Did you know you can create a gift with one sentence? If you’re looking for simplicity and flexibility, a bequest offers a straightforward way to support IU School of Medicine. Your bequest can take the form of a specific dollar amount, asset, or percentage of an estate.
What are the benefits of a bequest?
A bequest can support the students, physicians, and researchers you care about, but it also has several other advantages:
- Estates receive an estate tax charitable deduction
- Assets used to make the gift are not affected during your lifetime
- You help augment work you deem vitally important
- You can change or reverse the bequest at any point
What do you need to do?
Your attorney will need to revise and update your will or estate plan to reflect your wishes. Your attorney can accurately reflect your intent in your estate plan with language such as this:
“I give, devise and bequeath the [sum of/percentage of/residue of estate] to Indiana University Foundation, a non-for-profit corporation with principal offices located in Bloomington, Indiana, to be utilized for the benefit of Indiana University School of Medicine as specified in a gift agreement on file at said Foundation."