Designating the Purpose of a Bequest
The most useful type of bequest is unrestricted, allowing the funds to be allocated by the Foundation wherever the need is greatest.
You may designate your bequest to support a specific department or college, a special program or purpose that reflects your personal or professional interest.
If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision: “It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then the Foundation may devote said bequest for such other uses and purposes as it determines to be in accordance with my original intent in making this gift.” Including this language will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.
Designation of the use of the funds bequeathed (devised, in the case of real property) can, or should be, as detailed as is felt necessary to describe adequately the desired use and purpose of the bequest.