Sample Language for Will

The following are recommended clauses that may be used to make a gift to the University of Minnesota Foundation through your will or revocable/living trust.

1. Unrestricted gift:

"I give [the sum, percentage, or description of property] to the University of Minnesota Foundation, Minneapolis, Minnesota, to be used for its general tax exempt purposes but without other restrictions as to use."

2. Restricited gift:

"I give [the sum, percentage, or description of property] to the University of Minnesota Foundation, Minneapolis, Minnesota, to be used for the benefit of the [name of campus, college or program]."

If the gift is $25,000 or more, the donor can set up an endowed fund with a memorandum of agreement to define the terms of the gift. This means the gift is invested and a portion of the income is spent each year to support the U program that is designated. Some endowments have minimum levels to be certain the endowment can fulkly support the program for which it is created:

Minimum gift levels for endowments:

Chair $2,000,000
Professorship $1,000,000
Faculty Fellowship $500,000
Graduate Fellowship $25,000
Scholarship $25,000



Questions? Contact a planned giving specialist.

The information on this Web site is not intended as legal or tax advice, but as
accurate and authoritative general information on planned giving.
For legal advice, please consult an attorney.

 
 
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