Sample Gift Language for Your Will or Revocable Living Trust
A gift to DePauw University in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
- is easy to arrange.
- will not alter your current lifestyle in any way.
- can be easily modified to address your changing needs.
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to DePauw University (Tax ID #35-0869045), located in Greencastle, IN, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language
Naming DePauw University as a beneficiary of a specific amount from your estate is easy:
I give and devise to DePauw University (Tax ID #35-0869045), located in Greencastle, IN, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
DePauw University or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to DePauw University (Tax ID #35-0869045), located in Greencastle, IN, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
You may name DePauw University (Tax ID #35-0869045) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming DePauw University as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming DePauw University as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support DePauw University free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify DePauw University. We can also assist you with the proper language for your beneficiary designation to DePauw University.
If you or your attorney would like DePauw University to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.