Oklahoma City University's Bequest Language
An excellent way for you to support Oklahoma City University's mission is to leave Oklahoma City University a gift in your will, living trust or with a codicil. One significant benefit of making a gift is that it allows you to continue to use the property you plan to leave to Oklahoma City University during your life. Another benefit is that you are able to leave a lasting legacy.
Please contact us if you have any questions about how to make a bequest to Oklahoma City University or to request any additional information that might be helpful to you and your attorney as you consider making a gift to us.
If you have included a gift for Oklahoma City University in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift as a part of the Gold Star Society member.
There are a number of ways you can make a gift to Oklahoma City University.
In order to make an estate gift, you should speak with your attorney. Your attorney can help you include a bequest to Oklahoma City University in your estate plan. We have provided some basic gift language to assist you and your attorney.
1. Specific Gift
If you are considering making an outright gift to Oklahoma City University, we recommend the following language:
If you are considering making a gift of a percentage of your estate to Oklahoma City University, we recommend the following language:
If you are considering a gift but would like to ensure that your gift will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to assist you to identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted gift, we recommend that your attorney include the following provision to give Oklahoma City University flexibility should it no longer be possible for our Oklahoma City University to use your gift as you originally intended:
Contact Us
Please contact us if you have any questions about how to make a bequest to Oklahoma City University or to request any additional information that might be helpful to you and your attorney as you consider making a gift to us.
If you have included a gift for Oklahoma City University in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift as a part of the Gold Star Society member.
Types of Gifts
There are a number of ways you can make a gift to Oklahoma City University.
Specific Gifts. A specific gifts involves making a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Oklahoma City University.
Percentage Gift. Another kind of specific gift involves leaving a specific percentage of your overall estate to Oklahoma City University. For example, you may wish to leave 10% of your estate to Oklahoma City University.
Residual Gift. A residual gift is made from the balance of an estate after the will or trust has given away each of the specific gifts. A common residual gift involves leaving a percentage of the residue of the estate to Oklahoma City University. For example, you may wish to leave 30% of the residue of your estate to Oklahoma City University.
Contingent Gift. A contingent gift is made to charity only if the purpose of the primary gift cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the gift language could provide that if the relative is not alive at the time of your death, the vacation home will go to Oklahoma City University.
Percentage Gift. Another kind of specific gift involves leaving a specific percentage of your overall estate to Oklahoma City University. For example, you may wish to leave 10% of your estate to Oklahoma City University.
Residual Gift. A residual gift is made from the balance of an estate after the will or trust has given away each of the specific gifts. A common residual gift involves leaving a percentage of the residue of the estate to Oklahoma City University. For example, you may wish to leave 30% of the residue of your estate to Oklahoma City University.
Contingent Gift. A contingent gift is made to charity only if the purpose of the primary gift cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the gift language could provide that if the relative is not alive at the time of your death, the vacation home will go to Oklahoma City University.
Gift Benefits
A gift is generally revocable, which means it can be changed or modified at any time. You can choose to designate that an estate gift be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Gifts are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Gift Language
In order to make an estate gift, you should speak with your attorney. Your attorney can help you include a bequest to Oklahoma City University in your estate plan. We have provided some basic gift language to assist you and your attorney.
1. Specific Gift
If you are considering making an outright gift to Oklahoma City University, we recommend the following language:
Gift of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
Gift of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
Gift of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
2. Percentage GiftI hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
Gift of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
Gift of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
If you are considering making a gift of a percentage of your estate to Oklahoma City University, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, for Oklahoma City University's general use and purpose.
3. Residual GiftI hereby give, devise and bequeath to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Oklahoma City University's general use and purpose.
4. Contingent GiftIf (primary beneficiary) does not survive me, then I hereby give, devise and gift to Oklahoma City University, a nonprofit organization located at 2501 N. Blackwelder, Oklahoma City, OK, 73106, Federal Tax ID #73-0579265, DESCRIPTION OF PROPERTY to be used for Oklahoma City University's general use and purpose.
Restricted Gifts
If you are considering a gift but would like to ensure that your gift will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to assist you to identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted gift, we recommend that your attorney include the following provision to give Oklahoma City University flexibility should it no longer be possible for our Oklahoma City University to use your gift as you originally intended:
If, in the judgment of the Board of Trustees of Oklahoma City University, it shall become impossible for Oklahoma City University to use this gift to accomplish the specific purposes of this gift, Oklahoma City University may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my gift.
