Sample Bequest Language
Please
consult with your attorney regarding specific bequest language. The Office of
Development is pleased to provide you or your advisors with detailed
information.
1. Specific bequest, unrestricted purpose
“I give and
bequeath to Agnes Scott College, in Decatur, Georgia, the sum of [xxx]
dollars. This gift shall be used to further the educational mission of
Agnes Scott College in such a manner as the Trustees of the college may
direct.”
2. Specific
bequest, restricted for endowment
“I give and
bequeath to Agnes Scott College, in Decatur, Georgia, the sum of [xxx] dollars
to create an endowed fund to be named [xxx], which shall be invested as the
Trustees of the college may deem best. Distributions from the endowed
fund shall be made each year in accordance with the spending policies of the
college and shall be used for [scholarships] [faculty support] [the study of
the sciences or humanities] at Agnes Scott College. The fund, for
purposes of investment, may be combined with other endowment funds of Agnes
Scott College.”
3. Percentage bequest
“I give and
bequeath to Agnes Scott College, in Decatur, Georgia, [xx] percent of my
estate, to be used to further the educational mission of Agnes Scott College in
such a manner as the Trustees of the college may direct” (or for another
purpose specified by testator, see example 2 above.)
4. Bequest
of residuary estate
“All the
rest, residue and remainder of my estate, both real and personal property and
whatever kind and wheresoever situated, which I may own or have the right to
dispose of at the time of my death, I give and bequeath to Agnes Scott College,
in Decatur, Georgia, to be used to further the educational mission of Agnes
Scott College in such a manner as the Trustees of the College may direct” (or
for another purpose specified, see example 2 above.)
5. Percentage
bequest of residuary estate
“I give and
bequeath to Agnes Scott College, in Decatur, Georgia, [xx] percent of my
residuary estate, to be used to further the educational mission of Agnes Scott
College in such a manner as the Trustees of the college may direct” (or for
another purpose specified, see example 2 above)
Request for Savings Clause
As the passage of time may cause some of the college’s needs to change, we recommend that restrictions of bequest gifts be stated broadly. If your bequest is restricted for a particular purpose, the college requests that you and your attorney incorporate a “savings clause.” Such a clause might read as follows:
“If at the time this bequest is received by Agnes Scott College, or any time thereafter, the Trustees of the college determine that all or any part of said income from the Fund can no longer be utilized to best advantage for the institutional purpose designated herein, then all or any part of said income may be used for such other institutional purpose which, in the sole discretion of the Trustees, shall most closely carry out my intention.”
If you would like more information, please contact Michelle S. Staes, J.D., director of capital gifts and planned giving, at 404.471.5475 or 800.868.8602, ext. 5475 or mstaes@agnesscott.edu.
