Bequests
Leaving a gift in your will to Southeastern Development Foundation is one of the most thoughtful ways to benefit the Southeastern community through a gift for the future. Your gift shows forethought, planning and community commitment. People from all walks of life leave gifts both large and small to the University, recognizing the role it plays in assisting the community through educational, cultural and economic development. Leaving a gift in your will is one way to make the type of gift that you may not be able to make during your lifetime. A testamentary gift is still the most realistic way for many donors to make a significant contribution to Southeastern.
Types of Bequests
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Cash bequest. SDF receives a specific dollar amount.Bequest of property. SDF receives specific assets, such as securities, an interest in real estate (such as a residence) or tangible personal property (e.g., works of art, antiques).Residuary bequest. SDF receives all or a percentage of the remainder of the estate after the payment of any specific bequests and all estate-related expenses.Testamentary trust.The trust provides one or more heirs with income for life, after which the assets pass to SDF.Retirement Plan. SDF is designated as a beneficiary of the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan.Testamentary OTJP Trust. The trust provides income, and principal if needed, to your spouse for life, after which the assets pass to SDF.Contingent bequest. SDF is given a bequest only in the event of the death of other beneficiaries.
Tax Benefits
A bequest is deductible for federal estate tax purposes, and there is no limit on the amount of the estate tax charitable deduction. In addition, bequests generally are not subject to state inheritance or estate taxes. In a large estate, the savings can be more than half the value of the bequest to SDF.
How To Make A Bequest
A bequest to SDF can be made by creating a new will, adding a codicil to your present will, or including SDF in your revocable trust.
Examples of Bequest Language
Provisions in your will or trust agreements should include the statement: “To the Southeastern Development Foundation for the benefit of Southeastern Louisiana University." The following examples can be tailored to best suit your interests.
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Unrestricted Bequest"I give (____ dollars/ ____ percent or all of the residue of my estate) to the Southeastern Development Foundation for the benefit of Southeastern Louisiana University, for the benefit of the (name the specific school or affiliate)."
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Bequest To Establish An Endowment"I give (____ dollars/ ____ percent or all of the residue of my estate) to the Southeastern Development Foundation for the benefit of Southeastern Louisiana University, for the (name the specific school or affiliate), the income only to be used for the following purpose: (state the purpose). If, in the future, it is the opinion of the University President that all or part of the income of this fund cannot be usefully applied to such purpose, the President may use the same for any purpose that will most nearly accomplish my wishes."
For more information, please contact:
Lynn Harris Horgan
(985) 549-2239
or toll free (866) 474-4438
email to: lhorgan@selu.edu