Question:
Hi, I go to a small private college and there was recent news that a nice couple has donated an estate gift of 50 million dollars. I thought this was great news to me because it may lower down the current tuition with more funds going to scholarships and college grants. But my friend told there is nothing to be excited about because she said an estate gift would not be donated until the couple have passed away. Is my friend right?
Answer:
The estate gift is a gift that happens on death of the last person
Unless it is directed to subsidize tuition rates, it won't
It will go towards buying buildings, or expanding teaching staff, for more classes, or just to be held in trust in investments to give an income to the school for use in any reason the directors decide.
I do believe she is correct.
Sorry for your luck.
Best of luck with your studies.
I also believe your friend is right. An estate gift is basically the couple willing their assets and money to the univ. upon their death. Of course, I'm not suggesting you speed that up to benefit...
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