Bequest Language

Establishing a legacy fund through a bequest requires direction in your will for an amount that will provide sufficient funding to fulfill your intent. The bequest can be a set amount, a percentage of your estate or the residual of your estate after all other commitments are fulfilled. It is important to provide sufficient instructions to make certain your intent is carried out over the short and long-term of your legacy fund. We suggest working with us to develop a document that can be changed until death, but then becomes a binding agreement. A simple bequest method that does not require changing a will or adding a codicil to a will is a designation to an IRA or similar retirement account. You can instruct the fund manager to direct a portion of the account to establish the legacy fund at death.

Another bequest type arrangement that is simple and effective is a Payable On Death (POD) designation.  You can simply make BSC Foundation as the POD beneficiary on a CD or similar investment.  The instruction you put in place now will become binding when funded by the POD designation.

The appropriate wording for making a gift depends upon the type of gift, state law and your own unique circumstances. The following will provisions are examples of how you may designate your gift. Consult an attorney to be sure you have a properly drafted legal document.
 
UNRESTRICTED GENERAL LEGACY:
I give to THE BISMARCK STATE COLLEGE FOUNDATION, P.O. Box 5587, Bismarck, ND  58506-5587, Tax ID#45-0358929, the sum of $______________ for its general purposes.
 
SPECIFIC LEGACY:
I give my ________________________________________(specify personal property item(s) and/or real property)
to THE BISMARCK STATE COLLEGE FOUNDATION, P.O. Box 5587, Bismarck, ND  58506-5587, Tax ID#45-0358929.
 
GIFT OF A PERCENTAGE OF THE RESIDUARY ESTATE:
Of all the rest, residue and remainder of my estate, both real and personal, and wherever situated, I give, devise and bequeath ___ % to THE BISMARCK STATE COLLEGE FOUNDATION, P.O. Box 5587, Bismarck, ND  58506-5587, Tax ID#45-0358929 for its general purposes.
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