Winter 2008 - Virginia State University

24DEVELOPMENT NEWSWhat Your Will Reveals About YouYour will says something about you. First, it says that youcare about your loved ones. You want to make it easierfor them by taking care of legal matters relating to thetransfer of your estate. You want your affairs handledsmoothly and without undue inconvenience to thosewho will be experiencing grief.Second, having a will means that you have sought toconserve your estate. You can reduce taxes and probatecosts by designating what things will go where and whowill be responsible for handling the details. The costsavings resulting from a carefully constructed estateplan means that more of your estate can go to familymembers and other beneficiaries.Third, your will provides insight into your lifetimeinvolvements and concerns. Bequests to familymembers tell of your love and concern for their welfare.And bequests to organizations speak volumes aboutyour values.For example, when you include Virginia StateUniversity in your will, you reveal that caring for othersis worthwhile and you declare your belief in the missionof the University. Such action encourages those you leavebehind to consider how they can help those in need.Finally, when you include VSU in your will, you affirmthat you want us to continue to fulfill the mission ofVirginia State University in this world. You reveal yourvision for our future! You encourage us to be goodstewards of the new resources you place in our hands.Your will says other things as well about your interestsand values and commitments. And because it says somuch, you are wise to think it through carefully.If having a will says so many good things about you,what does the absence of a will reveal?We in the VSU Office of Development want you toexperience the good feelings of having a wellconsideredand well-crafted will. We encourage you totake care of this very important matter.If you already have a will, a bequest to VSU can be madesimply by adding a codicil that includes the followinglanguage: I hereby give, devise, and bequeath to VirginiaState University. . .1. SPECIFIC BEQUEST: the sum of $____________ (or, the property described as __________________________);OR,2. RESIDUAL BEQUEST [of assets remaining after all other bequests have been satisfied]:a.) the rest, remainder, and residue of my estate; OR,b.) _______% of the rest, remainder, and residue of my estate.3. CONTINGENT BEQUEST [to take effect only if those named as primary beneficiaries predecease you]: If anyor all of the above-named beneficiaries do not survive me, then I hereby give the share that otherwise wouldbe (his/hers/theirs) to Virginia State University; OR,4. GENERAL BEQUEST: the sum of $____________, OR _______% (fractional interest) of my estate.VIRGINIA STATE UNIVERSITY