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Bequest Through Will or Living Trust
(Sample language)
- Unrestricted Gift: A
gift that can be used where need is greatest
I give to Michigan State University, a non-profit 501(c)(3)
Corporation, headquartered in East Lansing, MI the
sum of $_______* for its
general purposes.
- Gift for a Specific Purpose: A
gift that is to be used for a specific purpose
I give to Michigan State University, a non-profit 501(c)(3)
Corporation, headquartered in East Lansing, MI the
sum of $_______* to
be used for [state purpose].
- Perpetual Endowment Fund: A
gift that lasts in perpetuity
I give to Michigan State University, a non-profit 501(c)(3)
Corporation, headquartered in East Lansing, MI the
sum of $_______*,
to be used as a permanent endowment, the income only from which
shall be used for its general purposes (or describe the specific
purpose, if desired).
- Residuary Bequest: Leaves
any remainder after all other bequests have been paid
All the rest, residue, and remainder of my estate, both real
and personal, I give to Michigan State University, a non-profit
501(c)(3) Corporation, headquartered in East Lansing, MI for
its general purposes.
- Contingency Gift: Takes
effect only if a primary intention can’t be met.
If (name of 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 Michigan State University, a non-profit 501(c)(3)
Corporation, headquartered in East Lansing, MI all
of the rest, residue, and remainder of my estate, to be used
for its benefit.
- Safety Language: Language
added whenever a gift is restricted
In the event the purposes of the restriction, in the opinion
of the Board of Directors of Michigan State University can
no longer be served, the Board may devote any remaining assets
exclusively for charitable purposes that: (a) are within the
scope of the charitable purposes of charity (b) most nearly approximate
the original purpose of the gift; and (c) benefits charity.
* Rather than leaving
a sum certain, you can include language that refers to a percentage
of your estate or a description of the property you wish to give.
For more information
Email
us, complete the personal
illustration form, or call us at (517) 884-1068 so
that we can assist you through every step of the process.
Michigan State University
300 Spartan Way
East Lansing, MI 48824-1005
(517) 884-1068 | Fax: (517) 432-1129
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