Source: https://uncg.giftlegacy.com/?pageID=127
Timestamp: 2017-09-22 09:46:03
Document Index: 15294893

Matched Legal Cases: ['§116', '§501', '§170', '§170', '§2055', '§2522']

Bequest Language, UNCG
Bequest Language for The University of North Carolina at Greensboro
It is important that your will or trust document indicate the appropriate charitable entity you wish to support. Below are samples of bequest language that may prove useful to you. These are examples only, and should be used with the advice and assistance of your attorney.
Founded in 1891, the University of North Carolina at Greensboro is a constituent institution of the University of North Carolina. Gifts to UNCG generally qualify as charitable contributions, which are deductible for federal income, estate, and gift tax purposes.
"The University of North Carolina at Greensboro"
Legal Description: The University of North Carolina at Greensboro (UNCG), identified by federal taxpayer identification number 56-6001468, is a constituent institution of the University of North Carolina established and governed by Chapter 116 of the North Carolina General Statutes. As such it is exempt from all kinds of public taxation, as set forth in §116-16 of said Chapter; it is recognized as exempt from federal income taxes under §501(c)(3) of the Internal Revenue Code; described in each of §170(b)(1)(A), §170(c), §2055(a), and §2522(a) of said Code.
Typical Forms of Will Bequests
Specific bequest - a gift of a specific dollar amount, or of specific property such as stocks, bonds, mutual funds, or real estate (such property described with particularity):
"I give the sum of _____dollars ($ _____) to The University of North Carolina at Greensboro (UNCG), identified by federal taxpayer identification number 56-6001468, an educational institution with its principal office located in Greensboro, North Carolina, for its general uses and purposes."
"I give all of my right, title, and interest in that certain parcel of real property described below to The University of North Carolina at Greensboro (UNCG), identified by federal taxpayer identification number 56-6001468, an educational institution with its principal office located in Greensboro, North Carolina, for its general uses and purposes, said real property more particularly described as follows:... [Insert the legal description from your deed here]."
Residuary bequest - a gift, usually expressed as a percentage, from the "rest, remainder, and residue" of your estate (that portion of your estate remaining after all other dispositions have been made):
"I give _____ % of my residuary estate to The University of North Carolina at Greensboro (UNCG), identified by federal taxpayer identification number 56-6001468, an educational institution with its principal office located in Greensboro, North Carolina, for its general uses and purposes."