A New Jersey teacher left a surprisingly large gift for students in will, that will help pay for college.
Genevieve Via Cava taught for years as a special education teacher in New Jersey. She was not a particularly well-known person outside of those she taught. However, she was apparently a very frugal person and was able to amass a small fortune, by saving as much money as she could.
A longtime friend said that Via Cava even refused to get needed hearing aids because of the expense. Via Cava passed away at the age of 89. Her frugality will pay off for future generations of students in the district in which she taught, as The New York Times reports 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 of such people 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.
Visit an estate planning attorney to hear about your options for leaving money to charity.
For more information about estate planning in Orlando, FL (and throughout the rest of Central Florida), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: New York Times (June 8, 2018) "New Jersey Teacher Leaves Students $1 Million Gift in Her Will."