Remembering UAM
The following wording should be used only upon the advice of an attorney.
WILLS
1. Unrestricted Bequest:
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello.”
OR
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., _________shares
of ABC Corporation common stock, for the benefit of the University of Arkansas at
Monticello.”
OR
“I give, devise and bequeath all of the rest of my estate (or _________percent of
the rest
of my estate) to The University of Arkansas Foundation, Inc., for the benefit of the
University of Arkansas at Monticello.”
2. Designated Bequest:
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) for the benefit
of the (school, department, division, or program) at the University of Arkansas at
Monticello.”
OR
“I give, devise and bequeath all of the rest of my estate (or _________percent of
the rest of my estate) to The University of Arkansas Foundation, Inc. for the benefit
of the (school, department, division, or program) at the University of Arkansas at
Monticello.”
3. Restricted Bequest for Specific Purpose:
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello, to be used for the following purposes:__________________(set
forth purpose or purposes).”
OR
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello, to be used in accordance with a memorandum
of understanding dated_________ , 20__, on file with The University of Arkansas Foundation,
Inc.” (Memorandum of understanding should be in existence at time will is signed.)
OR
“I give, devise and bequeath all of the rest of my estate (or _________percent of
the
rest of my estate) to The University of Arkansas Foundation, Inc. for the benefit
of the
University of Arkansas at Monticello, to be used for the following purposes:________________
(set forth purpose or purposes).”
4. Bequest to Establish or Add to an Endowed Fund:
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be used to
establish The John Doe Endowed (professorship, scholarship, fellowship, or chair)
Fund for the benefit of the School of ______________________________at the University
of Arkansas at Monticello, with the income only to be used for said purpose.”
OR
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be used to
establish The John Doe Endowed (professorship, scholarship, fellowship, or chair)
Fund for the benefit of the School of _______________________________at the University
of Arkansas at Monticello, with the income only to be used in accordance with a memorandum
of agreement dated__________ , 20__, on file with The University of Arkansas Foundation,
Inc.” (Memorandum of agreement should be in existence at time will is signed.)
OR
“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be added
to The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for
the benefit of the University of Arkansas at Monticello, with the income only to be
used therefore.”
5. Contingent Provision:
“If any of the above beneficiaries should predecease me, then I give the property,
real or personal, that each such beneficiary would have received had he or she survived
me, to The University of Arkansas Foundation, Inc., for the benefit of the University
of Arkansas at Monticello.”
TRUSTS
1. Unrestricted Provision:
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $__________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello.”
OR
“Trustee shall distribute to The University of Arkansas Foundation, Inc.,_____________
shares of ABC Corporation common stock, for the benefit of the University of Arkansas
at Monticello.”
OR
“Trustee shall distribute the remainder of the trust estate (or _________percent of
the remainder of the trust estate) to The University of Arkansas Foundation, Inc.,
for the benefit of the University of Arkansas at Monticello.”
2. Designated Provision:
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $__________ dollars (or the following described property or assets) for the benefit
of the (school, department, division, or program) at the University of Arkansas at
Monticello.”
OR
“Trustee shall distribute the remainder of the trust estate (or _______percent of
the remainder of the trust estate) to The University of Arkansas Foundation, Inc.
for the benefit of the (school, department, division, or program) at the University
of Arkansas at Monticello.”
3. Provision for Specific Purpose:
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello, to be used for the following purposes:____________________________
(set forth purpose or purposes).”
OR
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $__________ dollars (or the following described property or assets) for the benefit
of the University of Arkansas at Monticello, to be used in accordance with a memorandum
of understanding dated____________ , 20__, on file with The University of Arkansas
Foundation, Inc.”
OR
“Trustee shall distribute the remainder of the trust estate (or ______percent of the
remainder of the trust estate) to The University of Arkansas Foundation, Inc. for
the benefit of the University of Arkansas at Monticello, to be used for the following
purposes:_____________________ (set forth purpose or purposes).”
4. Provision to Establish or Add to an Endowed Fund:
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be used to
establish The John Doe Endowed (professorship, scholarship, fellowship, or chair)
Fund for the benefit of the School of _______________________at the University of
Arkansas at Monticello, with the income only to be used therefor.”
OR
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be used to
establish The John Doe Endowed (professorship, scholarship, fellowship, or chair)
Fund for the benefit of the School of_____________ at the University of Arkansas at
Monticello, with the income only to be used in accordance with a memorandum of agreement
dated__________________ , 200__, on file with The University of Arkansas Foundation,
Inc.”
OR
“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum
of $_________ dollars (or the following described property or assets) to be added
to The John Doe Endowed (professorship, scholarship, fellowship, or chair) Fund for
the benefit of the University of Arkansas at Monticello, with the income only to be
used therefor.”
5. Contingent Provision
“If any of the above beneficiaries should predecease the settlor, then trustee shall
distribute the property, real or personal, that each such beneficiary would have received
had he or she survived settlor, to The University of Arkansas Foundation, Inc., for
the benefit of the University of Arkansas at Monticello.”
CHANGED CONDITIONS
The following language is suggested if the will bequest or trust provision is for
a designated or restricted purpose:
“If the School of ______________________ceases to exist and all or part of these funds
cannot be used as originally intended, the Chancellor of the University of Arkansas
at Monticello may redirect the funds for use in programs that are as closely compatible
with my original intent as possible and that are in the best interests of the University
of Arkansas at Monticello.”
The preceding wording should be used only upon the advice of an attorney.
UAM Office of Advancement
PO Box 3520
Monticello, Arkansas 71656
Phone: (870) 460-1028
Fax: (870) 460-1324