Bequest Language

The following are suggested forms for bequests to Bowling Green State University using its legal name, the Bowling Green State University Foundation, Inc.

These are suggestions only. Legal forms should always be prepared by your attorney.

It is most advantageous to your heirs to bequeath as much IRD (income in respect of a decedent) income to charity and other, less tax-burdened, assets to your heirs. Suggested wording:

"I instruct that all charitable gifts, bequests and devises should be made, to the extent possible, from assets that constitute income in respect of a decedent, as that term is defined in the Internal Revenue Code."

Unrestricted Gift
"I give, devise, and bequeath to the Bowling Green State University Foundation, Inc., an Ohio not-for-profit corporation, located at Bowling Green, Ohio, a) the sum of $___________, or b) ______% of my estate, or c) real or personal property herein described to be used for the benefit of Bowling Green State University as the Foundation Board of Directors may determine."

Residuary Clause
"All the rest, residue and remainder of my estate, both real and personal property, I give, devise and bequeath to the Bowling Green State University Foundation, Inc., an Ohio not-for-profit corporation, located at Bowling Green, Ohio, to be used (a) for the benefit of Bowling Green State University as the Foundation Board of Directors may determine; or (b) for the benefit of Bowling Green State University ___________________________________(a specified purpose)."

Restricted Gift
"I give, devise and bequeath to the Bowling Green State University Foundation, Inc. an Ohio not-for-profit corporation, located at Bowling Green, Ohio, (a) the sum of $________ or (b) ______% of my estate for the purpose of _____________________ or if such use, in the judgment of the Foundation Board of Directors is or shall become impracticable or unwise, then for such purpose as the said Board shall determine."

Contingent Bequest
"If the above named legatees or devisees (or beneficiaries) should predecease me, then I hereby give, devise and bequeath the same to the Bowling Green State University Foundation, Inc., an Ohio not-for-profit corporation, located at Bowling Green, Ohio, to be used (a) for its benefit as the Foundation Board of Directors may determine or (b) for the purpose of __________________________________. "

Suggestion If Restricted Gifts Are Made
Because the future is not predictable and because no donor wishes to have his/her gift go unused if the need for funds for purposes he/she may designate no longer exists, it is suggested that the following provision be made when gifts are made for restricted purposes:

" If, in the opinion of the Foundation Board of Directors or their successors, the need for funds for the purpose described above no longer exists, at some future date the Board of Directors is authorized to use these funds in the best interest of the University, provided that the identity of The Fund is maintained."

Please contact us with any questions at:
Bowling Green State University Foundation, Inc.
Kirk Ross, JD '01
Director of Gift Planning
419-372-7617
E-mail: ekross@bgsu.edu
www.bgsu.edu/offices/development


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