A Will is a Way to Join the Archimedes Club

Judith Kearney
ASME Foundation

The Archimedes Club was formed in 2003 to recognize members of ASME who have made a planned gift to the ASME Foundation, thereby helping to ensure the future of the Society as well as their own financial goals. These members have chosen to support the Foundation in its mission to honor excellence in the field, serve the profession through innovative programming, and invest in the future by building scholarship funds.

Named for Archimedes, known as an ingenious engineer and generally regarded as the greatest mathematician and scientist of antiquity, the Archimedes Club has grown from its humble beginnings to an elite membership of 56. Members will testify that joining the Archimedes Club by making a planned gift is easy and, in the long run, practical.

The most commonly used planned gift is a bequest or will. By creating a will you are able to direct how your assets will be distributed, provide for the needs of your heirs, and name your executor to administer your estate. That puts you in control of your estate. You can appoint guardians for your children, incorporate inheritance tax planning, and make contributions to heirs and to charities, thereby creating a legacy.

Without a will, your assets may not go to those you prefer, or exactly in the manner you wish. Your estate could pass according to the law of intestacy, which gives an order of priority to those entitled to your estate. That may not reflect your personal wishes.

Despite the obvious advantages of having a will and the ease of creating one, studies reveal that approximately 70 percent of Americans die without a will.

Like other planned gifts, a will enables you to make arrangements for your family and the distribution of your assets, and at the same time support the work of the Foundation. The Foundation puts all planned gifts to work in several ways. For example, the Foundation's endowment supports a grants program that accepts proposals from ASME sectors for innovative projects and programs that help today's mechanical and multidisciplinary engineers to hone their skills and advance their careers. The Foundation also provides the option to designate your planned gift for a specific purpose, such as a named scholarship or award.

Archimedes Club members are invited to two special receptions in their honor each year, as well as to other events as they happen. They also receive a special newsletter several times a year in which they are among the first to hear news of great relevance to the Society and to the Foundation. Of course, the biggest benefit to becoming an Archimedes member is your own peace of mind, and knowing that you have left a legacy that includes both your heirs and your profession.

The ASME Foundation encourages you to seek advice from your attorney in preparing a will or other legal document. Information on wills and other planned gifts is available through the Foundation office by contacting Judith Kearney at (212) 591-7445, e-mail KearneyJ@asme.org.

To find out more about the ASME Foundation, visit http://foundation.asme.org.

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