Please note that gifts of this nature should be carefully considered in relation to your comprehensive financial and estate plans. We strongly recommend that you consult an attorney in the preparation of your will and to supervise its execution so as to comply with your state requirements. The following selected examples are for illustration only.
- When including a bequest provision in your will, always use the full legal name.
- Our full, legal name is: "Millikin University."
Bequests for Unrestricted Purposes
Unrestricted gifts are to be used for the greatest need at the time to be determined by Millikin's Board of Trustees.
- For a bequest of securities, the possible language is: "I give Millikin University all of my shares of XYZ stock [or mutual fund] to be used for the benefit of Millikin University."
- For a bequest of cash, the possible language is: "I give to Millikin University the sum of (Amount) to be used for the benefit of Millikin University."
If you do not want to specify the exact amount of the intended gift, perhaps because the size of the future estate is difficult to estimate, a proportional bequest is often the best way to accomplish your goals. In a proportional bequest, Millikin would receive a percentage of the estate or the residue of the estate, after all other provisions have been met.
- Possible language is: "I give to Millikin University (percent) of my estate [or the rest, residue and remainder of my estate] to be used for the benefit of Millikin University."
A contingent bequest takes effect only if the primary intention cannot be met (e.g., if the primary beneficiary does not survive the donor). This ensures that property will not be distributed to unintended beneficiaries.
- Possible language is: "If (name of primary beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to Millikin University all of the rest, residue, and remainder of my estate, to be used for the benefit of Millikin University."
Bequests for Restricted Purposes
If you would like to honor a family member or a special person, or to provide support for a specific program or department that was meaningful to you, then you can designate your bequest specifically for that purpose. You simply use any form of the possible language included above, and replace "to be used for the benefit of [ insert purpose or intent ]" with the specific designation. Often specific guidelines govern the use of these types of funds. Therefore, we recommend that you contact us to discuss your restricted gift. We are here to help you as you plan.
If You Already Have A Will
A codicil is a written change or amendment to a will. Click here for a printable copy of what a codicil would look like. Please remember to consult your attorney to make sure you are properly advised.
Thank you for remembering Millikin University.
Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are used with permission and are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of the privacy statement. The content in this Planned Giving section has been developed for Millikin University by Future Focus. Please report any problems to webmaster.