Gift Planning: Leave Your Legacy.
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Your planned gift helps CSU fulfill its mission for generations to come.
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There are many ways to give: make a future gift through your estate or an immediate gift that provides income and countless other opportunities.
You may be looking for a way to make a significant gift to help further our mission. A bequest is a gift made through your will or trust. It is one of the most popular and flexible ways that you can support our cause.
Learn moreFind out What to Give and learn about the best assets to make a planned gift. Learn about gifts of cash, securities and property. Learn How to Give and discover gift options that provide tax and income benefits. Discover the best planned gift to meet your goals.
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Cleveland State University's Bequest Language
An excellent way for you to support CSU is to leave us a bequest in your will, your living trust or with a codicil. One significant benefit of making a gift by bequest is that you can use the property you plan to donate during your lifetime and still make a lasting legacy.
There are a number of ways you can make a bequest to Cleveland State University.
In order to make a bequest, you should speak with your attorney. (S)he can help you include a bequest to Cleveland State University in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to Cleveland State University, we recommend the following language:
If you are considering making a bequest of a percentage of your estate to CSU, we recommend the following language:
If you are considering a bequest but would like to ensure that it will be used for a specific purpose, please let us know. We are happy to work with you and your attorney to help identify ways you can donate and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the University flexibility should it no longer be possible to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to Cleveland State University or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for CSU in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Types of Bequests
There are a number of ways you can make a bequest to Cleveland State University.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For instance, you may wish to leave 10% of your estate to the University.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. So, for instance, you could leave 30% of the residue of your estate to Cleveland State University.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death or otherwise unable or unwilling to accept the house, it would go to the University
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For instance, you may wish to leave 10% of your estate to the University.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. So, for instance, you could leave 30% of the residue of your estate to Cleveland State University.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death or otherwise unable or unwilling to accept the house, it would go to the University
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate a bequest for general or specific purposes; thus providing you peace of mind that your gift will be used as intended.
Bequests are also exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. (S)he can help you include a bequest to Cleveland State University in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to Cleveland State University, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
2. Percentage BequestI hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
If you are considering making a bequest of a percentage of your estate to CSU, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, for Cleveland State University's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Cleveland State University's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to the Cleveland State University Foundation, a nonprofit organization located at 2121 Euclid Ave., Cleveland, OH, 44115, Federal Tax ID #34-1316665, DESCRIPTION OF PROPERTY to be used for Cleveland State University's general use and purpose.
Restricted Bequests
If you are considering a bequest but would like to ensure that it will be used for a specific purpose, please let us know. We are happy to work with you and your attorney to help identify ways you can donate and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the University flexibility should it no longer be possible to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Cleveland State University, it shall become impossible for the University to use this bequest to accomplish its specific purposes as delineated here, Cleveland State University may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have any questions about how to make a bequest to Cleveland State University or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for CSU in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
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PRIVACY STATEMENT
This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.