Saint Mary's College's Bequest Language
An excellent way for you to support Saint Mary's College's mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
There are a number of ways you can make a bequest to Saint Mary's College.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Saint Mary's College in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Saint Mary's College, we recommend the following language:
If you are considering making an outright bequest to Saint Mary's College, we recommend the following language:
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Saint Mary's College flexibility should it no longer be possible for Saint Mary's College to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to Saint Mary's College or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for Saint Mary's College in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Types of Bequests
There are a number of ways you can make a bequest to Saint Mary's College.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Saint Mary's College.
Specific Bequest. A specific bequest involves making a gift of a specific asset or a gift for a specific dollar amount to Saint Mary's College Notre Dame, IN.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Saint Mary's College.
Specific Bequest. A specific bequest involves making a gift of a specific asset or a gift for a specific dollar amount to Saint Mary's College Notre Dame, IN.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Saint Mary's College.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Saint Mary's College in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Saint Mary's College, we recommend the following language:
I give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, ____ % of my estate to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
2. Specific BequestIf you are considering making an outright bequest to Saint Mary's College, we recommend the following language:
Bequest of a Specific Dollar Amount
I give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, the sum of $ _____ to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
Bequest of Specific Real Estate
I give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, all of the title , right, and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF REAL PROPERTY to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
3. Residual BequestI give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, the sum of $ _____ to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
Bequest of Specific Real Estate
I give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, all of the title , right, and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF REAL PROPERTY to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
I give, devise, and bequest to the Corporation of Saint Mary's College, Notre Dame, Indiana, EIN # 35-0868158, a not-for-profit organization, ALL OR _____% of the rest, residue and remainder of my estate to be used in accordance with the terms of the most recent fund agreement or other written directive I have signed and delivered to Saint Mary's College during my lifetime that provides instructions for the use of this gift, and, if none exists, for the general purposes of Saint Mary's College.
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Saint Mary's College flexibility should it no longer be possible for Saint Mary's College to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Saint Mary's College, it shall become impossible for Saint Mary's College to use this bequest to accomplish the specific purposes of this bequest, Saint Mary's College may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have any questions about how to make a bequest to Saint Mary's College or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for Saint Mary's College in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
