UNIVERSITY OF MINNESOTA FOUNDATION

Gifts from a will or trust

Bequests

A bequest is one of the most meaningful ways to make a gift to the University of Minnesota. Gifts of any size made through a bequest help ensure that the University receives valuable support in the future. Donors can make a bequest by simply including a provision for the University in their wills or trusts. And they can choose to give the University a specific dollar amount, specific property, or a percentage of their estates.

Bequests for the University:

  • Allow donors to make a generous gift while maintaining control of assets during their lifetimes.
  • Can be designated for a specific college, campus, or program.
  • Can be changed by the donor at any time.
  • Will not be subject to estate tax.

Bequest language

To include a bequest for the University of Minnesota in a will or trust, donors may wish to use the following sample language:

“I give [the sum, percentage, or description of property] to the University of Minnesota Foundation, Minneapolis, Minnesota, to be used [for the benefit of the college, campus, or program] or [according to my written instructions* on file with the foundation].”

The foundation’s planned giving staff can work with donors and their attorneys to customize this bequest language to ensure that it accurately reflects their wishes and that the University will be able to use their gifts as intended.

*Written instructions

As with any gift to the University, donors may choose to direct their bequest to a specific campus, college, program, or fund. The University of Minnesota Foundation uses a Statement of future gift form to document donors’ wishes for the use of their gifts and their preferences for recognition. 

Testamentary charitable remainder trust

Some donors may consider establishing a testamentary charitable remainder trust with a retirement account or other assets. The trust would begin at the donor's death and can provide income for family members or others for life or a term of years. The assets remaining in the trust then pass to the charities the donor has designated.

Disclaimer

Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your own professional advisor.