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Bequest Language

Sample suggested language for bequests to Pepperdine University

A bequest may be in the form of cash, securities, real estate, or other property. You should specify that PEPPERDINE UNIVERSITY receive a stipulated amount or a percentage of your estate, particular assets, or the remainder of your estate after providing for heirs. To discuss making a bequest or for assistance in drafting language, please contact us.

SPECIFIC BEQUEST are used to make gifts of a specific dollar amount or specific assets, such as securities, real estate, or personal property.

RESIDUARY BEQUESTS are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

CONTINGENT BEQUESTS will result in gifts to Pepperdine University only in the event of the death of other beneficiaries or the fulfillment of certain conditions described in your estate plan.

Suggested language would be as follows:

"I give, devise, and bequeath unto Pepperdine University
1. all of my residuary estate or
2. a portion of my residuary estate equal to % thereof or
3. the following described property at xxx, or
4. the sum of $         ."

Unrestricted: The most useful form of bequest is unrestricted, allowing the funds to be allocated by Pepperdine University wherever the need is greatest.

Restricted: You may designate your bequest to support a purpose or special program 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. This will ensure that, in the remote possibility a field study or specified purpose may cease to need funds in the future, an alternative use for the bequest may be determined.

"….for so long as the Board of Regents of Pepperdine University determines that the need exists. Should the need no longer exist, the said Board of Regents may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."

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.