|
 |
 |
Planned Giving
Sample Bequest Language
Please note that gifts of this nature should be carefully considered
in relation to your comprehensive financial and estate plans. We strongly
recommend that you consult an attorney in the preparation of your will and
to supervise its execution so as to comply with your state requirements. The
following are examples for illustration only.
- When including a bequest provision in your will, always use the full legal name and provide the federal taxpayer identification number.
- Our full, legal name is: "University of Southern Indiana Foundation."
- Our federal taxpayer identification number is: 23-7042320.
Bequests for Unrestricted Purposes
Unrestricted gifts are to be used for the greatest need at the time to be
determined by the Board. A general unrestricted bequest is especially valued
by us.
-
For a bequest of securities, the possible language is: "I give University
of Southern Indiana Foundation all of my shares of XYZ stock or mutual fund
to be used for the benefit of the University of Southern
Indiana."
- For a bequest of cash, the possible language is: "I give to University of Southern Indiana Foundation the sum of (Amount) to be used for the benefit of the University of Southern Indiana."
If you do not want to specify the exact amount or nature of the intended gift, perhaps because the size of the future estate is difficult to estimate, a proportional bequest is often the best way to accomplish your goals. We would receive a percentage of the estate or the residue of the estate, after all other provisions have been met.
- Possible language is: "I give to University of Southern Indiana Foundation (percent) of my estate, or (percent of the rest, residue and remainder) of my estate to be used for the benefit of the University of Southern Indiana."
Contingent Bequest
A contingent bequest takes effect only if the primary intention cannot be
met (e.g. if the primary beneficiary does not survive the donor). This ensures
that property will not be distributed to unintended beneficiaries.
-
Possible language is: "If (name of primary beneficiary) does not survive me,
or shall die during the administration of my estate, or as a result of a common
disaster, then I give to University of Southern Indiana Foundation all of
the rest, residue, and remainder of my estate, to be used for the benefit
of the University of Southern Indiana."
Bequests for Restricted Purposes
If you would like to honor a family member,
a special person or provide support for a specific program or department that
was meaningful to you, then you can designate your bequest specifically for
that purpose. You simply use any form of the possible language included above,
and replace "to be used for the benefit of [ insert purpose or intent ]" with
the specific designation. Often specific guidelines govern the use of these
types of funds. Therefore, we recommend that you contact us to discuss your
restricted gift. We are here to help you as you plan.
Thank you for remembering the University of Southern Indiana. Click here to return to Wills and Bequests.
To discuss a possible planned
gift to support the University, contact
David A. Bower, CFRE
Director of University Development
President, USI Foundation
Phone: 812/465-7039
Fax: 812/465-1229
E-mail: bower@usi.edu
Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Planned Giving section has been developed for the USI Foundation by Future Focus. Please report any problems to webmaster. Revised: August 12, 2005 17:13.
Academics | Calendar | Athletics | Visitors | Events and News | Administration
8600 University Boulevard - Evansville, IN 47712-3596 - 812/464-8600
Copyright © 2005 University of Southern Indiana. All rights reserved.
