One of the easiest ways for you to impact the future of UCR is by leaving 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.
There are a number of ways you can make a bequest to UC Riverside:
In order to make a bequest, you should first speak with your attorney. Your attorney can help you include a bequest to UC Riverside in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to UC Riverside, we recommend the following language:
If you are considering making a bequest of a percentage of your estate to UC Riverside, we recommend the following language:
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 UC Riverside flexibility should it no longer be possible for UC Riverside to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to UC Riverside, 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 UC Riverside in your estate plan, please contact us to let us know! We would like to thank you and recognize you for your gift.
For more information about becoming a member of The 1907 Society, please contact Sandy Liarakos at [email protected] at (877) 249-0181 or (951) 827-5676.
Types of Bequests
There are a number of ways you can make a bequest to UC Riverside:
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 UC Riverside.
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 UC Riverside.
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 UC Riverside.
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 UC Riverside.
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 UC Riverside.
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 UC Riverside.
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 UC Riverside.
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 first speak with your attorney. Your attorney can help you include a bequest to UC Riverside in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to UC Riverside, we recommend the following language:
Bequest of a Specific Dollar Amount
"I hereby, give, devise, and bequeath (a) the sum of $________ or (b) ______% of my estate to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purpose."
Bequest of Specific Personal Property
"I hereby, give, devise, and bequeath [DESCRIPTION OF PROPERTY] to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purposes."
Bequest of Specific Real Estate
"I hereby give, devise, and bequeath all of the right, title and interest in and to the real estate located at [ADDRESS OR DESCRIPTION OF PROPERTY] to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purposes."
2. Percentage Bequest"I hereby, give, devise, and bequeath (a) the sum of $________ or (b) ______% of my estate to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purpose."
Bequest of Specific Personal Property
"I hereby, give, devise, and bequeath [DESCRIPTION OF PROPERTY] to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purposes."
Bequest of Specific Real Estate
"I hereby give, devise, and bequeath all of the right, title and interest in and to the real estate located at [ADDRESS OR DESCRIPTION OF PROPERTY] to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purposes."
If you are considering making a bequest of a percentage of your estate to UC Riverside, we recommend the following language:
"I hereby, give, devise, and bequeath ______% of my total estate, determined as of the date of my death, to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, for UC Riverside's general use and purpose."
3. Residual Bequest"I hereby, give, devise, and bequeath to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, [ALL OR A PERCENTAGE] of the rest, residue, and remainder of my estate to be used for UC Riverside's general use and purpose."
4. Contingent Bequest"If (primary beneficiary) does not survive me, then I hereby, give, devise, and bequeath to UC Riverside Foundation, a non-profit organization located at 900 University Ave, Riverside, CA 92521, Federal Tax ID: 23-7433570, [DESCRIPTION OF PROPERTY] to be used for UC Riverside's general use and purpose."
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 UC Riverside flexibility should it no longer be possible for UC Riverside to use your gift as you originally intended:
"If, in the judgment of the Board of Directors of UC Riverside Foundation, it shall become impossible for UC Riverside to use this bequest to accomplish the specific purposes of this bequest, UC Riverside 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."
Contact Us
Please contact us if you have any questions about how to make a bequest to UC Riverside, 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 UC Riverside in your estate plan, please contact us to let us know! We would like to thank you and recognize you for your gift.
For more information about becoming a member of The 1907 Society, please contact Sandy Liarakos at [email protected] at (877) 249-0181 or (951) 827-5676.
