Sample Bequest Language
A bequest to Washington State University in your Will or Living Trust may ultimately include some of the following language. We recommend that you review your bequest with the WSU Foundation's Gift Planning Office to assure that your plans will be carried out as you wish.
I give:
________% of my estate,
OR
the sum of $________,
OR
the real property described on the deed as ________,
OR
personal property described as ________,
OR
all the rest, residue, and remainder of my estate,
OR
________% of the rest, residue, and remainder of my estate
to the Washington State University Foundation (PO Box 641925, Pullman, Washington 99164-1925, Federal Tax ID Number 91-1075542). The Foundation shall hold, manage and distribute the funds in accordance with the certain Gift Use Agreement* entered into between me and the WSU Foundation. [OPTIONAL LANGUAGE: If no such agreement exists at the time of my death, then the funds shall be held and managed as a part of the permanent endowment of the WSU Foundation.]
*The Gift Use Agreement mentioned above is a short agreement between the donors and the Foundation/University, which includes background information provided by the donors and specifics on how the distributions from the endowment will be used. The donors may amend as often as they like without the necessity of amending their wills.
If your estate includes payment from Income in Respect of a Decedent (IRD) assets, such as IRAs, qualified retirement plan assets, savings bonds and installment contracts, include the following langauage.
This bequest shall be paid out of IRD assets as that term is defined in the Internal Revenue Code to the fullest extent possible. If such IRD assets as valued for U.S. estate tax purposes are insufficient to pay this bequest, then it shall be paid to the extent necessary out of the general assets of my estate.
Beneficiary Designation
When naming Washington State University a
beneficiary of your retirement plan, IRA, life insurance
policy, charitable trust or charitable gift annuity, we
recommend including the following information on your
beneficiary designation form.
Washington State University Foundation
PO Box 641925, Pullman, Washington 99164-1925
Federal Tax ID Number 91-1075542
This information is not intended to be a source of legal advice, and should not be considered or relied upon as legal advice. The WSU Foundation does not engage in the marketing of services pertaining to individualized advice about estate distribution documents. You should not act or rely on any information in or referenced herein without seeking the advice of a qualified attorney. Furthermore, the information contained herein cannot be relied upon as professional advice adequate in scope and content to avoid the imposition of penalties under the Internal Revenue Code.