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Suggested Bequest Language
Naming Arkansas State University as a beneficiary in your estate plan is a simple and lasting way to acknowledge the University's role in your life.
A bequest to Arkansas State can be included in the body of your will or in an addition to it (a codicil). To name Arkansas State as a beneficiary, please use this language: "Arkansas State University at Jonesboro, Arkansas." You may designate your bequest for a specific purpose. Testamentary gifts to Arkansas State are typically deductible for estate-tax purposes and may be made in the following ways:
- Residuary Bequest You may state that all or a portion of your estate be given to Arkansas State after specific amounts are distributed to other beneficiaries.
- Specific Bequest You may stipulate that a certain percentage of your estate, or a certain dollar amount, or particular securities or other assets be given to Arkansas State.
- Testamentary Charitable Trust You may establish a unitrust or annuity trust for specific beneficiaries through your will. The trust principal is transferred to Arkansas State only after the death of the last trust beneficiary.
Sample Bequest Language
The provisions in your will for making a gift to Arkansas State will depend upon the type of gift and your own circumstances. The following are types of sample language that you and your attorney might find helpful when making a provision for Arkansas State.
The Unrestricted Gift
"I give to Arkansas State University, Jonesboro, Arkansas, the sum of $_________ (or _____ percent of my estate; or the property described herein) for its general purposes."
The Restricted Gift
"I give to Arkansas State University, Jonesboro, Arkansas, the sum of $_________ (or _____ percent of my estate; or the property described herein) for the use and benefit of the (insert preferred designation here). If at some future time the gift cannot be strictly used as set forth above, it is understood that the officers of the University may direct that the gift be used to meet the highest priorities of the university."
The Unrestricted Endowment (minimum gift of $25,000)
I give to Arkansas State University, Jonesboro, Arkansas, the sum of $_________ (or _____ percent of my estate; or the property described herein) to be used to endow the _____________________ Unrestricted Endowed Fund. Income from said fund, as determined by applicable University policy, shall provide support for the highest priorities of the university.
The Restricted Endowment (minimum gift of $25,000)
I give to Arkansas State University, Jonesboro, Arkansas, the sum of $_________ (or _____ percent of my estate; or the property described herein) to be used to endow The (insert preferred designation here) Endowed Fund. Income from said fund, as determined by applicable University policy, shall provide (scholarships, faculty positions, faculty support, program support, etc.). If at some future time when the endowment cannot be strictly used as set forth above, it is understood that the officers of the University may direct that only the annual withdrawals from the fund be used to meet the highest priorities of the university.
Residuary
"All the rest, residue, and remainder of my estate, both real and personal, I give to Arkansas State University, Jonesboro, Arkansas, for its general purposes (or describe the specific purpose, if desired)."
Contingency Gift
"I devise and bequeath the residue of the property owned by me at my death, real and personal, and wherever situate, to my husband (or wife), ______________, if he (or she) survives me. If my husband (or wife) does not survive me, I devise and bequeath my residuary estate to Arkansas State University, Jonesboro, Arkansas, for its general purposes (or describe the specific purpose, if desired)."