Sample Bequest Language
A charitable bequest to Clarkson in your will or living trust makes a final statement of your life’s philanthropy that memorializes you and/or loved ones in a way that helps others. Below are examples of bequest language for a gift to Clarkson. Please remember to consult your legal, financial and gift planning advisors before creating or modifying a bequest. The correct name to use in a bequest to Clarkson is:
Clarkson University, Potsdam, New York
Federal ID #15-0543659
Note: There may be tax advantages to your estate and your heirs if you make charitable bequests from IRD income (Income in Respect to a Decedent) such as a retirement plan. A statement in your will may direct that “all of my charitable bequests be made, to the extent possible, from income in respect to a decedent” (your legal counsel can provide specific language tailored to your circumstances). More recently, it is advised that gifts might be planned directly from the IRD asset, such as naming Clarkson as a beneficiary of your retirement plan, to avoid potential income tax issues to your estate. Your tax and legal advisors can help you craft a plan that best fits your circumstances.
Contact the Annie Society for help with questions or special planning circumstances, and to make sure your gift may be used at Clarkson as you intend.
Read about others who have included Clarkson in their estate plans at We Ensure the Experience.
Clarkson receives a specific dollar amount or stated percentage of the estate or specific assets (cash, securities, real estate, or tangible personal property).
Suggested Wording, unrestricted gift:
“I devise and bequeath to Clarkson University, Potsdam, New York, federal ID #15-0543659, (insert sum, percentage, or description of property), which shall be used for such University purposes as the Board of Trustees may determine.”
Suggested Wording, restricted gift:
“I devise and bequeath to Clarkson University, Potsdam, New York, federal ID #15-0543659, (insert sum, percentage, or description of property), which shall be used for (specify purpose).”
Suggested Wording, memorial fund:
“I devise and bequeath to Clarkson University, Potsdam, New York, federal ID #15-0543659, (insert sum, percentage, or description of property), which shall be used to create ‘The ____________ Memorial Fund,’ (or “The ____________ Endowed Scholarship Fund”), the income therefrom to be used for its general purposes, (or describe the specific purposes).”
Clarkson receives a share or the entire remainder of the donor's estate after providing for specific legacies, debts, taxes, and estate expenses (usually after providing for family).
“I devise and bequeath to Clarkson University, Potsdam, New York, federal ID #15-0543659, the rest and residue of my estate to be used in the discretion of the trustees for the general purposes (or describe the specific purposes) of the University.”
Clarkson receives a share of the estate if, for example, other beneficiaries do not survive the donor.
Since wording is unique to each individual circumstance, you should consult your legal counsel regarding your particular situation.
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This web page does not provide legal or financial advice, nor is it a comprehensive review of the topic. You should consult your legal and financial advisors and Clarkson University before making or planning your gift. (rev. 2/2016)
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Sample Bequest Language
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