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Suggested Bequest Language

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You may make a gift of cash, securities, real estate, or other assets by providing in your will or living trust for a bequest to Elmhurst. Your gift may be a specific bequest of a designated sum or asset, or it may be a percentage of your residuary estate.

The value of your bequest to Elmhurst is fully deductible for estate-tax purposes. You may also establish an income-producing planned gift for the benefit of others through your will, thereby reducing your taxable estate. A bequest, whether outright or to fund a planned gift, can be a useful and advantageous addition to your estate plan.

In drafting a will, an attorney tailors the instrument to the needs of a specific client or situation. It sometimes is helpful to the attorney, however, to study forms that have been appropriate for various types of bequests to an educational institution. Please be sure to include Elmhurst College’s tax ID# 36-2169-145.

Unrestricted Bequest and Gift

I give, devise, and bequeath to Elmhurst College, an Illinois corporation (Tax ID# 36-2169-145), located in Elmhurst, Illinois, the sum of $_________________ (or property or percentage of estate herein described) to be used by its Board of Trustees, as it may deem advisable, for the benefit of said institution.

Outright Bequest

I, ________________________, give, devise, and bequeath the sum of $________________ (or property or percentage of estate herein described) to Elmhurst College, an Illinois corporation (Tax ID# 36-2169-145), located in Elmhurst, Illinois. I request, but without creating a legal obligation, that said sum be used for __________________________________ (name purpose).

Outright Bequest to Establish Unrestricted Endowment Fund

I give, devise, and bequeath to Elmhurst College, an Illinois corporation (Tax ID# 36-2169-145), located in Elmhurst, Illinois, $___________________________ (or property, percentage of estate, securities, etc., as described herein), to constitute the (name of endowment) Fund. This Fund shall be kept invested by the Trustees of Elmhurst College and the annual income thereof used as the Trustees may direct.  The Fund, for purposes of investment, may be combined with other funds of Elmhurst College.

Outright Bequest to Establish a Restricted Fund

I give, devise, and bequeath to Elmhurst College, an Illinois Corporation (Tax ID# 36-2169-145), located in Elmhurst, Illinois, $____________________________ (or property, percentage of estate, securities, etc., as described herein) to constitute the (name of the endowment) Fund. This Fund shall be kept invested by the Trustees of Elmhurst College and the annual income thereof utilized for (description of restricted purpose specified by testator, i.e., scholarship, faculty compensation, etc.).  If the Trustees of Elmhurst College determine that all or part of the income can no longer be utilized to best advantage for the institutional purpose herein stated, then all or any part of the income may be used in whatever manner may, in the sole discretion of said Trustees, most closely carry out my intentions. The Fund, for purposes of investment, may be combined with other funds of Elmhurst College.

 

 

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