Sample Bequest Wording

The following includes several examples of suggested bequest wording to benefit Drexel University College of Medicine.

Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision with Drexel University College of Medicine to ensure that your wishes will be properly followed and recognized.

Percentage of estate for unrestricted purposes
I give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Directors of Drexel Medicine for the general purposes of Drexel Medicine, located in Philadelphia, Pennsylvania.

Percentage of estate for specific purposes with an endowment provision
I give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, _____ percent (%) of the rest, residue, and remainder of my estate to establish the ____________________ ENDOWED FUND. The principal of this Fund shall be invested as part of Drexel Medicine's permanent endowment and in accordance with its policies. The income therefrom is to be used by Drexel Medicine, located in Philadelphia, Pennsylvania, for____________________________________. Contributions may be added to the Fund at any time.

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the Drexe Medicine Board of Directors may redesignate the purpose for which the Fund's income may be distributed, provided that the Fund shall continue to bear the name ________________ ENDOWED FUND, and that the amended terms shall adhere as closely as possible to my original intent.

Specific amount for unrestricted purposes
I give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used at the discretion of the Board of Directors of Drexel Medicine for the general purposes of Drexel Medicine and its related entities.

Specific amount for specific purposes
I give, devise, and bequeath to The Philadelphia Health and Education Corporation (PHEC), doing business as the Drexel University College of Medicine ("Drexel Medicine"), a non-profit organization located in Philadelphia, Pennsylvania, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at Drexel Medicine.

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the Drexel Medicine Board of Directors may redesignate the purpose to adhere as closely as possible to my original intent.

To assist you with your plans, Drexel Medicine can provide sample language for the program or area you wish to support. This confidential service is available to you without obligation.

Designating the purpose of a bequest:

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by Drexel Medicine wherever the need is greatest.

Restricted: You may designate your bequest to support a special program or purpose that reflects your personal or professional interest (for example: scholarships, faculty research and development, or library acquisitions).

If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

"..... for so long as the Board of Directors of Drexel Medicine determines that the need exists. Should the need no longer exist, said Board of Directors may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."

Back