Sample Gift Language for your Will or TrustA gift to Drexel in your will or revocable trust proclaims your confidence that we will continue to serve our mission and make a difference in the lives of future generations. A bequest:
Residual Gift LanguageA residual bequest comes to us after your estate expenses and specific bequests are paid: I give and devise to Drexel University (Tax ID #23-1352630)/Drexel University College of Medicine (Tax ID #23-2979433), located in Philadelphia, PA, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program). Specific Gift LanguageNaming Drexel University as a beneficiary of a specific amount from your estate is easy: I give and devise to Drexel University (Tax ID #23-1352630)/Drexel University College of Medicine (Tax ID #23-2979433), located in Philadelphia, PA, the sum of $___________ to be used for its general support (or for the support of a specific fund or program). Contingent Gift LanguageDrexel University or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled: If (insert name) is not living at the time of my demise, I give and devise to Drexel University (Tax ID #23-1352630)/Drexel University College of Medicine (Tax ID #23-2979433), located in Philadelphia, PA, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program). Retirement Plan Beneficiary LanguageYou may name Drexel University (Tax ID #23-1352630)/Drexel University College of Medicine (Tax ID #23-2979433) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts. Naming Drexel as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Drexel as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Drexel free of both estate and income taxes. Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify Drexel University. We can also assist you with the proper language for your beneficiary designation to Drexel. Customized LanguageIf you or your attorney would like Drexel to provide you with customized beneficiary language that is specific to your goal and interest, please contact us. The following includes several examples of suggested bequest wording to benefit Drexel University College of Medicine. 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 Drexel University College of Medicine to ensure that your wishes will be properly followed and recognized. Percentage of estate for unrestricted purposesI give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Directors of Drexel Medicine for the general purposes of Drexel Medicine, located in Philadelphia, Pennsylvania. Percentage of estate for specific purposes with an endowment provisionI give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, _____ 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 Drexel Medicine's permanent endowment and in accordance with its policies. The income therefrom is to be used by Drexel Medicine, located in Philadelphia, Pennsylvania, 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 Drexel Medicine Board of Directors 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 purposesI give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used at the discretion of the Board of Directors of Drexel Medicine for the general purposes of Drexel Medicine and its related entities. Specific amount for specific purposesI give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at Drexel Medicine. 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 Drexel Medicine Board of Directors may redesignate the purpose to adhere as closely as possible to my original intent. To assist you with your plans, Drexel Medicine 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:
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 Directors of Drexel Medicine determines that the need exists. Should the need no longer exist, said Board of Directors may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above." 
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Sample Gift Language for your Will or Trust
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