Thank you for considering an inheritance at the University of Alabama. Your estate planning documents must be prepared or amended with the help of a lawyer; However, the University of Alabama Office of Planned Giving welcomes the opportunity to help you and your lawyer produce gift languages that match your situation and that produce your effects in college. All of these questions go into the language that should be used. Many of the options are discussed below. The most definitive way to ensure that your intentions are clearly defined is to define your particular bequest name by a separate Memorandum of Understanding, which is carried out directly with the university. We recommend this route so that your will can simply indicate that the inheritance is sent to the Fund, with all the details set out in this separate agreement between you and the university. It will also allow the university to document your intentions as a gift and perhaps recognize you as a member of the Denny Society. It is also important to note that an agreement sets the minimum necessary for the scope of well-being at the current level. In the absence of the agreement, the minimum necessary to liquidate the foundation will be from the date on which the inheritance was received at the university, which is usually the time several years later. The current minimums for the creation of a foundation are: “I give, and I dedicate to the Council of Trustees of the University of Alabama (percentage of the estate, certain amount in dollars, specific property or rest of the estate).
This bequest is used to create the fund (name of the foundation) and is added to the University Foundation, which must be maintained sustainably with the income that is devoted to it, to be used for (the description of the limited purpose indicated by the deceased – for example, scholarships. B, helping teachers, etc., for the benefit of a school, a university, a department, a unit, etc.). If the amount of the inheritance does not reach the minimum level required to create a foundation for the desired purpose, that inheritance will be used for purposes similar to those identified by the President of the University of Alabama. I give the University of Florida Foundation, Inc., a non-profit organization based in Gainesville, Florida, a gift subject to the terms of a separate (named) donation agreement (named) – between the tester and the University of Florida Foundation, Inc. Syuse University or its related companies may be designated as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled. “I give, under the University of Alabama Trustee Council (percentage of the estate, a certain amount in dollars, the specific property or the rest of the estate).