Planned Giving

One Charitable Gift, A Lifetime of Benefits

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The University of Texas at El Paso's Sample
Bequest Language

I give, devise and bequeath _________ to the Board of Regents of The University of Texas System ("Board of Regents") for the use and benefit of The University of Texas at El Paso ("UTEP").

Option A - Gift for General Use

This gift shall be used in support of (state purpose). These funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas and shall never be subject to appropriation by the Legislature of the State of Texas.

Option B - Gift to Create an Endowment

This gift shall be used to create the (name of endowment**) as a permanent endowment for the ( name of appropriate College, School and/or Department). Funds distributed from the endowment shall be used to (state purpose).

Such funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas, and shall never be subject to appropriation by the Legislature of the State of Texas. These funds and all future additions to the endowment, including those made by the Board of Regents or UTEP administration, shall be subject to these provisions and shall be classified as permanent endowment funds. If, in the opinion of the Board of Regents, future circumstances change so that the purpose for which this endowment is established becomes illegal, impracticable, or no longer able to be carried out to meet the needs of UTEP, said Board of Regents may designate an alternative use for the endowment payout in accordance with applicable state law to further the objective of UTEP, in the spirit of the original purpose of the endowment.

These endowment funds may be merged or commingled with other funds held by the Board of Regents for investment purposes in accordance with the policies of the Board of Regents. The Board of Regents may not charge certain expenses against the endowment funds for administration and management. Funds distributed from the endowment in a year may be retained and expended for the purposes of the endowment in subsequent years, or may be reinvested, at the discretion of the Board of Regents or UTEP administration, as a permanent addition to the principal of the endowment.

PLEASE CONSULT YOUR LEGAL AND/OR TAX COUNSEL BEFORE DRAFTING ANY LEGAL INSTRUMENT

ADDENDUM TO SAMPLE LANGUAGE FOR BEQUESTS

Some items commonly addressed in this area are:

  1. A fixed dollar amount
  2. A percentage of an estate (i.e., 10%, 25%)
  3. A percentage or parcel of land or real estate (Please give as specific a description of the property as possible.)
  4. Other tangible asset (i.e., securities, collection of art, private library, etc.)

Endowments may be set up naming the donor or an honoree with or without the purpose included in the name:

  1. Mr. and Mrs. John Doe Endowed Scholarship
    John and Jane Doe Endowed Engineering Scholarship
    John Smith, M.D. Endowed Presidential Scholarship
  2. John and Jane Doe Endowed Professorship for English Literature
    Jane Doe Endowed Fellowship for Research of Ancient Languages
    Dr. Jane Doe Endowed Chair

The preceding are examples only and intended to show various ways that endowments are titled. They are not to be interpreted as the only language accepted. For more information or clarification, and for information on the minimum funding required for certain endowments, please call the main Development Office of the specific UT institution to which the gift will be made.

PLEASE CONSULT YOUR LEGAL AND/OR TAX COUNSEL BEFORE DRAFTING ANY LEGAL INSTRUMENT

SAMPLE LANGUAGE FOR SPECIFIC BEQUEST OF REAL PROPERTY

I give, devise and bequeath to the Board of Regents of The University of Texas System ("Board of Regents") for the use and benefit of The University of Texas at El Paso ("UTEP") all of my interest in and to real property and improvements located in [Name of County], Texas, being a part of [ legal description here]. My Independent Executor shall have the power and discretion to sell such property and distribute the net proceeds therefrom to the Board of Regents for the use and benefit of UTEP in lieu of such property in satisfaction of this bequest.

Option A - Gift for General Use

This gift shall be used in support of [state purpose]. These funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas and shall never be subject to appropriation by the Legislature of the State of Texas.

Option B - Gift to Create an Endowment

This gift shall be used to create the [Name of Endowment] as a permanent endowment for the [name of College/School or Department] at UTEP. Funds distributed from the endowment shall be used to [ state purpose].

Such funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas, and shall never be subject to appropriation by the Legislature of the State of Texas. These funds and all future additions to the endowment, including those made by the Board of Regents or UTEP administration, shall be subject to these provisions and shall be classified as permanent endowment funds. If, in the opinion of the Board of Regents, future circumstances change so that the purpose for which this endowment is established becomes illegal, impracticable, or no longer able to be carried out to meet the needs of UTEP, said Board of Regents may designate an alternative use for the endowment payout in accordance with applicable state law to further the objective of UTEP, in the spirit of the original purpose of the endowment.

These endowment funds may be merged or commingled with other funds held by the Board of Regents for investment purposes in accordance with the policies of the Board of Regents. The Board of Regents may not charge certain expenses against the endowment funds for administration and management. Funds distributed from the endowment in a year may be retained and expended for the purposes of the endowment in subsequent years, or may be reinvested, at the discretion of the Board of Regents or UTEP administration, as a permanent addition to the principal of the endowment.

PLEASE CONSULT YOUR LEGAL AND/OR TAX COUNSEL BEFORE DRAFTING ANY LEGAL INSTRUMENT

Contact Us


Please contact us if you have any questions about how to make a bequest to The University of Texas at El Paso or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

If you have included a bequest for The University of Texas at El Paso in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.

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