Remembering UAM |
|
The following wording should be used only upon the advice of an attorney. WILLS 1. Unrestricted Bequest: “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello.” OR “I give, devise and bequeath to The University of Arkansas Foundation, Inc., shares of ABC Corporation common stock, for the benefit of the University of Arkansas at Monticello.” OR “I give, devise and bequeath all of the rest of my estate (or percent of the rest of my estate) to The University of Arkansas Foundation, Inc., for the benefit of the University of Arkansas at Monticello.” 2. Designated Bequest: “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the (school, department, division, or program) at the University of Arkansas at Monticello.” OR “I give, devise and bequeath all of the rest of my estate (or percent of the rest of my estate) to The University of Arkansas Foundation, Inc. for the benefit of the (school, department, division, or program) at the University of Arkansas at Monticello.” 3. Restricted Bequest for Specific Purpose: “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello, to be used for the following purposes: (set forth purpose or purposes).” OR “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello, to be used in accordance with a memorandum of understanding dated , 20__, on file with The University of Arkansas Foundation, Inc.” (Memorandum of understanding should be in existence at time will is signed.) OR “I give, devise and bequeath all of the rest of my estate (or percent of the rest of my estate) to The University of Arkansas Foundation, Inc. for the benefit of the University of Arkansas at Monticello, to be used for the following purposes: (set forth purpose or purposes).” 4. Bequest to Establish or Add to an Endowed Fund: “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be used to establish The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the School of at the University of Arkansas at Monticello, with the income only to be used for said purpose.” OR “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be used to establish The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the School of at the University of Arkansas at Monticello, with the income only to be used in accordance with a memorandum of agreement dated , 20__, on file with The University of Arkansas Foundation, Inc.” (Memorandum of agreement should be in existence at time will is signed.) OR “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be added to The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the University of Arkansas at Monticello, with the income only to be used therefor.” 5. Contingent Provision: “If any of the above beneficiaries should predecease me, then I give the property, real or personal, that each such beneficiary would have received had he or she survived me, to The University of Arkansas Foundation, Inc., for the benefit of the University of Arkansas at Monticello.” TRUSTS 1. Unrestricted Provision: “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello.” OR “Trustee shall distribute to The University of Arkansas Foundation, Inc., shares of ABC Corporation common stock, for the benefit of the University of Arkansas at Monticello.” OR “Trustee shall distribute the remainder of the trust estate (or percent of the remainder of the trust estate) to The University of Arkansas Foundation, Inc., for the benefit of the University of Arkansas at Monticello.” 2. Designated Provision: “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the (school, department, division, or program) at the University of Arkansas at Monticello.” OR “Trustee shall distribute the remainder of the trust estate (or percent of the remainder of the trust estate) to The University of Arkansas Foundation, Inc. for the benefit of the (school, department, division, or program) at the University of Arkansas at Monticello.” 3. Provision for Specific Purpose: “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello, to be used for the following purposes: (set forth purpose or purposes).” OR “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) for the benefit of the University of Arkansas at Monticello, to be used in accordance with a memorandum of understanding dated , 20__, on file with The University of Arkansas Foundation, Inc.” OR “Trustee shall distribute the remainder of the trust estate (or percent of the remainder of the trust estate) to The University of Arkansas Foundation, Inc. for the benefit of the University of Arkansas at Monticello, to be used for the following purposes: (set forth purpose or purposes).” 4. Provision to Establish or Add to an Endowed Fund: “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be used to establish The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the School of at the University of Arkansas at Monticello, with the income only to be used therefor.” OR “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be used to establish The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the School of at the University of Arkansas at Monticello, with the income only to be used in accordance with a memorandum of agreement dated , 200__, on file with The University of Arkansas Foundation, Inc.” OR “Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $ dollars (or the following described property or assets) to be added to The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for the benefit of the University of Arkansas at Monticello, with the income only to be used therefor.” 5. Contingent Provision “If any of the above beneficiaries should predecease the settlor, then trustee shall distribute the property, real or personal, that each such beneficiary would have received had he or she survived settlor, to The University of Arkansas Foundation, Inc., for the benefit of the University of Arkansas at Monticello.” CHANGED CONDITIONS The following language is suggested if the will bequest or trust provision is for a designated or restricted purpose: “If the School of ceases to exist and all or part of these funds cannot be used as originally intended, the Chancellor of the University of Arkansas at Monticello may redirect the funds for use in programs that are as closely compatible with my original intent as possible and that are in the best interests of the University of Arkansas at Monticello.” The preceding wording should be used only upon the advice of an attorney. UAM Office of Advancement |