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Bequest Language

Gifts made through a will or trust to benefit the Schools of the University of Maryland Baltimore are one of our most important sources of support. Such gifts require no current cash outlay, provide planning flexibility, and give you the satisfaction of knowing that you are making a gift to support your School that will be part of your philanthropic legacy.
 
Bequests can help to build endowment, support faculty, advance research, provide much-needed scholarships, or almost any purpose.  Alternatively, they can be completely unrestricted and be used by the School to support critical needs of any type.
 
If you already have a will or trust, you can make a gift benefit your school by means of a simple codicil. You can do the same with your trust by making a simple amendment. The cost of making such a change should be much less than rewriting the entire document. You can use any of the example language below to make the School a beneficiary of your will, trust, codicil, or amendment.
 
Please note that all bequests and beneficiary designations should be made payable to the University of Maryland Baltimore Foundation, Inc. for the benefit of the school you wish to support.
 
Bequests can take many forms. Your unique circumstances will dictate the type of provision in your will or trust for making your gift. The following suggested provisions should be reviewed by you with your legal counsel and are not intended to substitute for legal advice. We hope the following examples will be helpful to you and your attorney.
 
Unrestricted General Legacy, Specific Amount
 
The following language can be used to make an unrestricted gift to any of our Schools. The School will use the gift for its most pressing needs.
 
I bequeath to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) the sum of ___________________________ Dollars ($_______________) for its general purposes.
 
Unrestricted Endowment Legacy, Specific Amount
 
The following language can be used to make a gift to the School that will last in perpetuity. The School will receive income from your gift each year as the principal grows.
 
 I bequeath to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) the sum of ___________________________ Dollars ($_______________) to be added to its endowment.
 
Gift for a Specific Purpose
 
The language below can be used to designate your gift to achieve a specific purpose. Please contact the professional staff of the Development Office of your School for additional assistance.
 
I bequeath to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) the sum of ___________________________ Dollars ($_______________) to be used for [insert purpose: scholarship, faculty enhancement, research etc.]
 
 
Gift to establish a Named Endowment Fund
 
You can make a gift to the School that will carry your name or the name of a loved one in perpetuity through the following language:
 
I bequeath to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) the sum of ___________________________ Dollars ($_______________) to be added to the ___________________________ (Insert name of donor) endowment.
 
Note: The minimum amount necessary to endow a named fund is $50,000. We strongly urge that all donors seeking to establish a named endowment fund enter into a Memorandum of Understanding (MOU) that will describe how your gift is to be used. The School and the Foundation will prepare the MOU on your behalf.
 
Gift of Specific Property
 
To give the School specific property like jewelry, art, collections etc., the following language can be used:
 
I bequeath my [art][jewelry] collection consisting of [describe objects] to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name)  to be used or liquidated in the discretion of the Dean of the School.
 
Please note: gifts of property should be discussed with the Development Office of the School to ensure that your wishes can be carried out by the School.

 
 
Gift of Residuary Estate
 
Your residuary estate is the amount of your estate that remains after all other specific bequests and expenses have been paid by your executor. The following language can be used:
 
I devise and bequeath my residuary estate to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) ….
 
As with the above examples, such gifts may be unrestricted, restricted, or used to create a named fund.
 
You may also designate a percentage of your residuary estate:
 
I devise and bequeath ______ percent of my residuary estate to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name)….
 
Contingent Gift of Residuary Estate
 
A contingent bequest is a gift that is not satisfied until the happening of some event. For example, you may wish to leave your estate to the School in the event that you are not survived by a spouse or partner. The following language can be used.
 
I devise and bequeath my residuary estate to my [spouse/partner], if he/she survives me.  If [he/she] does not survive me, I give my residuary estate to the University of Maryland Baltimore Foundation, Inc. for the benefit of the University of Maryland School of (insert School name) for its general purposes [or provide a specific purpose such as scholarship, professorships, etc.].
 
Provision for a Life Income Gift
 
Life income arrangements can be established in your will or trust. For example, you can direct your executor or trustee to establish a charitable annuity or a charitable trust to benefit one or more of your survivors. The Office of Planned Giving of the University of Maryland is available to discuss such a provision with you and your advisors.
 
 

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