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Wills and Estate Plans

A carefully prepared will or estate plan is the best way to ensure that your loved ones are provided for after your death and that your preferred charities are supported as you intend. This form of giving may also allow you to make a more significant and meaningful gift than you could manage in your lifetime. Wills and estate plans are technical documents that should be drafted by an attorney, but they may be revised and updated whenever you like.

Types of Estate Gifts

Your bequest can take a variety of forms. Here are a few samples for you to consider:

Specific Bequest

The most popular type of charitable bequest, a specific bequest provides that the School of Medicine receive a specific dollar amount, percentage of your estate or piece of property.

Residuary Bequest

A residuary bequest provides that the School of Medicine receive all or a stated portion of your estate after all other bequests, debts, taxes and expenses have been distributed.

Contingent Bequest

If circumstances make it impossible to carry out your primary provisions (as when your spouse or other heirs do not survive you), a contingent bequest can ensure that your assets will then pass to the IU Foundation for the benefit of the School of Medicine, rather than to unintended beneficiaries.

Trust Under Will

You can bequeath a portion of your estate to be held in trust for a specified purpose, as stated in your will.

Bequest Language

The Indiana University Foundation has been designated the official entity for receiving and administering gifts for the School of Medicine. In order to ensure your gift is properly received, please incorporate the following language into your will:

“I give, devise and bequeath the (sum of/percentage of/residue of my estate) to Indiana University Foundation, a not-for-profit corporation with principal offices located in Bloomington, Indiana, to be utilized for the benefit of the Indiana University School of Medicine as specified in a gift agreement on file at said Foundation.”

Appreciation and Recognition

If you decide to include a gift to benefit the School of Medicine in your will or estate plan, we encourage you to let us know about your decision ahead of time for several reasons. First, this allows you to complete a gift agreement that ensures your gift is used for the purpose you intend. Second, the School of Medicine and the IU Foundation can make note of the gift as we plan for the future. And finally, the School of Medicine would like to recognize your generosity and show our appreciation.

1110 West Michigan St. LO506 | Indianapolis, IN 46202 | Ph: (317) 274-3270 or (800) 643-6975 | Fax: (317) 278-2118