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How to Include Philadelphia University in Your Will

Sample Bequest Language

A gift to Philadelphia University in your will or revocable trust proclaims your confidence that we will continue to fulfill our mission and make a difference in the lives of future generations. A bequest:
  • Is easy to arrange.
  • Does not affect your assets or cash flow during your lifetime.
  • Can be easily modified to address your changing needs.
Residual Bequest
A residual bequest comes to us after your estate expenses and specific bequests are paid:

I give to Philadelphia University, currently located in Philadelphia, Pennsylvania (EIN 23-1352294), all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general purposes (or for the support of a specific fund or program).

Specific Bequest
Naming Philadelphia University as a beneficiary of a specific amount from your estate is easy:

I give to Philadelphia University, currently located in Philadelphia, Pennsylvania (EIN 23-1352294), the sum of $___________ to be used for its general purposes (or for the support of a specific fund or program).

Contingent Bequest
Philadelphia University can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:

If (insert name) is not living at the time of my demise, I give to Philadelphia University, currently located in Philadelphia, Pennsylvania (EIN 23-1352294), the sum of $ ________ (or all or a percentage of the residue of my estate) to be used for its general purposes (or for the support of a specific fund or program).

Sample Codicil for Existing Will
You can add a bequest with out rewriting your will by simply adding a codicil:

I, {full name}, a resident of {City, State}, having made my Last Will and Testament dated____________________, do hereby make this Codicil to said Will.

I hereby amend Article __________________ of my will by giving to Philadelphia University, currently located in Philadelphia, Pennsylvania (EIN 23-1352294), [the residue of my estate] OR [_______% of my estate] OR [the sum of ______________ dollars] and accordingly:

(Repeat and revise article in your will which you are changing.)

In witness whereof, I hereunto set my hand and seal this ___ day of ____ (month), 20 __.

(Signature)

The foregoing was subscribed and sealed by the above named person in our presence and at the same time published, declared, and acknowledged by such person to us to be a Codicil to such person's Last Will and Testament dated ______, this ____ day of ____ (month), 20 ____.

Witness _______________________________ Residing at ________________________

(Signature)

Witness _______________________________ Residing at ________________________

(Signature)

Retirement Plan
You may name Philadelphia University as a beneficiary of your IRA or other qualified retirement benefits. Consult with your advisor to determine the benefits you would derive from such a gift.

Naming Philadelphia University as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish your charitable goals while potentially giving your estate significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Philadelphia University as a beneficiary of a retirement plan, you maintain complete control over the asset while living, but at death the plan goes to Philadelphia University free of both estate and income taxes.

You can make a charitable gift from your retirement plan by entering Philadelphia University's name on the Change of Beneficiary form, available from your plan administrator.

Please let us know when you make your gift so we can thank you.

Customized Language
If you wish to make a legacy gift, we would be pleased to work with you and your advisor to determine the gift that best suits your situation and interests. Please contact Michael S. Molloy, Assistant Vice President for Major Gifts and Planned Giving, at 215-951-0254 or molloym@PhilaU.edu.



This publication is intended to provide general gift planning information. Our organization is not qualified to provide specific legal, tax or investment advice, and this publication should not be looked to or relied upon as a source for such advice. Consult with your own legal and financial advisors before making any gift.
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