Suggested Wording for Wills and Trusts

These are only suggested forms, and variations may be advisable. Under any circumstances, these forms should be used only with the advice of an attorney.

A. Wills

1. Unrestricted Bequest:

 “I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property) for the benefit of the University of Arkansas at Little Rock.‚ÄĚ

OR

‚ÄúI give, devise and bequeath to The University of Arkansas Foundation, Inc.,¬†¬†shares of XYZ Corporation common stock, for the benefit of the University of Arkansas at Little Rock.‚ÄĚ


2. Designated Bequest:

“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) for the benefit¬†of the (college, school, department, division, project or program) at¬†the University of Arkansas at Little Rock.‚ÄĚ


3. Bequest Restricted as to Purposes:

“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) for the benefit of the University of Arkansas at Little Rock, to be used for the following purposes:
¬†(set forth purpose or purposes).‚ÄĚ

OR

“to be used in accordance with a memorandum of understanding dated
on file with The University of Arkansas Foundation, Inc.‚ÄĚ
(Memorandum of understanding should be in existence at time will is signed.)


4. Bequest to Establish an Endowed Fund:

“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) to be used to¬†establish The John Doe Endowed (professorship, scholarship, fellowship,¬†chair, etc.) Fund for the benefit of the College (or School) of ¬†¬†at the University of Arkansas at Little Rock, with the income only to be used for said purpose.‚ÄĚ

OR

“with the income only to be used in accordance with a memorandum of understanding dated
on file with The University of Arkansas Foundation, Inc.‚ÄĚ
(Memorandum of understanding should be in existence at time will is signed.)

5. Bequest to Add to an Existing Endowed Fund:

“I give, devise and bequeath to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) to be added to¬†The John Doe Endowed (professorship, scholarship, fellowship, chair,¬†etc.) Fund for the benefit of the College (or School) of¬†at the University of Arkansas at Little Rock, with the income only to be used therefor.‚ÄĚ


6. Residual Bequest ‚Äď Unrestricted:

‚ÄúI give, devise and bequeath all of the rest of my estate (or ¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† ¬†percent¬†of the rest of my estate) to The University of Arkansas Foundation,¬†Inc., for the benefit of the University of Arkansas at Little Rock.‚ÄĚ

7. Residual Bequest ‚Äď Designated:

‚ÄúI give, devise and bequeath all of the rest of my estate (or ¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† ¬†percent¬†of the rest of my estate) for the benefit of the (college, school,¬†department, division, project or program) at the University of Arkansas¬†at Little Rock.‚ÄĚ

8. Residual Bequest ‚Äď Restricted:

“I give, devise and bequeath all of the rest of my estate (or                      percent of the rest of my estate) for the benefit of the University of Arkansas at Little Rock, to be used for the following purposes:
(set forth purpose or purposes).‚ÄĚ

9. Contingent Provision:

‚ÄúIf¬†any of the above beneficiaries should predecease me, then I give the¬†property, real or personal, that each such beneficiary would have¬†received had he (or she) survived me, to The University of Arkansas¬†Foundation, Inc., for the benefit of the University of Arkansas at¬†Little Rock.‚ÄĚ

 

B. Trusts

1. Unrestricted Provision:

“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property) for the benefit of the University of Arkansas at Little Rock.‚ÄĚ

OR

‚ÄúTrustee shall distribute to The University of Arkansas Foundation, Inc., ¬†shares of XYZ Corporation common stock, for the benefit of the University of Arkansas at Little Rock.‚ÄĚ

2. Designated Provision:

“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) for the¬†benefit of the (college, school, department, division, project or¬†program) at the University of Arkansas at Little Rock.‚ÄĚ

3. Provision Restricted as to Purposes:

“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) for the benefit of the University of Arkansas at Little Rock, to be used for the following purposes:
(set forth purpose or purposes).‚ÄĚ

OR

“to be used in accordance with a memorandum of understanding dated
on file with The University of Arkansas Foundation, Inc.‚ÄĚ

4. Provision to Establish an Endowed Fund:

“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) to be used¬†to establish The John Doe Endowed (professorship, scholarship,¬†fellowship, chair, etc.) Fund for the benefit of the College (or¬†School) of¬†¬†at the University of Arkansas at Little Rock, with the income only to be used therefor.‚ÄĚ

OR

“with the income only to be used in accordance with a memorandum of understanding dated
on file with The University of Arkansas Foundation, Inc.‚ÄĚ

5. Provision to Add to an Existing Endowed Fund:

“Trustee shall distribute to The University of Arkansas Foundation, Inc., the sum of $
dollars (or the following described property or assets) to be¬†added to The John Doe Endowed (professorship, scholarship, fellowship,¬†chair, etc.) Fund for the benefit of the College (or School) of¬†¬†at the University of Arkansas at Little Rock, with the income only to be used therefor.‚ÄĚ

6. Residual Provision ‚Äď Unrestricted:

‚ÄúTrustee shall distribute the remainder of the trust estate (or ¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† ¬†percent¬†of the remainder of the trust estate) to The University of Arkansas¬†Foundation, Inc., for the benefit of the University of Arkansas at¬†Little Rock.‚ÄĚ

7. Residual Provision ‚Äď Designated:

‚ÄúTrustee shall distribute the remainder of the trust estate (or ¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† ¬†percent¬†of the remainder of the trust estate) for the benefit of the (college,¬†school, department, division, project or program) at the University of¬†Arkansas at Little Rock.‚ÄĚ

8. Residual Provision ‚Äď Restricted:

“Trustee shall distribute the remainder of the trust estate (or                    percent of the remainder of the trust estate) for the benefit of the University of Arkansas at Little Rock, to be used for the following purposes:
(set forth purpose or purposes).‚ÄĚ

9. Contingent Provision

‚ÄúIf¬†any of the above beneficiaries should predecease the settlor, then¬†trustee shall distribute the property, real or personal, that each such¬†beneficiary would have received had he (or she) survived settlor, to¬†The University of Arkansas Foundation, Inc., for the benefit of the¬†University of Arkansas at Little Rock.‚ÄĚ

 

C. Changed Conditions


If the will bequest or trust provision is for a limited or restricted purpose, it is suggested that the following clause be inserted:

“If the Department of
 in the College of
ceases to exist and all or part of these funds cannot be used
as originally intended, the Chancellor of the University of Arkansas at¬†Little Rock may redirect the funds for use in programs that are as¬†closely compatible with my original intent as possible and that are in¬†the best interests of the University of Arkansas at Little Rock.‚ÄĚ

These are only suggested forms, and variations may be advisable.  Under any circumstances, these forms should be used only with the advice of an attorney.