Bequest Gifts | Pepperdine University

Bequest Gifts

A bequest can be a specific dollar amount, a percentage of your estate,
or a specific asset(s) given to Pepperdine in support of its various programs and endeavors after your lifetime. A bequest may also be a gift of the remaining assets of your estate. Bequests can be designated for many purposes, such as scholarships, or given without restriction.

 

Bequest to Pepperdine

Make a gift to Pepperdine through will, trust, or retirement plan

Maintain control during lifetime

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Charitable Deduction

Estate tax deduction may reduce or eliminate estate taxes

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Living Legacy

May designate program, school, or scholarship

Strengthen lives for purpose, service, and leadership

Detailed information

Bequests to Establish Endowments

Both unrestricted and restricted bequests may be designated to establish endowment funds:

Unrestricted Endowment

"I give, devise, and bequeath to Pepperdine University (the rest, residue, and remainder of my estate). The property comprising this gift may, for investment purposes, be merged with the general investment assets of Pepperdine University. The gift shall be entered into the University's books and records as The Fund and shall always be so designated. The spendable income therefrom, but not the principal, shall be used to further the purposes of Pepperdine University in such manner as the Regents may direct."

Restricted Endowment

"I give, devise, and bequeath to Pepperdine University (the sum of $) (percent of my estate) (the following property) (the rest, residue, and remainder of my estate). The property comprising this gift may, for investment purposes, be merged with the general investment assets of Pepperdine University. The gift shall be entered into the University's books and records as The Fund and shall always be so designated. The spendable income therefrom, but not the principal, shall be used for (state purpose). If, in the opinion of the trustees of the University, the need for funds for the purpose described above no longer exists at some future date, the Board of Regents, or their successors, are authorized to use these funds in the best interest of the University, provided that the identity of the fund is maintained."

It is recommended that restricted provisions be described as broadly as possible and that detailed limitations be kept to a minimum. Please consult with the Center for Estate and Gift Planning before drafting such provisions to assure that they can be implemented according to your desires.

Restricted Bequests

Donors may restrict the usage of their bequests. A restricted bequest might provide as follows:
"I give, devise, and bequeath to Pepperdine University (the sum of $) ( percent of my estate) (the following property) (the rest, residue, and remainder of my estate). The property comprising this gift shall be used for (state purpose). If, in the opinion of the Board of Regents of the University, or their successors, the need for funds for the charitable purpose described above no longer exists at some future date, the regents, or their successors, are authorized to use these funds in the best interest of the University."

Unrestricted Bequests

An unrestricted bequest is one intended for the general and best use by the University at the discretion of the Board of Regents. Such a bequest might read: "I give, devise, and bequeath to Pepperdine University (the sum of $) (percent of my estate) (the following property) (the rest, residue, and remainder of my estate). The property comprising this gift may be used to further the charitable purposes of Pepperdine University at the discretion of its Board of Regents."

Please access the Bequest Language information page for additional assistance in drafting language.

If your estate plan is in order and you have chosen to list Pepperdine University as a partial or full beneficiary and wish your intentions to be known click here to access the Estate Intention Form.

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