Sample Bequest Language
While doing estate planning, some donors find it helpful to have sample will language to share with their attorney. Here is some language that we would suggest:
I give, devise and bequeath to Wilkes University: the sum of __________dollars ($_____); or the following described property, to wit: _______________________ or _____percent (__ %) of the rest, residue and remainder of my estate to establish the (Name) FUND, as an endowed (or a non-endowed) fund, the income only of which shall be used (if non-endowed, the principal and income of which shall be used) for the following purpose:
[insert exact purpose here; i.e. scholarships, fellowships. research, etc.]
For designated (restricted) bequests, some donors add language in their will that gives the University flexibility to use their bequest for some other purpose in the event that the project or purpose designated by the donor is no longer needed when the funds become available. This can be accomplished by adding the following sentence at the end of your bequest provision:
"If, at the time this bequest becomes effective, the funds are not needed for this purpose, then the Board of Trustees may direct the funds to be used for a purpose as closely related as possible to the original purpose described in this provision."