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Planned gifts such as wills, trusts, annuities, and life insurance policies represent important ways you can help build Oglethorpe University’s endowment. Each of these gifts has unique tax advantages. Some of these gift vehicles can pay you income. With a planned gift you can endow a scholarship or other perpetual fund. We would be delighted to show how a planned gift can be a win-win-win for you, your family, and Oglethorpe. Donors who choose to remember the university in their estate plans are inducted to the¬†Nescit Cedere Heritage Society.

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Considering a bequest to Oglethorpe in your will?

We encourage you to share the following suggested bequest language with your attorney as you prepare or revise your will.

Unrestricted Bequest

“I give and bequeath to Oglethorpe University, Inc., in Atlanta, Georgia, the sum of xxx dollars. This gift shall be used to further the educational mission of Oglethorpe University in such a manner as the Board of Trustees of the University may direct.”

You might choose to replace “the sum of xxx dollars” with one of the following:

“xx percent of my adjusted gross estate”

“all the rest, residue and remainder of my estate”

“xx percent of my residuary estate”

 

Bequest Restricted for Endowment

“I give and bequeath to Oglethorpe University, Inc., in Atlanta, Georgia, the sum of xxx dollars to create an endowed fund to be named xxx, which shall be invested as the Board of Trustees of the University may deem best. Distributions from the endowed fund shall be made each year in accordance with the spending policies of the University and shall be used for scholarships (or faculty compensation, or the study of the sciences, or another broad priority) at Oglethorpe University. The fund, for purposes of investment, may be combined with other funds of Oglethorpe University, but the fund shall be separately accounted for.”

If you are interested in endowing a chair, scholarship, or other named fund, please contact David Brown (see below) for criteria including gift minimums.

Again, you might choose to replace “the sum of xxx dollars” with one of the following:

“xx percent of my adjusted gross estate”

“all the rest, residue and remainder of my estate”

“xx percent of my residuary estate”

 

Codicil to Last Will and Testament

If your estate planning documents are up to date, you can simply draft a short codicil or amendment to the existing documents, using this or similar language:

“I, Sharon Smith, hereby amend my Last Will and Testament, executed on the 10th day of November in the year 2002. I direct that all provisions of that Will remain in effect but in addition direct that Oglethorpe University, Inc., in Atlanta, Georgia, shall receive the sum of xxx dollars to be used to further the educational mission of the University in such a manner as the Board of Trustees of the University may direct.”

 

Savings Clause

We recommend that restriction on gifts be stated in broad and flexible terms, since the University’s specific needs may change over time. If your bequest is restricted for a particular purpose, we ask that you incorporate a “savings clause,” which might read as follows:

“If at the time this bequest is received by Oglethorpe University, Inc., or any time thereafter, the Board of Trustees of the University determine that all or any part of the bequest can no longer be utilized to best advantage for the institutional purpose designated herein, then all or any part of the bequest may be used for such other institutional purpose which, in the sole discretion of the Board of Trustees, shall most closely carry out my intention.”