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Bequest Language

Thank you for considering a bequest to Emory. Please share the following suggested language with your attorney as you prepare or revise your will.

Unrestricted Bequest
"I give and bequeath the rest, residue, and remainder of my estate (or a percentage of my estate, or a dollar amount) to Emory University, an educational institution in Atlanta, Georgia, for its general purposes."

Bequest for a School or Division
"I give and bequeath the rest, residue, and remainder of my estate (or a percentage of my estate, or a dollar amount) to (name of school or division) of Emory University, an educational institution in Atlanta, Georgia, for its general purposes (or for the library, for faculty support, for research in a stated field.)"

Bequest for an Endowment
"I give and bequeath the rest, residue, and remainder of my estate (or a percentage of my estate, or a dollar amount) to (name of school or division) of Emory University, an educational institution in Atlanta, Georgia, to establish an endowed fund (or the John Doe Fund, or similar wording), to be held as a permanent endowment, which shall be used for (library, scholarship, or research in a stated field). Such fund shall be held, invested, and applied in accordance with the endowment policies of the University as amended from time to time. However, if, at the time of my death, the realized amount is less than the minimum amount required to establish such an endowed fund, or in the event that such use shall, in the judgment of the President of Emory University, become unnecessary or impracticable then I direct that my gift shall be devoted to such purposes as the President, in his or her sole discretion, shall determine, keeping such use as close to my intent as possible."

Savings Clause
If your bequest is restricted for a particular purpose, we ask that you incorporate a "savings clause" to accommodate changes over time in the needs of the University: "In the event that such use shall, in the judgment of the President of Emory University, become unnecessary or impracticable, I direct that my gift shall be devoted to such purposes as the President, in his or her sole discretion, shall determine, keeping such use as close to my intent as possible."

Savings clause for medical research bequests: "In the event that such use shall, in the opinion of the Dean of Emory University School of Medicine, become unnecessary or impracticable, I direct that my gift shall be devoted to such purposes as the Dean of the Medical School, in his or her sole discretion, shall determine, keeping such use as close to my intent as possible."

Codicil to Last Will and Testament
If your estate plans are up to date, you can simply draft a short codicil, or amendment, to the existing document, using this or similar language: "I hereby amend my Last Will and Testament, executed on the 10th day of January in the year 2008. I direct that all provisions of that Will remain in effect but in addition direct that Emory University, an educational institution in Atlanta, Georgia, shall receive the sum of xxx dollars to be used to further the educational mission of the university as the President, in his or her sole discretion, may direct."

Please be aware that there are legal and practical considerations as you plan a restricted bequest to Emory. For example, certain gifts to Emory have minimum required amounts (e.g., endowed funds to establish department chairs, scholarships, fellowships, and professorships).

If you are considering designating your bequest for a specific purpose, please contact Emory's Office of Gift Planning.

Office of Gift Planning, Emory University
1762 Clifton Road, NE
Suite 1150
Atlanta, Georgia 30322

Phone 404.727.8875
Fax 404.727.0569

giftplanning@emory.edu

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Emory University 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 Emory University, a nonprofit corporation currently located at Atlanta, GA, 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 Emory 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 Emory 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 Emory 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 Emory where you agree to make a gift to Emory 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.