FundSvcs Community

Good morning!

We received a check from a deceased couple whose daughter is also listed on the check as an account holder. The check was signed by the daughter as her parents both recently passed away (within a month of each other). The note included with the check states that her father had asked her to send a donation prior to his death. We're debating on the best way to record this check as our standard business practice is to not give soft credit to deceased individuals. One thought was to give Realized Bequest credit to the deceased couple. But, because the daughter is listed on the account and was the signer of the check we're not sure if this is the best option.

Has anyone else run into this situation? And if so, how did you handle crediting the gift?

Thank you in advance for any recommendations or guidance!

All my best,
Gretchen

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Gretchen Armentrout
Director Advancement Gift & Records
James Madison University
housergh@jmu.edu
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Original Message:
Sent: 6/13/2022 10:42:00 AM
From: Gretchen Armentrout
Subject: Realized Bequest or Other Gift Credit Type?

Good morning!

We received a check from a deceased couple whose daughter is also listed on the check as an account holder. The check was signed by the daughter as her parents both recently passed away (within a month of each other). The note included with the check states that her father had asked her to send a donation prior to his death. We're debating on the best way to record this check as our standard business practice is to not give soft credit to deceased individuals. One thought was to give Realized Bequest credit to the deceased couple. But, because the daughter is listed on the account and was the signer of the check we're not sure if this is the best option.

Has anyone else run into this situation? And if so, how did you handle crediting the gift?

Thank you in advance for any recommendations or guidance!

All my best,
Gretchen

------------------------------
Gretchen Armentrout
Director Advancement Gift & Records
James Madison University
housergh@jmu.edu
------------------------------

Thank you for the super speedy reply John! This is very helpful!!

------------------------------
Gretchen Armentrout
Director Advancement Gift & Records
James Madison University
housergh@jmu.edu
------------------------------

Original Message:
Sent: 06-13-2022 09:46 AM
From: John Taylor
Subject: Realized Bequest or Other Gift Credit Type?

It is likely the daughter is the executor and acting on behalf of the deceased parents.

I would record the gift on the record of the decedent.  Address the receipt to "The Estate of John & Jane Doe."  On the next line, indicate the daughters' name and ICO.

If this is not sufficient for the daughter, she will let you know.

John

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

Serving the Advancement Community Since 1987

Original Message:
Sent: 6/13/2022 10:42:00 AM
From: Gretchen Armentrout
Subject: Realized Bequest or Other Gift Credit Type?

Good morning!

We received a check from a deceased couple whose daughter is also listed on the check as an account holder. The check was signed by the daughter as her parents both recently passed away (within a month of each other). The note included with the check states that her father had asked her to send a donation prior to his death. We're debating on the best way to record this check as our standard business practice is to not give soft credit to deceased individuals. One thought was to give Realized Bequest credit to the deceased couple. But, because the daughter is listed on the account and was the signer of the check we're not sure if this is the best option.

Has anyone else run into this situation? And if so, how did you handle crediting the gift?

Thank you in advance for any recommendations or guidance!

All my best,
Gretchen

------------------------------
Gretchen Armentrout
Director Advancement Gift & Records
James Madison University
housergh@jmu.edu
------------------------------

Original Message:
Sent: 6/13/2022 10:42:00 AM
From: Gretchen Armentrout
Subject: Realized Bequest or Other Gift Credit Type?

Good morning!

We received a check from a deceased couple whose daughter is also listed on the check as an account holder. The check was signed by the daughter as her parents both recently passed away (within a month of each other). The note included with the check states that her father had asked her to send a donation prior to his death. We're debating on the best way to record this check as our standard business practice is to not give soft credit to deceased individuals. One thought was to give Realized Bequest credit to the deceased couple. But, because the daughter is listed on the account and was the signer of the check we're not sure if this is the best option.

Has anyone else run into this situation? And if so, how did you handle crediting the gift?

Thank you in advance for any recommendations or guidance!

All my best,
Gretchen

------------------------------
Gretchen Armentrout
Director Advancement Gift & Records
James Madison University
housergh@jmu.edu
------------------------------