Bequests
Are you aware of the importance of making a will? In addition to making certain that your estate is passed on to family members according to your wishes, your will also provides for you to remember a charitable institution through a special bequest.
A charitable bequest is the usual way of leaving some of your assets to qualified charitable institutions upon your death. You may choose to leave a specific dollar amount, real or personal property, a percentage of your estate, all or a portion of the residue of your estate, or a combination of one or more of the above. Federal estate tax laws and the laws of many states encourage charitable bequests by allowing an estate tax deduction for the full value of charitable gifts.
Many alumni and friends have chosen to support the University after their deaths by making charitable gift provisions in their wills. These endowed gifts help ensure the future of Texas Woman’s University as an educational institution primarily for women.
If you decide to have your attorney prepare your will or make changes to your existing will concerning a charitable bequest, be sure to fully identify the charitable institution (example: Texas Woman’s University Foundation). Language within the will may suggest how the benefactor is to use the gift; however, most charitable bequests are left to the designated organization or institution for its general purposes as determined by its board of directors. Many years may pass before the funds are received, and the needs of the institution may change. Donors usually wish to allow maximum flexibility for the use of the funds bequeathed.
If you have not made your will, we encourage you to have your attorney prepare one to meet your wishes and to consider the Texas Woman’s University Foundation as a beneficiary.
Suggested wording for will:
“I give and bequeath to the Texas Woman’s University Foundation, P. O. Box 425618, Denton, Texas 76204-5618, the sum of (amount) (or _____shares of
____________stock) (or ___% percent) of total estate.”
“I give and bequeath the sum of (amount) (or property as listed herein) to the Texas Woman’s University Foundation, P. O. Box 425618, Denton, Texas 76204-5618, to establish the (name of endowment) for the purpose of______________________________________________.