Skip Menu

Return to Skip Menu

Main Content

Bequests

Change the World Without Changing Your Lifestyle

You create a bequest by including a gift for the university in your will or revocable trust. The university may be your only beneficiary or one of many. You can even use your bequest to take care of loved ones first, and pass your gift to the university only after the death of your survivors.

After you create your bequest, you continue to have full lifetime control of your assets and can adjust your gift at any time during your life. You are free to change the amount of your gift, how you wish it to be used, or any other detail of your bequest, should you decide to do so.

No estate taxes apply to your charitable bequest.

Choose a bequest that fits your goals

Your attorney can help you consider what type of bequest fits your overall estate plan, family commitments, and charitable goals. Here are some common types of bequests.

  • Specific bequest: Create a gift of a specific dollar amount or specific asset. Click here for sample language for this type of bequest.
  • Percentage bequest: Create a gift of all or a percentage of the remainder of the estate after all specific bequests and expenses related to the estate have been paid. A percentage bequest is sometimes called a residuary bequest. Sample language is available here.
  • Contingent bequest: Make a gift to the university only in the event of the death of other named beneficiaries. Click here for sample language for this type of bequest.
  • Testamentary trust: Combines multiple goals and long-term asset management, usually giving lifetime income to family members and the trust remainder to Virginia Tech. Your attorney can craft trust language to meet your specific needs.

Sample bequest language

It is important that your will or trust document say that you are making your bequest to “The Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University." Below are samples of bequest language that may prove useful to you. These are examples only, and should be used with the advice and assistance of your attorney.

  • Specific bequest: "I leave _________ (cash, securities, real estate, artwork, etc.) to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.)."
  • Percentage of estate clause: “I leave _______ percent (____%) of my estate to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.).”
  • Rest and residue clause: “After my specific bequests have been fulfilled, I give, devise, bequeath and appoint all the rest and residue of my estate, wheresoever situated and of whatever nature, to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.).”
  • Contingency provision clause: “In the event my (spouse, daughter, son, friend - full name) shall predecease me, I leave their share to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This share shall be used for the (named scholarship, professorship, unrestricted, etc.).”

Questions?

If you or your attorney have questions, or if you wish to use your bequest to establish an endowment or to support a particular area or initiative at Virginia Tech, please e-mail giftplanning@vt.edu, call 800/533-1144 or 540/231-2813, or contact a development officer for the area you wish to support.


    Give to Virginia Tech

Gift planning questions?

We’re here to help. Phone 800-533-1144 or 540-231-2801. Or email giftplanning@vt.edu.


Inspire Others

Let us know about your bequest or other future gift provision.