Creating a Bequest
Bequests through Wills and Revocable Living Trusts are the foundation of our philanthropic tradition. Such gifts enable you to make significant contributions that may not be possible during your lifetime. Through a bequest, you can leave a legacy to perpetuate student success, promote faculty excellence, enhance academic programs, or improve facilities that enrich the WSU experience without affecting your current financial picture.
Benefits of a Bequest
- A simple way to make a future gift to WSU.
- Continue your annual gift in perpetuity.
- Maintain flexibility; a bequest can be altered to fit your changing life and goals.
- Retain control over your property during your lifetime.
- Reduce your estate tax liability.
- Receive the personal satisfaction that comes from creating your own family legacy.
Creating a Bequest to the WSU Foundation
To create a bequest to the WSU Foundation you will need to complete the following steps:
- Determine how you wish to distribute your property to your loved ones and your favorite charities.
- Contact the WSU Foundation's Gift Planning team to help you and your attorney draft a bequest that fits your situation, satisfies your personal goals, and meets the University's needs. The Gift Planning team will be happy to help you prepare a Gift Use Agreement to ensure that your planned gift supports the area at WSU most important to you.
- Provide the Gift Planning team with a copy of the designation form from your Will, Revocable Living Trust, or beneficiary indicating your bequest to WSU. Bequest terms are kept in strict confidence.
- Receive recognition for your intended gift and become a member of the Legacy Associates. If you prefer, we will honor your wish to remain anonymous.
- As you move through the stages of your life, your bequest can be changed to meet the goals important to you at that time. If your attorney has your current estate planning documents, have him/her draft a short Codicil (amendment) to the existing documents to provide for a bequest to the WSU Foundation (refer to the Sample Bequest Language page for options).