Bequest Language

An Introduction to Including a Gift for Loras College in Your Estate Plans

The value and far-reaching effects of planned gifts can never be underestimated. Few honors are greater to Loras than the inclusion of the college in your estate plan. This type of future support will help ensure that Loras will be able to provide students with a Catholic liberal arts education of the highest quality for years to come. The following information offers a brief introduction to making a gift through your will or revocable trust.

Sample language to share with your attorney:

I give, devise, and bequeath to Loras College (Federal tax ID #42-0680412), a nonprofit Iowa corporation, located at 1450 Alta Vista Street, Dubuque, Iowa, the sum of $_____ (or _____ percent of my estate, or_____percent of the residue of my estate) to be used for such purposes as the Board of Regents determines at the time this bequest becomes effective.

Will or trust provisions may be designated for a specific purpose—such as scholarship funds, faculty development, or support for specific academic departments.

Donors who wish to restrict or designate a use for their gifts are encouraged to contact the Loras Development Office to ensure that the college understands the donor’s wishes.

In the case of a restricted bequest, we suggest additional language that would give the college flexibility to use the bequest for some other purpose in the event that the project or purpose designated by the donor is no longer needed or obsolete when the estate plan is realized. Adding the following sentence to the end of the bequest provision would provide this flexibility:

If, at any time after this bequest becomes effective, the funds are not needed or cannot be used for this purpose, then the Board of Trustees may direct the funds to be used for a purpose as closely related as possible to the original purpose described in this provision.

If you have any questions or would like more information about including Loras in your estate plan, please contact Amy L. Bess, Associate Vice President for Institutional Advancement, at Loras College, 1450 Alta Vista St., Dubuque, Iowa 52001. Amy’s direct line is (563) 588-7969.

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