What is a Bequest?
A bequest is a gift made through a will or living trust. Bequests normally assume one of two forms. Specific bequests give a sum of money or specific items of property. For example, a will might read “$5,000 to ABC” or “my house to my eldest daughter, Dorothy Smith.” Residuary bequests are paid from the remainder of the estate after all specific bequests have been paid. For example, a will might read “10% of the rest of my estate to The University Foundation at Sacramento State.”
Sometimes, a will contains a contingent bequest. This means that the distribution will happen only under certain circumstances. For example, it might read, “I leave my entire estate to my sister, Louise Williams, if she survives me; but if she predeceases me, to The University Foundation at Sacramento State to be used for scholarships.”
A bequest to The University Foundation at Sacramento State
through your will or living trust provides a legacy
to benefit the students of future generations.
Sample Bequest Language
The
sample language that follows is provided as a guide for you and your
attorney:
I give, devise and bequeath to The University Foundation at Sacramento State :
The
sum of :
$_____________________________________ (dollars)
OR
______% (____________________________ percent)
Of the remainder of my estate
OR
The following property, to wit:
(describe property)
___________________________________________
___________________________________________
___________________________________________
as an unrestricted gift to benefit Sacramento State to be used wherever
the need is greatest.
Please
Contact us or have your attorney
contact us to discuss restricted bequests.
What’s Involved in Making a Bequest?
What if My Will Is Already Done?
Other Simple Options