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Thank you for considering Oglethorpe University in your estate
planning. We encourage you to share the following suggested bequest
language with your attorney as you prepare or revise your will.
Unrestricted Bequest
"I give and bequeath to Oglethorpe University, Inc., in Atlanta,
Georgia, the sum of xxx dollars. This gift shall be used to further
the educational mission of Oglethorpe University in such a manner as
the Board of Trustees of the University may direct."
You might choose to replace "the sum of xxx dollars"
with one of the following:
"xx percent of my adjusted gross estate"
"all the rest, residue and remainder of my estate"
"xx percent of my residuary estate"
Bequest Restricted for Endowment
"I give and bequeath to Oglethorpe University, Inc., in Atlanta,
Georgia, the sum of xxx dollars to create an endowed fund to
be named xxx, which shall be invested as the Board of Trustees of
the University may deem best. Distributions from the endowed fund
shall be made each year in accordance with the spending policies of
the University and shall be used for scholarships (or faculty
compensation, or the study of the sciences, or another broad
priority) at Oglethorpe University. The fund, for purposes of
investment, may be combined with other funds of Oglethorpe
University, but the fund shall be separately accounted for."
If you are interested in endowing a chair, scholarship, or
other named fund, please contact David Brown (see below) for
criteria including gift minimums.
Again, you might choose to replace "the sum of xxx dollars"
with one of the following:
"xx percent of my adjusted gross estate"
"all the rest, residue and remainder of my estate"
"xx percent of my residuary estate"
Codicil to Last Will and Testament
If your estate planning documents are up to date, you can simply
draft a short codicil or amendment to the existing documents, using
this or similar language:
"I, Sharon Smith, hereby amend my Last Will and Testament,
executed on the 10th day of November in the year 2002. I direct that
all provisions of that Will remain in effect but in addition direct
that Oglethorpe University, Inc., in Atlanta, Georgia, shall receive
the sum of xxx dollars to be used to further the educational mission
of the University in such a manner as the Board of Trustees of the
University may direct."
Savings Clause
We recommend that restriction on gifts be stated in broad and
flexible terms, since the University's specific needs may change
over time. If your bequest is restricted for a particular purpose,
we ask that you incorporate a "savings clause," which might read as
follows:
"If at the time this bequest is received by Oglethorpe
University, Inc., or any time thereafter, the Board of Trustees of
the University determine that all or any part of the bequest can no
longer be utilized to best advantage for the institutional purpose
designated herein, then all or any part of the bequest may be used
for such other institutional purpose which, in the sole discretion
of the Board of Trustees, shall most closely carry out my
intention."
The director of planned giving at Oglethorpe University can
consult with you and your advisors about particular language for
wills or trusts. Please contact us at:
Contact Us
For more information and ideas, contact:
John Carr
Director of Major Gifts
404.364.8439
www.oglethorpe.edu (keyword:
PlannedGiving)
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