Bequest Language

Gift and Estate Planning

The Texas State University Development Foundation supports and furthers the mission of Texas State University through the acceptance and investment of gifts established as endowments benefiting the students, faculty and staff. Established as a not-for-profit 501(c)(3) in 1977, the Foundation is committed to appropriately accepting, stewarding and maintaining investments of private donors with loyalty and integrity. The long-term objective of the Foundation is to earn a return sufficient to preserve the purchasing power of the Foundation for generations to come, as well as providing for current scholarship needs.

An excellent way for you to support Texas State University's mission is to leave us a gift in your will, living trust or with a codicil. One significant benefit of making a gift in your will 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.

Types of Bequests

There are a number of ways you can make a gift in your will to Texas State University Development Foundation.

Specific Gift

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 Texas State University Development Foundation.

Percentage Gift

 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 Texas State University Development Foundation.

Residual Gift

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 Texas State University Development Foundation.

Contingent Gift

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 Texas State University Development Foundation.

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.

Will Language

In order to make a gift in your will, you should speak with your attorney. Your attorney can help you include a bequest to Texas State University Development Foundation in your estate plan. We have provided some basic Will language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to Texas State University Development Foundation, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, for Texas State University Development Foundation's general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, for Texas State University Development Foundation's general use and purpose.

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 Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, for Texas State University Development Foundation's general use and purpose.

2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Texas State University Development Foundation, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, for Texas State University Development Foundation's general use and purpose.

3. Residual Bequest

I hereby give, devise and bequeath to Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Texas State University Development Foundation's general use and purpose.

4. Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Texas State University Development Foundation, a nonprofit organization located at J.C. Kellam 960, San Marcos, TX, 78666, Federal Tax ID #74-1982979, DESCRIPTION OF PROPERTY to be used for Texas State University Development Foundation's general use and purpose.

Restricted Bequests

If you are considering a gift in your Will 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 gift in your Will, we recommend that your attorney include the following provision to give Texas State University Development Foundation flexibility should it no longer be possible for Texas State University Development Foundation to use your gift as you originally intended:

If, in the judgment of the Board of Directors of Texas State University Development Foundation, it shall become impossible for Texas State University Development Foundation to use this bequest to accomplish the specific purposes of this bequest, Texas State University Development Foundation 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 Texas State University Development Foundation 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 Texas State University Development Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.