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Bequest Language

The following sample bequest provisions will assist you and your attorney in drafting the language for your will or trust.

"I give...
_______________% of my estate, OR
the sum of $_______________, OR
the real property described on the deed as _______________, OR
personal property described as _______________, OR
all the rest, residue and remainder of my estate, OR
_______________% of the rest, residue and remainder of my estate 
to THE BOARD OF TRUSTEES OF BELOIT COLLEGE. The College shall hold, manage and distribute the funds in accordance with the Gift Use Agreement* entered into between me and the College.
*Optional language: "If no such agreement exists at the time of my death, then...
the funds shall be unrestricted and held and managed as a part of the permanent endowment of the College. OR
the funds shall be used for the highest and best purposes of the College."

*A Gift Use Agreement ("GUA") is a short agreement between the donors and the college, which includes background information provided by the donors and specifics on how the gift will be used. The donors may amend it as often as they like without the necessity of amending their wills.If your estate includes payment from IRD assets (Income in Respect of a Decedent - such as IRAs, qualified retirement plan assets, savings bonds and installment contracts), consult your attorney for language to best accomplish your goals.If you are planning to make Beloit College one of your beneficiaries, we encourage you to tell us now. That way, you can assure that your gift intentions are well understood and you can obtain the greatest possible satisfaction from your gift.Beloit College Tax ID # 39-0808497

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Beloit College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give... _______________% of my estate, OR the sum of $_______________, OR the real property described on the deed as _______________, OR personal property described as _______________, OR all the rest, residue and remainder of my estate, OR _______________% of the rest, residue and remainder of my estate to THE BOARD OF TRUSTEES OF BELOIT COLLEGE. The College shall hold, manage and distribute the funds in accordance with the Gift Use Agreement* entered into between me and the College.

*Optional language: "If no such agreement exists at the time of my death, then… the funds shall be unrestricted and held and managed as a part of the permanent endowment of the College. OR the funds shall be used for the highest and best purposes of the College."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Beloit or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Beloit as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Beloit as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Beloit where you agree to make a gift to Beloit and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.