Sample Bequest Language

The following language may aid you and your advisor in preparing your bequest for the benefit of University of Puget Sound. 

Specific or General Bequest

A specific or general bequest is one in which you state a fixed dollar amount, a percentage of your estate, or a specific asset to the beneficiary. This could include a gift of cash, securities, real estate or personal property to be designated to The University of Puget Sound.  For example, your specific bequest might state:

“I give, devise and bequeath to The University of Puget Sound, Tacoma, Washington which has a  federal tax identification number of 91-0564961 (the sum of $_______,or _____ % of my residuary  estate, or describe the specific asset to be gifted) (insert one option from below)

 

Residuary Bequest

With a residuary bequest you direct that all or part of the remainder of your estate, after the specific bequests and any debts, taxes and expenses have been satisfied, be designated to The University of Puget Sound. For example, your residuary bequest might state:

“All of the rest, residue, and remainder of my estate I give, devise and bequeath to The University of Puget Sound, Tacoma, Washington which has a federal tax identification number of 91-0564961 (insert one option from below)

 

Contingent Bequest

A contingent bequest names The University of Puget Sound as the recipient of your estate only in the event of a specified circumstance. For example, the University of Puget Sound may be named a contingent beneficiary if another beneficiary chooses not to accept a bequest, or if the beneficiary or beneficiaries named in your will are no longer living at the time of your death. For example, your contingent bequest might state:

“In the event that my designated beneficiary disclaims his or her interest, or is no longer living at the time of my death, I bequeath (the sum of $_____, or _____ % of the amount designated for any such deceased or disclaiming beneficiary,) to The University of Puget Sound, Tacoma, Washington which has a federal tax identification number of 91-0564961 (insert one option from below) 

Options

(a) for general purposes as determined by the president and trustees. OR

(b) to be added to the _______________________ (insert fund name and #), University of Puget Sound. OR

(c) in accordance with a Memorandum of Understanding on file with the University of Puget Sound.”

 

Abbreviated Bequest Format

“I give, devise and bequeath to The University of Puget Sound, Tacoma, Washington, which has a federal tax identification number of 91-056496, (insert dollar amount, percentage of estate, or exact description of property to be devised) for (general purposes, as determined by the president or trustees), (or, a specific program), in accordance with the MOU on file with The University of Puget Sound.”