Bequests

 

pdficon_large.gif Printable Bequest Language

What Will Your Legacy Be?

Bequests, or gifts from estates, have helped shape Notre Dame as “one of the most powerful means for doing good” since Rev. Edward Sorin, C.S.C., declared he would establish a university from land gifted to Notre Dame. Campus landmarks ranging from the Coleman Morse Center to the Eck Hall of Law to the DeBartolo Performing Arts Center to the Guglielmino Family Athletics Center were all funded through bequests. So, too, were many of the scholarships and endowed professorships that are central to the education of our students’ minds and spirit.

Let us help you realize your Notre Dame legacy. Learn how to name Notre Dame as a beneficiary of your will, find out how retirement plans make the most highly tax-efficient bequest to charity, and be inspired by the stories of some of our bequest donors.
       
Understand the Ways to Give

You can make a bequest to Notre Dame for a percentage of your estate or a specific dollar amount. You can designate your bequest for general use or you can restrict its use. Many individuals establish endowments that honor the memory of a family member or another loved one. These endowments live forever since only the income is used annually.

Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.

Make Your Notre Dame Legacy

The following includes several examples of suggested bequest wording to benefit the University of Notre Dame.  Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision with the University of Notre Dame to ensure that your wishes will be properly followed and recognized.

Percentage of estate for unrestricted purposes
I give, devise, and bequeath to the University of Notre Dame, a not-for-profit organization located in Notre Dame, Indiana, _______ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Trustees of the University of Notre Dame for the general purposes of the University of Notre Dame, located in Notre Dame, Indiana.

Percentage of estate for specific purposes with an endowment provision
I give, devise, and bequeath to the University of Notre Dame, a not-for-profit organization located in Notre Dame, Indiana, _______ percent (%) of the rest, residue, and remainder of my estate to establish the ________________
__________________ ENDOWED FUND. The principal of this Fund shall be invested as part of the University of Notre Dame's permanent endowment and in accordance with its policies. The income therefrom is to be used by the University of Notre Dame, located in Notre Dame, Indiana, for _______________________________
_______________________________. Contributions may be added to the Fund at any time.

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the University of Notre Dame Board of Trustees may redesignate the purpose for which the Fund's income may be distributed, provided that the Fund shall continue to bear the name ________________ ENDOWED FUND, and that the amended terms shall adhere as closely as possible to my original intent.

Specific amount for unrestricted purposes
I give, devise, and bequeath to the University of Notre Dame, a not-for-profit organization located in Notre Dame, Indiana, the sum of $____________ in cash or in-kind (or ____________ shares of _____________ stock) to be used at the discretion of the Board of Trustees of the University of Notre Dame for the general purposes of the University of Notre Dame and its related entities.

Specific amount for specific purposes
I give, devise, and bequeath to the University of Notre Dame, a not-for-profit organization located in Notre Dame, Indiana, the sum of $____________ in cash or in-kind (or ____________ shares of _____________ stock) to be used for __________________________________________ at the University of Notre Dame. If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the University of Notre Dame Board of Trustees may redesignate the purpose to adhere as closely as possible to my original intent.

Note: To assist you with your plans, the University of Notre Dame can provide sample language for the program or area you wish to support. This confidential service is available to you without obligation.

Designating the purpose of a bequest:

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by the University of Notre Dame wherever the need is greatest.

Restricted: You may designate your bequest to support a special program or purpose that reflects your personal or professional interest (for example: scholarships, faculty research and development, or library acquisitions).

If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

"..... for so long as the Board of Trustees of the University of Notre Dame determines that the need exists. Should the need no longer exist, said Board of Trustees may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."

Donors are encouraged to call the Office of Gift Planning at (877) 631-8631 before writing a will that includes any type of restriction on a bequest.

Notre Dame’s “Thank You”

If you have already designated Notre Dame with a bequest, retirement plan or otherwise, please let us know so that we can welcome you as a member of the Badin Guild.



The information presented on these web pages is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain any gift you are considering fits well in your specific circumstances.

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