BEQUESTS [SAMPLE LANGUAGE]

You can name William & Mary as a beneficiary of your will, revocable living trust, retirement plan, or other testamentary plan. The following are examples of suggested language for use in making an unrestricted bequest. If you prefer to designate your bequest for a specific purpose or to one of the College’s affiliated foundations, we would be pleased to provide specific language for you to share with your attorney. We encourage you to contact the Gift Planning Office when making any provision in your estate plans to ensure that your bequest can be used in the way that you intend it.

TYPES OF BEQUESTS

• Specific Bequest – William & Mary receives a specified amount.

  Example: "I give, devise, and bequeath $___________ to the William & Mary Foundation, a charitable corporation, for the general support of William & Mary."

• Residuary Bequest – William & Mary receives all or a percentage of the remainder of your estate after any other specific bequests or estate expenses have been paid.

  Example: "I give, devise, and bequeath all of the rest, remainder, and residue (or ____ percent) of my estate to the William & Mary Foundation, a charitable corporation for the general support of William & Mary."

• Contingent Bequest – William & Mary receives a bequest only if other beneficiaries predecease you or your estate exceeds a certain value.

  Example: "If __________ predeceases me, I give, devise, and bequeath ____________ to the William & Mary Foundation, a charitable corporation, for the general support of William & Mary."

• Testamentary Trust – You can establish a trust through your will to provide income to your spouse or other heirs, with the assets eventually passing to William & Mary. We will be pleased to provide appropriate beneficiary language.

Retirement Plan – Assets held in a qualified retirement plan can be one of the most effective ways to support William & Mary. Unlike most other assets, retirement plans can be subject to both income and estate taxes when left to someone other than a spouse or charitable organization. Combined taxes can leave only a fraction of the remaining assets for the benefit of your children and other heirs. You can designate William & Mary as a beneficiary of your IRA, Keough, tax-sheltered annuity, or other qualified plan. We will be pleased to provide the appropriate legal name for the Change of Beneficiary form available from your retirement plan administrator.

Some Inspiring Examples
Read about the many ways alumni and friends are remembering the College in their estate plans