Bequest Language

Suggested Bequest Wording

A bequest is simple and convenient. You have a number of options.

You can make a bequest for a specific dollar amount or for a percentage of your estate. You can designate your bequest for general use or you can restrict its use. This bequest enables you to make a significant gift to Mayo Clinic that carries on your legacy of support long after you are gone. Bequests can take various forms. The following are some examples of types of bequests:

Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.

Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Including in your will

The following includes several examples of suggested bequest wording to benefit .

Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision with to ensure that your wishes will be properly followed and recognized.

Percentage of estate for unrestricted purposes

"I give, devise, and bequeath to the Mayo Clinic, a Minnesota charitable corporation located in Rochester, Minnesota the sum of ___ dollars ($___) (or percent of the residue of my estate) or (other personal or real property appropriately described) to be used for ______ (or as its Board of Trustees shall deem advisable) to best promote the institution's objectives and mission."

Percentage of estate for specific purposes

I give, devise, and bequeath to Mayo Clinic, a Minnesota charitable corporation located in Rochester, Minnesota the sum of ___ dollars($___) (or percent of the residue of my estate) or (other personal or real property appropriately described) to be used for ______. If the president of Mayo Clinic determines that it is not feasible or economical to use the gift for the purpose stated above, the gift may be used for such exempt purposes of Mayo Clinic as the president and/or board of trustees directs.

Specific amount for unrestricted purposes

I give, devise, and bequeath to , a Minnesota charitable corporation located in Rochester, Minnesota, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used at the discretion of the Board of Trustees of for the general purposes of and its related entities.

Specific amount for specific purposes

I give, devise, and bequeath to , a Minnesota charitable corporation located in Rochester, Minnesota, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at .

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the Board of Trustees may redesignate the purpose to adhere as closely as possible to my original intent.

To assist you with your plans, can provide sample language for the program or area you wish to support. Some of our friends like to name a specific fund or create an endowed fund to honor or memorialize someone special or to support something specific. If named gifts and/or endowed gifts are of interest to you, please contact us so we can assist you further. This confidential service is available to you without obligation.

Designating the purpose of a bequest

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by wherever the need is greatest.

Restricted: You may designate your bequest to support a special program or purpose that reflects your personal or professional interest (for example: faculty research and development, or library acquisitions).

If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

"..... for so long as the Board of Trustees of determines that the need exists. Should the need no longer exist, said Board of Trustees may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."

Back