BEQUEST LANGUAGE

Sample Suggested Language for Bequests to the UW Foundation

A bequest may be in the form of cash, securities, real estate, or other property. You should specify that the UW Foundation is to receive a certain amount or percentage of your estate, particular assets, or the remainder of your estate after providing for heirs. To discuss making a bequest or for assistance in drafting language, please contact us.

Following are some examples of various types of bequests:

Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.

Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Contingent bequests will result in a gift to the University only in the event of the death of other beneficiaries or the fulfillment of certain conditions described in your estate plans.

INCLUDING THE UW FOUNDATION IN YOUR WILL

The following includes several examples of suggested bequest wording to benefit the University of Wisconsin-Madison through the UW Foundation. The Foundation, an independent, nonprofit, tax-exempt corporation founded in 1945, raises, invests, and distributes gifts on behalf of the University.

Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision with the Foundation's Office of Planned Giving to ensure that your wishes will be properly followed and recognized.

Percentage of estate
For unrestricted purposes
I hereby give, devise, and bequeath to the University of Wisconsin Foundation, a nonprofit, nonstock Wisconsin corporation with its principal office in Madison, Wisconsin,__________________ percent ( %) of the rest, residue, and remainder of my estate as an unrestricted gift to be used in the area of greatest need at the time the gift is received.

Percentage of estate
For specific purposes
I hereby give, devise, and bequeath to the University of Wisconsin Foundation, a nonprofit, nonstock Wisconsin corporation with its principal office in Madison, Wisconsin,_______________percent ( %) of the rest, residue, and remainder of my estate to form an endowment fund for ___________________________________________.

This fund shall be a permanent endowment and shall be known as the _______________________________________ Fund. All distributions from the Fund shall be described as having been made available by this Fund.

Additional contributions to said Fund, whether by gift, bequest, or devise may be accepted at any time with the approval of the Foundation.

It is understood and agreed that should the purpose for which this Fund is instituted cease to exist, then the Foundation may devote said Fund for such other uses and purposes as it determines to be in accordance with my original intent in making this gift.

Specific amount
For unrestricted purpose
I hereby give, devise, and bequeath to the University of Wisconsin Foundation, a nonprofit, nonstock Wisconsin corporation with its principal office in Madison, Wisconsin, the sum of _______ dollars ($ ) as an unrestricted gift to be used in the area of greatest need at the time the gift is received.

Specific amount
For a specific purpose
I hereby give, devise, and bequeath to the University of Wisconsin Foundation, a nonprofit, nonstock Wisconsin corporation with its principal offices in Madison, Wisconsin, the sum of __________ dollars ($ ) to be used for _____________________________at the University of Wisconsin-Madison.

It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then the Foundation may devote said bequest for such other uses and purposes as it determines to be in accordance with my original intent in making this gift.

To assist you with your plans, the Office of Planned Giving can provide sample language for the program or area you wish to support. This confidential service is available to you without obligation.

To request specialized language for a will or trust, please contact Russ Howes at UWF 608-263-0371 or 1-800-443-6162 or e-mail us at Russell.Howes@uwfoundation.wisc.edu

Designating the purpose of a bequest:

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by the Foundation wherever the need is greatest.

Restricted: You may designate your bequest to support a special program or purpose that reflects your personal or professional interest.

If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

Designation of the use of the funds bequeathed (devised, in the case of real property) can, or should be, as detailed as is felt necessary to describe adequately the desired use and purpose of the bequest.