Gift and Estate Planning
Sample Bequest Language
A gift to Humboldt State University Advancement Foundation (HSUAF) through your will or living trust allows you to make a meaningful contribution to the next generation of Humboldt State students yet costs you nothing to make today.
A charitable bequest:
- Is easy to arrange
- Will not alter your current lifestyle in any way
- Can be easily modified to address your changing needs
General Bequest Language
Since your charitable bequest may not come to HSU for many years, general bequests are the most valuable as they allow HSU to apply your funds wherever the need is greatest at the time:
I give to Humboldt State University Advancement Foundation (HSUAF), a charitable foundation supporting the mission of Humboldt State University (HSU), located in Arcata, CA, ______(a percentage of the estate, specific dollar amount, remainder of estate after all other bequests & expenses, etc.)_________ to be used for its general support and charitable purposes without restriction.
Restricted Bequest Language
Many HSU friends like to direct their giving to specific needs, such as scholarships, or to support an academic department or distinct program, such as KHSU or another HSU affiliate. Restricted bequests are welcomed, though it is important that they have some flexibility, too, as needs and programs can change over time:
I give to Humboldt State University Advancement Foundation (HSUAF), a charitable foundation supporting the mission of Humboldt State University (HSU), located in Arcata, CA, ______(a percentage of the estate, specific dollar amount, remainder of estate after all other bequests & expenses, etc.)_________ to be used for ____(describe how your gift is to be used, such as for scholarships, to support an academic department or HSU program, etc.)________. If at any time, it becomes impossible or impractical for my gift to be used for the above charitable purpose, HSUAF shall use my gift for a purpose and in a manner that most closely meets the above charitable purpose.
Contingent Bequest Language
Sometimes situations change after a will is drafted—the people and charities named in our will may not be there in the future. In such cases, naming Humboldt State University Advancement Foundation as a contingent beneficiary can be a great alternative:
If ___(insert name)___ is not living at the time of my demise (or if ___Name of Charity___ is no longer in existence), I give ______(a percentage of the estate, specific dollar amount, remainder of estate after all other bequests & expenses, etc.)_________ to Humboldt State University Advancement Foundation (HSUAF), a charitable foundation supporting the mission of Humboldt State University (HSU), located in Arcata, CA, to be used for its general support and charitable purposes without restriction (or you may used the restricted bequest language above to define a specific purpose for your charitable bequest).
Bequest Language to Establish a Named Endowment Fund
A named endowment allows you to establish a permanent fund that will endure for generations. Your donated funds are professionally invested with the HSU Advancement Foundation for long-term growth as well as annual income. Only the income from the fund, as defined by the Foundation’s policies, is used each year to provide scholarships or other annual support to an academic department or affiliated program. Since the corpus of the fund remains invested, your name, values, and thoughtful gift will continue to touch lives far into the future.
I give to Humboldt State University Advancement Foundation (HSUAF), a charitable foundation supporting the mission of Humboldt State University (HSU), located in Arcata, CA, ______(a percentage of the estate, specific dollar amount, remainder of estate after all other bequests & expenses, etc.)_________ to be used to establish a permanent endowment fund to be named _____(state the name you would like for the fund)_____, hereafter referred to as The Fund. The Fund shall be managed by HSUAF subject to its investment and spending policies, and the income from The Fund, as defined by those policies, shall be used for ____(describe how the annual income from your fund is to be used, such as for scholarships, to support an academic department or HSU program, etc.)________. If my gift is below the minimum level required to establish an endowment at HSUAF, or if, at any time, it becomes impossible or impractical for The Fund established by my gift to be used for the above charitable purpose, HSUAF shall use my gift or The Fund for a purpose and in a manner that most closely meets the above charitable purpose.
Beneficiary Designation on a Retirement Account
The easiest way to make a charitable bequest to benefit Humboldt State University is by simply naming Humboldt State University Advancement Foundation a beneficiary of your IRA, 401(k), 403(b), Keogh, profit-sharing pension plan, or other qualified retirement plan.
Name: Humboldt State University Advancement Foundation
Tax ID: 94-6077724
Since most retirement plan assets can have tax consequences when left to loved ones other than a spouse, naming HSUAF as a full or partial beneficiary of your retirement plan can offer significant tax savings. However, you should consult with your tax advisor to assess your specific plan and potential tax implications.
Benefits :
- Potential income and/or estate tax savings
- Ability to maintain complete control over plan assets during your life
- Easy to complete—just request a change of beneficiary form from your retirement plan administrator
- Good feelings that come with helping HSU and its students
Let Us Help
If you or your attorney would like HSU to provide you with customized beneficiary language that is specific to your goals and interests, please contact us. Also be sure to let us know about your gift intentions so that we can say ‘thank you’ now. Please down load our Planned Gift Notification Form. We promise to keep your intentions confidential and to honor your privacy.
