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Bequest to Fitchburg State University

A bequest to Fitchburg State University in your will or trust is the most flexible planned gift you can make. Your assets remain available to meet your needs for your entire life. Finally the estate-based gift supports education at Fitchburg State and thereby improves life for others in the Commonwealth of Massachusetts.

Whether a gift of a specific amount or a percentage of your estate, for the general benefit of the university to meet its most pressing needs or a specific program through an endowed fund, your gift made at the end of life saves costs and taxes that may be imposed on estates. This kind of gift will benefit Fitchburg State and its students for years to come.

These recommendations of language to accomplish legacy contributions to Fitchburg State University should be included in your Last Will and Testament of Lifetime Trust – AND – these recommendations have even greater benefit when made as beneficiary designations of RETIREMENT PLAN ACCOUNTS, LIFE INSURANCE POLICIES AND TRANSFER ON DEATH DESIGNATIONS OF BANK ACCOUNTS.

There are four kinds of bequests:

Specific Bequest

A Specific Bequest names Fitchburg State University as the beneficiary of a specific amount.

Sample language: I give, devise, and bequeath to Fitchburg State University in Fitchburg, Massachusetts, the sum of $_____ (or a description of a specific asset), to be used for its general purposes as determined by the University’s Board of Trustees at the time of receipt. Or, for the following purpose: (state the purpose). If in the judgement of the Board of Trustees of Fitchburg State University it is impossible or impractical to carry out the designated purpose, they shall determine an alternative purpose closest to the designated purpose.

Residuary Bequest

A Residuary Bequest allows you to designate Fitchburg State University as the recipient of all or a portion of the residue of your estate after expenses and specific bequests are paid. Defining an end of life gift as a percentage preserves the overall philanthropic balance the donor formed when contemplating the distribution of their estate.

Sample language: I give and devise to the Fitchburg State University Foundation, located in Fitchburg, Massachusetts all, (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, and wherever situated to be used for its general support (or designate a specific fund or program).

Contingent Bequest

A Contingent Bequest enables you to name Fitchburg State University as an alternate beneficiary of all or of a portion of your estate, which means the university will receive the bequest only if your primary beneficiary or beneficiaries do not survive you.

Sample language: As a contingent remainder beneficiary in the event of no other potential distributions, I give to Fitchburg State University, in Fitchburg, Massachusetts, the residue of my estate to be used for its general purposes as determined by the Board of Trustees at the time of receipt.

Endowment Bequest

Endowment Bequests allow you to designate the annual distributions of your bequest to a specific purpose or project at Fitchburg State University.

Sample language: I give $_________ (or _________percent of my estate) to Fitchburg State University in Fitchburg, Massachusetts, to establish the "_____________ Endowed Fund." The principal of this Fund shall be retained, and income only called the “spending amount,” by the University shall be used, in accordance with the University's policies to provide support for “ ____________(the specific purpose or project).” If at any time in the judgment of the Trustees of Fitchburg State University, all or part of the spending amount  cannot be usefully applied to the above purpose, it may be used in a manner that the Trustees determine will best accomplish my original intent without seeking permission from a probate court if at all possible.

Note: Because the particular programs and needs of Fitchburg State University may change over time, the university must have the power to re-direct the use of your bequest as the stated purpose may cease to be appropriate. The minimum bequest to establish an endowment is $25,000. To help ensure that your gift can be used as you wish, please contact Alumni and Development to discuss your intentions.

Benefits of a Bequest:

  • A decrease in or elimination of estate taxes
  • The creation of a legacy, but you retain access to your assets during your lifetime
  • No need to rewrite your will; a simple supplement can add a bequest, and you can modify it at any time.
  • Membership in the Saxifrage Society

If you're planning to make Fitchburg State University one of your beneficiaries through a bequest, tell us! Once we have confirmation of your bequest, you'll be warmly welcomed into the Saxifrage Society and enjoy its benefits.

Please contact our professional fundraising staff. We are glad to work with you, your attorney and your financial planning team to craft language specific to your life-income needs and ultimate goals benefiting the university.