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Sample Bequest Language

The appropriate wording for making a gift depends upon the type of gift, state law and your own unique circumstances. The following will and trust provisions are examples of how you may designate your gift. Consult an attorney to be sure you have a properly drafted legal document.

PERCENTAGE BEQUEST (Recommended):

I direct that The University of Nevada, Las Vegas Foundation, a charitable organization (tax ID 94-2790134) located at 4505 S. Maryland Parkway/Box 451006, Las Vegas, NV 89154-1006 , shall receive (indicate specific percentage) percent of my estate, free from and undiminished on account of any debts, expenses of administration, or death taxes.  This bequest is unrestricted and the Board of Trustees, or other governing body may use and expend the same for the benefit of the University of Nevada, Las Vegas in any manner it deems appropriate.

SPECIFIC BEQUEST:

I give and bequeath to The University of Nevada, Las Vegas Foundation, a charitable organization (tax ID 94-2790134) located at4505 S. Maryland Parkway/Box 451006, Las Vegas, NV 89154-1006 , the sum of (indicate specific amount). This bequest is unrestricted and the Board of Trustees, or other governing body may use and expend the same for the benefit of the University of Nevada, Las Vegas, in any manner it deems appropriate

REMAINDER BEQUEST:

I direct that The University of Nevada, Las Vegas Foundation, a charitable organization (tax ID 94-2790134) located at 4505 S. Maryland Parkway/Box 451006, Las Vegas, NV 89154-1006 , shall receive (indicate specific percentage) percent of my net residuary estate, after the payment of all my debts and expenses of administration (other than death taxes).  This bequest is unrestricted and the Board of Trustees, or other governing body may use and expend the same for the benefit of the University of Nevada, las Vegas in any manner it deems appropriate.

RESTRICTED BEQUEST:

Should you wish to restrict a bequest for a specific purpose, please contact the Planned Giving office at the UNLV Foundation, so we may create the wording necessary to accomplish your intentions.

We also suggest you and your attorney or financial consultant contact the Planned Giving office at the UNLV Foundation at 702-895-2841 or bud.beekman@unlv.edu to create a Memorandum of Understanding (MOU) to ensure your wishes are both known and followed, when your gift matures.

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A charitable bequest is one or two sentences in your will or living trust that leave to the UNLV Foundation 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 to the UNLV Foundation, a nonprofit corporation currently located at 4505 S. Maryland Parkway/Box 451006, Las Vegas, NV 89154-1006 , or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 UNLV 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 gift 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 receive an immediate federal income tax charitable deduction. 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 UNLV as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 UNLV 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 UNLV where you agree to make a gift to UNLV 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.

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