Bequest language
Outright Bequest—Sum of Money
“I give and bequeath to University of Northwestern and Northwestern Media, for the benefit of KNWC, Sioux Falls, South Dakota, a nonprofit corporation, Federal Tax ID #41-0711610, the sum of $________________________, to be used for the following purpose:
Outright Bequest—Specific Property
“I give, devise, and bequeath to University of Northwestern and Northwestern Media, for the benefit of KNWC, Sioux Falls, South Dakota, a nonprofit corporation, Federal Tax ID #41-0711610, the following property: (enter specific description of property), to be used for the following purpose:
Bequest of Residuary Estate
“I give, devise, and bequeath to University of Northwestern and Northwestern Media, for the benefit of KNWC, Sioux Falls, South Dakota, a non-profit corporation, Federal Tax ID #41-0711610, all the rest, residue, and remainder of my estate, of whatever kind and wherever situated, which I may own or have the right to dispose of at the time of my death, to be used for the following purpose:
Bequest Percentage of Residuary Estate
“I give, devise, and bequeath to University of Northwestern and Northwestern Media, for the benefit of KNWC, Sioux Falls, South Dakota, a non-profit corporation, Federal Tax ID #41-0711610, __________ percent (___%) of the rest, residue, and remainder of my estate, of whatever kind and wherever situated, which I may own or have the right to dispose of at the time of my death, to be used for the following purpose:
Contingent Bequest
“In the event that any bequest or devise of any portion of my estate shall lapse or fail for any reason, I give, devise, and bequeath that portion to University of Northwestern and Northwestern Media, for the benefit of KNWC, Sioux Falls, South Dakota, a non-profit corporation, Federal Tax ID #41-0711610, to be used for the following purpose:
Adding a Measure of Flexibility
No one can anticipate the changes and developments that may occur in the specific mission of University of Northwestern, Northwestern Media, and KNWC in the coming years. When drafting a bequest, especially one having a restricted purpose, it is helpful to add a “saving clause.” This helps to ensure that the Foundation may always apply the funds or property in a manner that will most closely meet the donor’s original intention. Such a clause might read as follows:
“If, at any time, the Board of Trustees of University of Northwestern and Northwestern Media, acting in their sole discretion, determines that the stated use or purpose of this bequest shall no longer be necessary, advisable, feasible or desirable to carry out the mission of University of Northwestern, Northwestern Media, KNWC, and its supported organizations, the Board of Trustees shall have the authority to designate the fund created by this bequest for that purpose that they, in their sole discretion, determine to most closely carry out my original intention.”