Bequest Language

In drafting a will, an attorney tailors the instrument to the needs of a specific client or situation.  It is sometimes helpful to the attorney, however, to study forms such as those below that have been appropriate for various types of bequests to an educational organization.  To access a PDF copy of these examples, please click here.

Unrestricted Bequest and Gift

I give, devise and bequeath to National Louis University, an Illinois corporation, located in Chicago, 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 National Louis University, an Illinois corporation, located in Chicago, 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 National Louis University, an Illinois corporation, located in Chicago, Illinois, $___________________________________ (or property or 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 National Louis University and the annual income thereof used as the Trustees direct.  The Fund, for purposes of investment, may be combined with other funds of National Louis University.

Outright Bequest to Establish a Restricted Endowment Fund

I give, devise, and bequeath to National Louis University, an Illinois corporation, located in Chicago, 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 National Louis University and the annual income thereof utilized for (description of restricted purpose specified by testator, i.e., scholarship, faculty compensation, etc.)

If the Trustees of National Louis University determine that all or part of the income can no longer be utilized to the 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 National Louis University.