Sample
Language for Will
The following are recommended clauses that
may be used to make a gift to the University
of Minnesota Foundation through your will
or revocable/living trust.
1. General Unrestricted Bequest
" I give, devise and bequeath to the University
of Minnesota Foundation, Minneapolis,
Minnesota 55455, (percentage of residue,
sum, or description of property), the
principal and income of which shall be
used for such University purposes as the
Board of Trustees may determine."
2. Specific Program - But
Unrestricted as to Use
" I give, devise and bequeath to the University
of Minnesota Foundation, Minneapolis,
Minnesota 55455, (percentage of residue,
sum, or description of property), the
principal and income of which shall be
distributed by the Board of Trustees to
the (name of College or Program) for use
where the need is greatest."
3. Restricted - to be used
only for specific purposes, e.g., scholarships
" I give, devise and bequeath to the University
of Minnesota Foundation, Minneapolis,
Minnesota 55455, (percentage of residue,
sum, or description of property), the
principal and income of which shall be
distributed by the Board of Trustees as
scholarships to students enrolled in (name
of College or Program)."
4. Bequest of Residue - after
all other bequests are made
" All [or a portion] of the rest, residue, and remainder
of my estate, both real and personal, of every kind and description,
wherever situated and whether now owned or hereafter acquired,
including any power of appointment, I give, devise, and bequeath
to the University of Minnesota Foundation, Minneapolis, Minnesota
55455, the principal and income of which shall be used for
such University purposes as the Board of Trustees may determine."
5. Contingent Bequest - if
other bequests cannot be completed
" In the case of a failure or lapse of
any legacy or device herein such that
the property so bequeathed or devised
would pass by intestacy, I direct that
in lieu thereof such property shall pass
to the University of Minnesota Foundation,
Minneapolis, Minnesota 55455, to be known
as the (name) Fund, the principal and
income of which shall be used for such
University purposes as the Board of Trustees
may determine."
OR
"If [none of] the above person[s] survive[s]
me, or if there is no one in existence
who is a member of the class of persons
designated in paragraph [ ], I give, devise
and bequeath such property to the University
of Minnesota Foundation, Minneapolis,
Minnesota to be known as the (name) Fund,
the principal and income of which shall
be used for such University purposes as
the Board of Trustees may determine."
6. Addition to Endowment Fund
" I give, devise and bequeath to the University
of Minnesota Foundation, Minneapolis,
Minnesota 55455, the sum of $ ____________
Dollars (or otherwise describe the gift)
and direct that this bequest be added
to the (name) Endowment Fund of (name
of the college or campus which it benefits)."
7. Pursuant to Memorandum
of Agreement.
" I give, devise and bequeath to the University of Minnesota
Foundation, Minneapolis, Minnesota 55455, the sum of $____________(or
otherwise describe the gift) and direct this bequest to the
[School/College/Program] of ____________ to be used pursuant
to my Memorandum of Agreement on file at the School and the
Foundation."
Questions?
Contact a planned giving specialist.
The information on this Web site is not intended as legal
or tax advice, but as
accurate and authoritative general information on planned
giving.
For legal advice, please consult an attorney.
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