A will is never just a legal document.  It is also a reflection of the values in which you believe.

At Hillsdale College we believe that the Western tradition embodies timeless truths.  As it says in our mission statement, "The College considers itself a trustee of modern man's intellectual and spiritual inheritance from the Judeo-Christian faith and Greco-Roman culture, a heritage finding its clearest expression in the American experiment of self-government under law."

We hope that you share this mission.  If you would like to help ensure its continuation, we invite you to consider a bequest to Hillsdale College.  To help you, we are providing the following information.

THE FIRST STEPS

You need to make two initial decisions before you can select the type of bequest you desire.

First, decide whether your gift will be "restricted" or "unrestricted" in usage.  With a restricted bequest you designate a specific program or activity at Hillsdale College that you wish to support.

With an unrestricted bequest, you permit the College's Board of Trustees to use your gift where the need is the greatest at the time the funds are received.

Next, determine whether or not you want your gift to be placed into Hillsdale's permanent endowment fund.  If the gift is placed in the College's endowment fund, only the income is available each year for the expressed purpose.

If a gift is not placed in the endowment fund, we refer to it as an "outright" gift, and the entire amount is available immediately.

Here are several illustrations of the above concepts:

A. An Unrestricted Outright Bequest

"This bequest is to be used to meet the needs of Hillsdale College as determined by its Board of Trustees."

B. A Restricted Outright Bequest

"This bequest is to be used by Hillsdale College to support the teaching of American History."

C. An Unrestricted Endowed Bequest

"This bequest is to be invested with and become a part of the endowment funds of Hillsdale College.  In accordance with policies set by Hillsdale College's Board of Trustees, the income from its investment shall be used for the College's general purposes."

D.  Restricted Endowed Bequest

"This bequest is to be invested with and become a part of the endowment funds of Hillsdale College.  In accordance with policies set by the Hillsdale College's Board of Trustees, the income from its investment shall be used to provide scholarships and/or loans to deserving students.”

CHOOSING THE TYPE OF BEQUEST

Once you have reached a decision regarding the first steps (above), you can now decide the type of bequest that is best.  The most common types of bequests include:

General Bequest:  This is a gift that is payable from the general assets of your estate.  The usual general bequest directs that a certain sum of money be paid to Hillsdale College.

Example:  "I direct that $_______ be transferred to Hillsdale College."

Specific Bequest:  This gives a particular item of real or personal property to Hillsdale College.

Example:  "I direct that 5,000 shares of XYZ corporation stock be transferred to Hillsdale College."

Residuary Bequest:  This provides Hillsdale with a remainder of your estate after all of your debts, expenses and taxes have been paid and all general and specific bequests satisfied.

Example:  "I direct that all (or a specific percent) of the rest, residue and remainder of my estate be given to Hillsdale College."

Contingent Bequest:  This makes Hillsdale College a beneficiary of your estate only when designated beneficiaries fail to survive you.

Example:  "If any of the above-named beneficiaries should predecease me, I direct that the share of that beneficiary be transferred to Hillsdale College."

FORMALIZE YOUR INTENTIONS

Once you have the details of your bequest in mind, you are ready to formalize your intentions.

This should be done by having a will prepared, or in some instances, by signing a codicil to your existing will.  This is best done by an attorney to ensure that your intentions are properly set forth.  If you do not have an attorney, we may be able to recommend one in your area for you to contact.