Olivet College
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Bequest Language

A charitable bequest is certainly the most popular and enduring planned gift. Bequests are a favorite with donors because they are a gift planning strategy that gives you the opportunity to leave a lasting legacy while retaining full use of your property during life. With a bequest, there is no disruption of your lifestyle and no immediate out-of-pocket expense.

Of course, you’ll want to be sure to consult your financial advisors when considering any planned gift.

The following is suggested language for various types of bequests:

RESTRICTED BEQUEST

            I give and devise to Olivet College, Olivet, Michigan, the sum of $__________ (or state percentage of identified assets available for distribution) to be held, administered, and used by the Board of Trustees for the support of Olivet College (in the area of greatest need, for the establishment of an endowment fund for the academic, athletic or co-curricular program of your choice, or to be used by a specific organization on campus.)

The earnings from the endowment will be disbursed at the discretion of the CFO and program leadership per the terms of the completed endowment agreement on record at Olivet College. This endowment shall be named the _______________________________.

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

RESIDUARY BEQUEST

            I give and devise to Olivet College, Olivet, Michigan, all (or state fraction) of the rest, residue, and remainder of my estate, both real and personal, to be held, administered, and used by the Board of Trustees for the support of Olivet College (in the area of greatest need, for the establishment of an endowment fund for the academic, athletic or co-curricular program of your choice, or to be used by a specific organization on campus.)

The earnings from the endowment will be disbursed at the discretion of the CFO and program leadership per the terms of the completed endowment agreement on record at Olivet College. This endowment shall be named the _______________________________.

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

CONTINGENT BEQUEST

If (insert name or names) does (do) not survive me, I give and devise to Olivet College, Olivet, Michigan, all the rest, residue, and remainder of my estate, both real and personal, to be held, administered, and used by the Board of Trustees for support of Olivet College (in the area of greatest need, for the establishment of an endowment fund for the academic, athletic or co-curricular program of your choice, or to be used by a specific organization on campus.)

The earnings from the endowment will be disbursed at the discretion of the CFO and program leadership per the terms of the completed endowment agreement on record at Olivet College. This endowment shall be named the _______________________________.

I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

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