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Boston University's Bequest Language

An excellent way for you to support Boston University's mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
 

Types of Bequests


There are a number of ways you can make a bequest to Boston University.
 
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Boston University.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Boston University.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Boston University.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Boston University.
 

Bequest Benefits

 
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
 

Bequest Language


In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Boston University in your estate plan. We have provided some sample bequest language to assist you and your attorney.

1. Specific Bequest
If you are considering making an outright bequest to Boston University, we recommend the following language:
 
Bequest of a Specific Dollar Amount, Specific Property or Personal Property
"I give and devise (____________________), without reduction for any tax occasioned by my death, to Trustees of Boston University, a Massachusetts non-profit corporation having a principal place of business in Boston, Massachusetts, to be used or disposed of as the University (or School/College) in its sole discretion deems appropriate."

Bequest of Specific Real Estate
"I give and devise all of my right, title, and interest in and to the real estate located at (give address or otherwise describe property) to Trustees of Boston University, a Massachusetts non-profitcorporation having a principal place of business in Boston, Massachusetts, to be used or disposed of as the University (or School/College) in its sole discretion deems appropriate."
 
2. Percentage or Residual Bequest
If you are considering making a bequest of a percentage or the remainder of your estate to Boston University, we recommend the following language:
 
"I devise and bequeath [(all) OR ( percent)] of the remainder of my property, without reduction for any tax occasioned by my death, to Trustees of Boston University, a Massachusetts non-profit corporation having a principal place of business in Boston, Massachusetts, to be used or disposed of as the University(or School/College) in its sole discretion deems appropriate."
 
4. Contingent Bequest
If you are considering making a bequest to Boston University only if the purpose of the primary bequest cannot be met we recommend the following language:
 
"If [my spouse] does not survive me, I give the sum of $__________, without reduction for any tax occasioned by my death to Trustees of Boston University, a Massachusetts non-profit corporation having a principal place of business in Boston, Massachusetts, to be used or disposed of as the University(or School/College) in its sole discretion deems appropriate."
 
Download our Sample Bequest Language
 

Restricted Bequests


If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Boston University flexibility should it no longer be possible for our Boston University to use your gift as you originally intended:
 
If, in the judgment of the Trustees of Boston University, it shall become impossible for Boston University to use this bequest to accomplish the specific purposes of this bequest, then the Trustees of Boston University, or their designees, may designate this bequest to be used for such purpose or purposes most closely related to the restricted purpose of my bequest.
 

Contact Us


Please contact us if you have any questions about how to make a bequest to Boston University or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

If you have included a bequest for Boston University in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
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This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice.
For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.