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 ____________________."