What's involved in making a bequest?
First, discuss with your attorney the kind of bequest you want to make:
- A bequest of a specific asset or a specific amount of money;
- A bequest of a percentage of your remaining estate (after paying all specific bequests); or
- A contingent (i.e. conditional) bequest.
Restricted or Unrestricted?
Often, bequests are unrestricted, which is especially useful because this gives Sacramento State the flexibility to use the funds where the need is greatest. Other times, donors may have a particular purpose for which they wish to restrict their bequest.
One of the most common restrictions is to endow a fund, which means permanently keeping it intact, with only the income spent. The minimum bequest to endow a fund is $10,000. Other common restrictions include particular colleges, departments, and/or purposes (e.g., scholarships).
For more information contact Deborah J. Rice , Director of Planned Giving