Bequests
One of the most rewarding types of planned gifts is that of a bequest - a gift made in a will. A bequest allows you to retain full ownership and use of your assets during your lifetime, but ensures that your designated assets will be distributed to the Foundation in accordance with your wishes.
A bequest generally takes one of three forms:
- Specific percentage of an estate;
- Specific dollar amount; or
- Specific item (i.e. a work of art or a book collection)
All forms of bequests can be either restricted or unrestricted. Restricted bequests are designated for a specific purpose or initiative, while unrestricted bequests provide UW Oshkosh with the greatest flexibility to use the funds where most needed. Bequests also are deductible against federal estate taxes and state inheritance taxes in most cases.
Sample Bequest Language
Foundation staff would be happy to assist you and your attorney in developing a bequest that best suits your needs and interests. We offer the following sample language as a starting point:
Start with:
Bequest of a specific percentage: I give and devise ___ percent (___%) of my residuary estate to the University of Wisconsin Oshkosh Foundation, Inc., in Oshkosh, Wisconsin, to be used …
Bequest of a specific dollar amount: I give the sum of ___ dollars ($___) to the University of Wisconsin Oshkosh Foundation, Inc., in Oshkosh, Wisconsin, to be used…
Bequest of a specific item: I give my ________, if I should own it/them at the time of my death, to the University of Wisconsin Oshkosh Foundation, Inc., in Oshkosh, Wisconsin, to be used…
End with:
Unrestricted bequest: … for its general charitable and educational purposes.
Restricted bequest: … to establish, or if already established, to be added to, the ________ Fund for the support of [specify].
(or) … for the support of [specify].