College Provides Free Will Preparation in Exchange for $1,000 Bequest

The following is from Paul Caron’s Tax Prof Blog:

According to the St. Charles Journal, Lindenwood University is offering to pay for alumni to have their wills prepared in exchange for a bequest to the college of at least $1,000:

Lindenwood University in St. Charles has devised one of the more curious schemes yet:  It’ll pay for alumni to have their wills prepared, provided they bequeath at least $1,000 to the college in return. “We are exploring a pilot program to encourage younger alums to get wills drafted and leave a gift to Lindenwood,” said Eric Stuhler, Lindenwood’s director of planned giving. “We’ll look at the program again and evaluate and decide whether to continue it. Initially we’ve had a good response, but it’s a little too early to tell.”Stuhler, who is also Lindenwood’s in-house legal counsel, said as a lawyer, he’s taken notice of the lower rate at which younger people draw up wills – hence the idea to give them incentive and increase alumni giving.

Letters were sent out to alumni in late September with a voucher for particular attorneys to whom alumni may go to draft their wills. The pilot period will end Dec. 31. Under the program, spouses of alumni can take advantage of the offer, as well.