Legal information and wording in the US
Wording your Will
The University of Exeter US Foundation can accept various assets as a bequest including cash, life insurance and retirement plans.
Bequests are usually created in a Will or revocable trust and can offer a charitable estate tax deduction. They are also flexible – the sum or percentage can be increased or decreased at any time.
A Qualified Charitable Distribution (QCD) can become tax free if they are paid directly from an Individual Retiremenet Account (IRA) to an eligible charitable organisation.
Suggested wording to share with your attorney or financial planner:
(We would always advise that you seek independent professional legal advice.)
“I give [specify amount of property, percentage, or residue] to the University of Exeter US Foundation, a not-for-profit corporation, chartered in the State of Delaware, located at: 244 Fifth Avenue, Suite #S298, New York, NY 10001-7604, for its general uses and purposes. The Tax ID number is 47-1604216.
Should the University of Exeter US Foundation not be in existence at the time of my death then my bequest should be given directly to the University of Exeter, Northcote House, The Queen’s Drive, Exeter, EX4 4QJ, England (exempt charity number X9538).
It is my preference that my legacy gift to the University of Exeter be directed towards [please insert preferences for purpose]. I declare that the receipt of a proper officer of the University shall be a sufficient discharge to my executors.”