorado, [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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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 CC 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 CC 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 CC 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 CC where you agree to make a gift to CC 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.

Deferred Gift Annuity

You can defer your payments until a later date that you specify.

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Flexible Deferred Gift Annuity

You choose a time range in which to begin receiving payments.

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Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.