When you create your will (or revise an existing one), we hope that you will include Ursuline Academy in your estate plans. These gifts, called bequests, make a tremendous difference in our ability to serve the next generation of Ursuline students.
Leaving a bequest is easy. All it involves is adding the following simple paragraph to your will:
“I give, devise, and bequeath to Ursuline Academy of Wilmington, Delaware, the sum of $________(or a percentage or a description of the specific asset), for the benefit of Ursuline Academy and its general purposes.”
Legal Name and Address:
of Wilmington, Delaware
1106 Pennsylvania Avenue
Wilmington, DE 19806
As you consider an estate gift, it may be useful to know some of the options you have. For example, you can make your bequest as an unrestricted gift. This choice permits Ursuline to use your donation where it is needed most.
A second type of bequest is a restricted one; that is, you designate it for a particular purpose. For example, a gift may be earmarked for a program about which you feel strongly, for scholarships, or for renovations to our facilities.
Of course, you can also combine these two options, giving one part toward our general fund and another to serve a predetermined project.
Once you’ve decided on the kind of bequest you wish to make, you should determine how the bequest will be identified:
First, you can specify a specific amount or item. For example, you could bequeath a vacation home to Ursuline…or certain securities…or a set amount of money.
Second, you could name Ursuline as the recipient of a percentage of the residue of your estate – the amount that is left after the bills and other specific bequests have been made.
Finally, you could name Ursuline Academy as a “contingent beneficiary” to receive that part of your estate that would have passed to another person had he or she been living. For example, a will can indicate that everything is to go to your spouse unless your spouse predeceases you – in which case the assets, or part of them, could be assigned to Ursuline.
All this information will help your attorney when you meet with him or her to finalize your will.
As you think through your estate giving plans, please be sure to speak with Deborah Hurd in the Advancement Office. This conversation will ensure that Ursuline will honor your wishes as you have intended.