Idaho State University Foundation's Bequest Language
An excellent way for you to support the Idaho State University Foundation's mission is to leave us a bequest in your will or living trust. A gift through your will or living trust allows you to make a major investment in Idaho State University, while not impacting your current income.
There are a number of ways you can make a bequest to the Idaho State University Foundation.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Idaho State University Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to meet your charitable objectives. We will also work with you and your attorney to create a fund agreement, a document composed and signed during your lifetime which provides all details as to how you want your gift used at Idaho State University.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Idaho State University Foundation flexibility should it no longer be possible for the Idaho State University Foundation to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to the Idaho State University Foundation, or to request any additional information that might be helpful to you and your attorney.
If you have included a bequest for the Idaho State University Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your investment in the future of Idaho State University.
Types of Bequests
There are a number of ways you can make a bequest to the Idaho State University Foundation.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $25,000 to the Idaho State University Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Idaho State University Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Idaho State University Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Idaho State University Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Idaho State University Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Idaho State University Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Idaho State University Foundation.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
Charitable bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Idaho State University Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, for the Idaho State University Foundation's general use and purpose.
Bequest of Specific Real Property
Please contact the Idaho State University Foundation before making any intentions of real property, as there is a separate gift acceptance process for these gifts. I hereby give, devise and bequeath DESCRIPTION OF REAL PROPERTY OR ADDRESS to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, for the Idaho State University Foundation's general use and purpose.
2. Percentage BequestI hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, for the Idaho State University Foundation's general use and purpose.
Bequest of Specific Real Property
Please contact the Idaho State University Foundation before making any intentions of real property, as there is a separate gift acceptance process for these gifts. I hereby give, devise and bequeath DESCRIPTION OF REAL PROPERTY OR ADDRESS to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, for the Idaho State University Foundation's general use and purpose.
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, for the Idaho State University Foundation's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for the Idaho State University Foundation's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to the Idaho State University Foundation, a nonprofit organization located at 921 S 8th Avenue | STOP 8050, Pocatello, ID, 83209, Federal Tax ID #82-6013543, DESCRIPTION OF PROPERTY to be used for the Idaho State University Foundation's general use and purpose.
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to meet your charitable objectives. We will also work with you and your attorney to create a fund agreement, a document composed and signed during your lifetime which provides all details as to how you want your gift used at Idaho State University.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Idaho State University Foundation flexibility should it no longer be possible for the Idaho State University Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Directors of the Idaho State University Foundation, it shall become impossible for the Idaho State University Foundation to use this bequest to accomplish the specific purposes of this bequest, the Idaho State University Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have any questions about how to make a bequest to the Idaho State University Foundation, or to request any additional information that might be helpful to you and your attorney.
If you have included a bequest for the Idaho State University Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your investment in the future of Idaho State University.
