BEQUEST LANGUAGE

Gifts provided through wills and personal trusts have become the foundation of the American philanthropic tradition. In fact, the vast majority of future gifts established for and ultimately received by Michigan State University are the result of charitable bequests established in one’s will or personal trust. Such gifts enable you to make significant contributions that may not have been possible during your lifetime. Charitable bequests can take various forms. Sample bequest language is offered below for your legal counsel’s consideration in preparing your will or trust. We invite you to contact the gift planning professionals within the MSU Office of Gift Planning for assistance in preparing precise bequest language addressing your charitable intent and plans for MSU. We can help you effectively incorporate your philanthropic goals and interests within your estate planning documents.

Specific Amount or Percentage Bequest

A specific amount or percentage of one’s estate bequest is one of the most popular types of charitable bequests. With such a bequest, you designate that MSU or the MSU Foundation receives a specific dollar amount, percentage of your estate or a specific piece of property.

Bequest Language Example

I give and devise to Michigan State University, East Lansing, Michigan, the sum of $__________ dollars (or state percentage of estate) to be held, administered, and used by the Board of Trustees for support of Michigan State University in the area of greatest opportunity (or designated to your college or degree, academic, athletic or cultural program of your choice).

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

Residuary Bequest

A residuary bequest is used to give Michigan State University all or a portion of your property after all debts, taxes, expenses and other beneficiaries have been paid.

Bequest Language Example

I give and devise to Michigan State University, East Lansing, Michigan, all (or state percentage) of the rest, residue, and remainder of my estate, both real and personal, to be held, administered, and used by the Board of Trustees for support of Michigan State University in the area of greatest opportunity (or the residual percentage may be designated to your college, degree, academic, athletic or cultural program/department of your choice).

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

Contingent Bequest

In anticipation of an unexpected occurrence, or if there should be certain other specific conditions that apply, a contingent bequest will ensure that property will pass to Michigan State University rather than to unintended beneficiaries.

Bequest Language Example

If (insert name or names) does not survive me, I give and devise to Michigan State University, East Lansing, Michigan, all the rest, residue, and remainder of my estate, both real and personal, to be held, administered, and used by the Board of Trustees for support of Michigan State University in the area of greatest opportunity (or designated to your college, degree, academic, athletic or cultural program/department of your choice).

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

Restricted Designation Bequest

As many people elect to do, you may prefer to restrict your bequest for a specific purpose or designation at MSU. For example, if you wish to memorialize a family member or recognize an honored colleague, you can establish a named endowed fund that will provide perpetual support for an academic, cultural or athletic program in which you (or the person to be honored or memorialized) are or were interested and involved. A restricted bequest usually should be made in the broadest terms possible consistent with your interests, which guards against the possibility of the purpose of your bequest becoming obsolete.

Please call or write the professionals within the MSU Office of Gift Planning for precise bequest language for you and your legal counsel’s review and possible implementation within your will(s) and/or personal trust(s).

Bequest Language Example

I give and devise to Michigan State University, East Lansing, Michigan, the sum of $__________ (or state percentage of distributable estate) to be held, administered, and used by the Board of Trustees for the establishment of a specific endowed scholarship/fellowship or discretionary fund (for the college, degree, academic, athletic or cultural program/department of your choice) at Michigan State University.

The earnings from the fund are to be disbursed at the discretion of the dean of the college (or director of the program) per the terms of the completed endowed fund agreement signed and on record at Michigan State University. This endowed fund shall be named the _______________________________________ Endowed Fund.

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.