BEQUESTS
Bequests to Bryant can take many forms, and the Development team can help you determine the best options for your estate plan.
Types of Bequests
A specific bequest may be in the form of cash, securities, other property, or a fixed percentage of your estate.
A residuary bequest would give Bryant University all or a portion of your estate after other specific bequests have been honored, and all debts, taxes, and expenses have been paid.
Alternatively, Bryant may be a contingent beneficiary or second choice of a trust you establish in your will to provide income to one or more beneficiaries for life. Bryant would receive the principal of the trust upon the death of the last surviving beneficiary.
Your bequest may be designated as a one-time gift, or be used to endow a fund for a specific purpose. The minimum amount to endow a fund is $50,000.
Endowed gifts are held in perpetuity and invested prudently to generate the vital funds needed for Bryant's continued growth.
Sample Testamentary Language
A general bequest:
I give (a specific asset or X percent of the rest, residue, and remainder of my estate) to Bryant University in Smithfield in the State of Rhode Island and Providence Plantations for its general use and purposes.
An outright, one-time bequest for a specific purpose:
I give (X dollars, or a specific asset, or X percent of the rest, residue, and remainder of my estate) to Bryant University in Smithfield in the State of Rhode Island and Providence Plantations to be used (to support the Annual Fund, athletics, the library, etc).
An endowment bequest:
I give (X dollars, or a specific asset, or X percent of the rest, residue, and remainder of my estate) to Bryant University in Smithfield in the state of Rhode Island and Providence Plantations to be used (to endow a scholarship, a library fund, a faculty position, etc). This fund is to be known as the (name of fund), the income from which is to be used for (stated purpose). If the Board of Trustees of Bryant University, in its sole judgment, determines that the original intent is no longer feasible, the University may use the income for such purposes as, in its sole judgment, will most nearly fulfill the original intent.
Call (877) 353-5667 and ask to speak with a planned giving officer to discuss your unique situation and special plans.
The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.
|
