Sample Bequest Language

Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures. Your gift may be a specific dollar amount, a percentage of your estate, or the remainder after all other provisions have been fulfilled. Gifts may be unrestricted or restricted to a specific purpose which you designate.

An unrestricted gift is a gift that can be used where need is greatest. “I hereby give, devise, and bequeath _________ and no/100 dollars ($DOLLARS) (or ____% of my estate) to Oakland University, a public university of the State of Michigan, its successors or assigns, a charitable 501(c)(3) organization located in Rochester, Michigan, to be used for its general purposes.”

A restricted gift for a specific purpose is a gift that is to be used only for a purpose you designate. “I hereby give, devise, and bequeath _________ and no/100 dollars ($DOLLARS) (or ____% of my estate) to Oakland University, a public university of the State of Michigan, its successors or assigns, a charitable 501(c)(3) organization located in Rochester, Michigan, to be used for (state purpose).”

A residuary bequest leaves any remainder after all other bequests have been paid. “I hereby give, devise, and bequeath to Oakland University, a public university of the State of Michigan, its successors or assigns, a charitable 501(c)(3) organization located in Rochester, Michigan, (ALL OR A PERCENTAGE) of the rest, residue, and remainder of my estate to be used for (Oakland University's general use and purpose OR state purpose).”

A contingency gift takes effect only if a primary intention cannot be met. “If (primary beneficiary) does not survive me, then I hereby give, devise, and bequeath to Oakland University, a public university of the State of Michigan, its successors or assigns, a charitable 501(c)(3) organization located in Rochester, Michigan, (DESCRIPTION OF PROPERTY) to be used for Oakland University's general use and purpose.”

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Oakland University flexibility should it no longer be possible for Oakland University to use your gift as you originally intended:

“If, in the judgment of the Board of Trustees of Oakland University, it shall become impossible for Oakland University to use this bequest to accomplish the specific purposes of this bequest, Oakland University may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.”

For more information contact us at giftplan@oakland.edu or by calling the Office of Planned Giving at (248) 370-3698.

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