Planned Giving
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You can include the University of Tennessee in your will. If you already have a current will, a simple codicil may be added to include UT. The following sample language may be helpful for your attorney in drafting will provisions. Since the University of Tennessee system includes various campuses and institutes it is important for you to designate which campus or institute (UT Knoxville, UT Health Science Center, UT Martin, UT Chattanooga, the UT Institute for Public Service, or UT Space Institute) you wish to receive your bequest. You may also designate a specific college, school, library, department, or program. Or you may just designate "greatest need."
I give to the University of Tennessee, [campus/institute], ___________ (percent of my estate, dollars, property, securities, the residue, or remainder of my estate) to be used by __________ (college, library, department, etc.) to be used for __________ (however you wish you gift to be used or you may just stipulate "greatest need").
If you would like to create a named endowment fund ($25,000 minimum to establish a permanent endowment) with a portion of the annual income designated for a particular purpose, you can express your wishes this way:
I give to the University of Tennessee [campus/institute] the sum of __________ (or the following described property) to establish the __________ (the name you wish the endowment to bear) Endowment . The fund income, but not the principal, should be used by [college, library, or department] to be used for __________. The University shall have the authority and discretion to invest and reinvest such fund in accordance with policies established by its Board of Trustees. The portion of the fund's value that is spendable annually for the designated purpose is also to be determined, from time to time, by the Board of Trustees. If at any time in the future the need does not exist for the fund or should this conflict with Federal, State, or Local laws, statutes, regulations, or ordinances, the governing body of the University shall have the authority to select an appropriate use for this fund that closely approximates my original intent.
It is always a good idea to share your plans with a member of the Planned Giving team in order that we may be certain that the language used will accurately carry out your wishes. You may e-mail us at plannedgiving@tennessee.edu or call us at one of the numbers below. Thank you.
The UT System: 865-974-2115
UT Knoxville: 865-974-2115
UT Institute of Agriculture: 865-974-7423
UT Chattanooga: 423-425-4042
UT Health Science Center (Memphis): 901-448-5516
UT Martin: 731-881-7620
UT Medical Center at Knoxville: 865-544-6611
UT Institute for Public Service: 865-974-2326
UT Space Institute (Tullahoma): 865-974-2326
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The information on this site is not intended as legal, tax or investment advice.
For such advice, please consult an attorney, tax professional or investment professional.
Campuses and Institutes
