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Sample Bequest Suggested Wording
General alternative wording is shown in parentheses ( ).
Wording for unrestricted bequest is identified as (1);
or
a restricted bequest is identified as (2).
"I give and bequeath ($_________) or (the residue of my estate) or (________ share of the residue of my estate) to the Foundation for California University of Pennsylvania, a non-profit, charitable corporation located in California, Pennsylvania . The said Foundation shall place all money (and other assets) so received by it in its Endowment Fund,
(1) and shall use the principal at the discretion of the Board of Directors of the Foundation and the income therefrom for the general instructional, administrative and maintenance purposes of the University;
OR
(2) and shall call that part of its said Endowment the _______________ Scholarship Fund* or (other discretionary designation fund*) and shall use the income therefrom for the benefit of worthy students at California University of Pennsylvania, who may be in need of financial assistance, as determined under the University policies, by granting scholarship funds to such students or (other discretionary designation)."
* when a scholarship or other discretionary designation fund is named, benefactors are urged to contact the University Foundation regarding the definition, purposes, and criteria for that fund and its most effective impact.
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The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.
