| Sample Bequest Language Please note that gifts
of this nature should be carefully considered in relation to your comprehensive
financial and estate plans. We strongly recommend that you consult an attorney
in the preparation of your will and to supervise its execution so as to comply
with your state requirements. The following are examples for illustration only. •
When including a bequest provision in your will, always use the full legal name
and provide the federal taxpayer identification number.
• Our full, legal
name is: "Seton Hall University."
• Our federal taxpayer identification
number is:22-1500645.
Bequests for Unrestricted
Purposes
Unrestricted gifts are to be used for the greatest need at the
time to be determined by the Board of Regents. A general unrestricted bequest
is especially valued by us. -
For a bequest of securities, the possible language is: "I give Seton Hall
University all of my shares of XYZ stock or mutual fund to be used for the benefit
of Seton Hall." - For a bequest of cash,
the possible language is: "I give to Seton Hall University the sum of (Amount)
to be used for the benefit of Seton Hall." If
you do not want to specify the exact amount or nature of the intended gift, perhaps
because the size of the future estate is difficult to estimate, a proportional
bequest is often the best way to accomplish your goals. We would receive a percentage
of the estate or the residue of the estate, after all other provisions have been
met. - Possible language is: "I give to Seton Hall University (percent)
of my estate, or (percent of the rest, residue and remainder) of my estate to
be used for the benefit of Seton Hall." Contingent
Bequest
A contingent bequest takes effect only if the primary intention
cannot be met (e.g. if the primary beneficiary does not survive the donor). This
ensures that property will not be distributed to unintended beneficiaries.
- Possible language is: "If (name of primary beneficiary) does not survive me,
or shall die during the administration of my estate, or as a result of a common
disaster, then I give to Seton Hall University all of the rest, residue, and remainder
of my estate, to be used for the benefit of Seton Hall."
 Bequests
for Restricted Purposes
If you would like
to honor a family member, a special person or provide support for a specific program
or department that was meaningful to you, then you can designate your bequest
specifically for that purpose. You simply use any form of the possible language
included above, and replace "to be used for the benefit of [ insert purpose or
intent ]" with the specific designation. Often specific guidelines govern the
use of these types of funds.
Since no one
can anticipate the changes that may occur at Seton Hall in the future, it’s a
good idea to consider a “savings clause” in your Will, which might read as follows:
“If at any time at the discretion of the Board of Regents of Seton Hall University,
this bequest shall no longer be necessary for the stated purposes, the Vice President
of University Advancement shall have the authority to designate its use for another
purpose that closely resembles my original intention.” If
you already have a will
A codicil is a written change or amendment to a
will. Click here for a printable copy
of what a codicil would look like. Please remember to consult your attorney to
make sure you are properly advised. We recommend
that you contact us to discuss your restricted gift. We are here to help you as
you plan. Thank you for remembering Seton
Hall. Click here to return to Wills and Bequests. | 
