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University of New Hampshire's Bequest Language

WHAT IS A CHARITABLE BEQUEST?

A charitable bequest is a gift to the University of New Hampshire Foundation that is made through your will or living trust. While you are alive, you retain complete control of your bequest assets. When your estate is settled, your estate will receive a federal estate tax deduction at that time that is equal to the value of your gift, which may save estate taxes. One of the great appeals of the charitable bequest is that it is very flexible.

Ways you can define the amount of your bequest

  • A gift of a particular amount of money (e.g., $250,000).
  • A gift of a specific item or items (e.g.1,000 shares of ABC Corporation).
  • A gift that will be made from the remainder of your estate once all other bequests, debts, and taxes have been paid (e.g., you give 25% of the rest, residue, and remainder of your estate). Often called a "residuary bequest," this approach assures that your family will be taken care of before your estate makes a bequest to UNH.


Sample bequest language
It is very important that your bequest be accurately and clearly described so that we can carry out your wishes as you intended. We encourage you to consult with us regarding the terms of your bequest to make sure that we will be able to carry out your intentions. Here is sample language for a bequest of a specific amount to guide you and your attorney:

"I give to the University of New Hampshire Foundation Inc. of Durham, NH, the sum of _____________ dollars ($______________) for (name of fund, college, department, program) as established by a separate Memorandum of Understanding with the University of New Hampshire."

BEQUEST ALTERNATIVES:

In addition to adding bequest language to your will or living trust, here are a few other simple ways for you to make a gift to us after you are gone:
  • Make the University of New Hampshire Foundation a designated beneficiary of a retirement plan.
  • Instruct your bank to "pay on death" to the University of New Hampshire Foundation some or all of a specific bank account.
  • Instruct your brokerage firm to "transfer on death" to the University of New Hampshire Foundation some or all of a specific brokerage account.

UNH Foundation tax identification number is 02-0437506

BENEFITS INCLUDE:

  • Your estate will qualify for a federal estate tax deduction when it fulfills your bequest. Your estate may save estate taxes as a result, depending on the size of your estate and estate tax rules at the time your estate is settled.
  • You will keep control over your bequest assets should you need them during your lifetime.
  • You will retain the flexibility to modify your gift anytime, should your circumstances or desires change.
  • You will become a member of our Benjamin Thompson Society.
  • You will make a gift to UNH that may be larger than any gift you could make during your lifetime.
  • You can determine how the funds will be used upon realization of the gift.
    • If you (a) are 60 or over at the time you notify UNH of your intention; (b) agree in writing to let UNH know if you make any plans in the future that will affect your intention; and (c) provide an estimate as to the value of the gift, your gift will be counted in your giving totals and for campaign purposes at the full face value of your gift intention (i.e., the value of the asset as credibly estimated by you).

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Already included UNH in your estate plan? Please let us know.