Savings go to aid students in receiving a college education.
Genevieve Via Cava, who recently passed away at the age of 89, left a small fortune behind to help in the education of future generations of students in the district where she taught, according to The New York Times in "New Jersey Teacher Leaves Students $1 Million Gift in Her Will."
Via Cava left a scholarship fund for future graduates. It directs that at least one student from each graduating class be given a scholarship for $25,000. The $1 million that Via Cava donated in total is enough for the scholarship fund to last in perpetuity. That means some lucky students will benefit from Via Cava's frugality and kindness for a long time.
It is always nice when these stories make the news. However, not everyone who leaves money behind for other people does so in this fashion or even in this amount. There are many different ways that a charitable bequest can be made a part of an estate plan.
An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances, and may include helping to support your favorite charity.
Reference: New York Times (June 8, 2018) "New Jersey Teacher Leaves Students $1 Million Gift in Her Will."