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Planned Giving

Bequest Language

Making a Bequest

Testamentary gifts made by a provision in a will or revocable living trust may be for a stated sum of money or a percentage of the residuary estate of an individual. A specific bequest of a described piece of property also may be made. Bequest language incorporated into a will or trust specifies how a testamentary gift is to benefit Saint Louis University. Although unrestricted bequests are encouraged because they can be used at the time they are received, bequests designated for a particular purpose also are possible and greatly appreciated.

The following excerpts of wills and trusts provide helpful information for individuals considering a gift of money or property to Saint Louis University. Note that the legal name of the University is St. Louis University, which is a Missouri corporation, and the University's Employer Identification Number is 43-0654872.

Minimum amounts are required to establish named funds. Please contact Kent LeVan in the Office of Planned Giving at 314-977-2357 or 800-758-3678 or plannedgiving@slu.edu for details.

SAMPLE BEQUEST PROVISIONS (For review by donor's attorney)

UNRESTRICTED BEQUEST
For a Percentage of an Estate
"I hereby give and bequeath to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, __________% of the residue of my estate as an unrestricted bequest to be used for its general purposes."

UNRESTRICTED BEQUEST
For a Specific Amount or Specific Property
"I hereby give and bequeath to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, [the sum of __________ dollars] [the following described property: [___________] as an unrestricted bequest to be used for its general purposes."

RESTRICTED BEQUEST
"I hereby give and bequeath to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, [__________% of the residue of my estate][the sum of __________ dollars] [the following described property: (___________)] to be used for ___________________ (state particular school, college, department, program or other purpose). However, if the (specific program) at St. Louis University ceases to exist, this bequest and any income and appreciation from it may be used for the general purposes of St. Louis University."

ENDOWMENT BEQUEST
"I hereby give and bequeath to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, [__________% of the residue of my estate][the sum of __________ dollars] [the following described property: (___________)] to establish the _________ ______________ Fund* for the purpose of (____________). The Fund is to be invested for total return, appreciation plus income, with annual distributions of income and appreciation as determined by the board of trustees of St. Louis University. However, if the (specific purpose or program mentioned above) ceases to exist at St. Louis University, the fund may be used for the general purposes of St. Louis University."

SCHOLARSHIP ENDOWMENT BEQUEST
"I hereby give and bequeath to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, [__________% of the residue of my estate][the sum of __________ dollars] [the following described property: (___________)] to establish the _______________________ Fund* for the purpose of providing financial aid to students attending [St. Louis University][(specific program) at St. Louis University]. The Fund is to be invested for total return, appreciation plus income, with annual distributions of income and appreciation for the provision of such financial aid as determined by the board of trustees of St. Louis University. [However, if the (specific program) at St. Louis University ceases to exist, the income and appreciation may be used to provide financial aid for students attending other programs at St. Louis University.]"

RESIDUARY BEQUEST
"I hereby give and bequeath all the rest, residue and remainder of my estate, both real and personal, to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, to be used for _____________."

CONTINGENCY BEQUEST
"In the event that none of the beneficiaries named above is living or in existence on the date of my death, I hereby give and bequeath all of the rest, residue and remainder of my estate, both real and personal, to St. Louis University, a Missouri corporation, located in St. Louis, Missouri, to be used for ____________________."

 

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.



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A charitable bequest is one or two sentences in your will or living trust that leave to Saint Louis University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Saint Louis University, a nonprofit corporation currently located at St. Louis, Missouri, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Saint Louis University or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our educational mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Saint Louis University as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Saint Louis University as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Saint Louis University where you agree to make a gift to Saint Louis University and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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