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Bequests

Bequests, or naming UWSP as a beneficiary in your will or trust document is the most common form of planned giving. This is an opportunity to provide for others beyond the limits of one's lifetime. For many a bequest is a means of making a much larger gift than possible while you are still drawing an income from your investments. Such bequests are exempt from federal or state estate taxes. A properly planned bequest can even result in a larger estate passing on to your heirs.

Many donors make specific bequests of property, or allocate a percent or dollar amount from their estate in their wills. Another method would be to allocate "the residue" of your estate, or what is remaining after all other bequests or terms of your will have been met.

You can make a bequest to UWSP by inserting certain language in your will or trust document. State laws pertaining to wills and bequests vary widely, so please consult your attorney when including a bequest in your will.

SAMPLE BEQUEST LANGUAGE*

For an outright bequest in will

Specific dollar amount: "I bequeath the sum of $_______ to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate."

Specific property (personal property): "I bequeath (DESCRIPTION OF PROPERTY) to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate."

Specific property (real estate): "I devise all of my right, title and interest in and to the real estate located at (DESCRIPTION OF PROPERTY) to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate."

Share of, or entire residue of estate

"I give and bequeath (all/or _____%) of the remainder of my property to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate."

Conditional bequest in will: "If my husband/wife does not survive me, I bequeath the sum of $_______ to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, to be used or disposed of as its Board of Directors in its sole discretion deems appropriate."

If the gift to the University of Wisconsin - Stevens Point Foundation, Inc., is for a purpose other than the Foundation's unrestricted use, insert the restriction in place of the words "to be used or disposed of as its Board of Directors in its sole discretion deems appropriate." For example:

"I bequeath the sum of $_______to the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, for the following use and purpose: (DESCRIPTION OF PURPOSE)."

In the event of a gift a subject to a restriction, you may wish to add one of the following provisions:

"However, I impose no legal or equitable obligation in this regard."
or
"If in the judgment of the Board of Directors of the University of Wisconsin - Stevens Point Foundation, Inc., of Stevens Point, Wisconsin, it becomes impossible to accomplish the purposes of this gift, the income or principal may be used for such related purposes and in such manner as determined by its Board of Directors."

* Recommended by Foundation Corporate Counsel Bequest Language 6.01

For more information contact: Deb Anstett, Director of Annual Giving, UWSP Foundation, 1-800-858-5267