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Duquesne University Bequest Language

For a specific bequest of cash, stock or property:
I hereby bequeath to Duquesne University of the Holy Spirit, a charitable Pennsylvania corporation, located in Pittsburgh, Pennsylvania, [the sum of $ ] OR [the following securities/tangible personal property/real estate] OR [ % of my estate] to be used for the University's areas of greatest need.

Residuary bequest:
All the rest, residue, and remainder of my estate, of whatsoever nature and wheresoever situate and which I may own or to which I may in any way be entitled at the time of my death, including any lapsed or renounced legacies or devises, but excluding any property over which I may have a power of appointment (my "Residuary Estate"), shall be distributed to Duquesne University of the Holy Spirit, a charitable Pennsylvania corporation, located in Pittsburgh, Pennsylvania, to be used for the University's areas of greatest need.

Additional Information

Contingency planning:
It is possible that your bequest, as originally stated, might be impossible to fulfill at the time of your death. Therefore, it is helpful to include language that provides for an alternative use for the funds. While it is impossible to plan for all contingencies, at the very least, one alternative distribution scheme should be included in your bequest. This language can be added at the end of any bequest. Please contact Mary Frances Dean, Esquire (deanm1@duq.edu or 412.396.4272 ) for further information and sample language.

Endowments:
@[Orgname]  encourages gifts to create new or add to existing endowments. Perpetual endowments are those for which the donor has stipulated that the fund's principal be maintained inviolate and in perpetuity, but that all or part of the income derived from investment of the fund's principal may be expended.

For example, to create a bequest for the creation of an endowed scholarship at @[Orgname] , the following language can be used:

I hereby bequeath to Duquesne University of the Holy Spirit, a charitable Pennsylvania corporation, located in Pittsburgh, Pennsylvania, [the sum of $ ] OR [the following securities/tangible personal property/real estate] OR [ % of my estate] to be used for the education of students enrolled in the night program at the Duquesne University School of Law subject to the following provisions:

a. Provided that my bequest meets the minimum amount necessary to create a named endowment, upon receipt of my gift,@[Orgname] shall enter the bequest into the books and records of@[Orgname] as the [insert your name or name after which scholarship will be named] Endowed Scholarship.

b. The fund principal shall be held in perpetuity. Only the income from this endowed fund shall be awarded annually to [for example: a student enrolled in the School of Law's night program with demonstrated financial need].

c. This bequest shall by managed by @[Orgname] and merged for investment purposes in accordance with standards set forth by the Duquesne University Board of Directors.

d. Should the fulfillment of the expressed purpose of this bequest become no longer possible, as determined by the Board of Directors of Duquesne University, then distributions from this endowment shall be used for such purposes as may, in the Board's opinion, most closely fulfill my intentions as herein described.

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