Outright Bequest, Restricted as to Purpose:
"I give, devise, and bequeath (insert dollar amount or percent of estate) to The University of Southern Mississippi Foundation, a not-for-profit corporation organized and existing under the laws of the State of Mississippi or its successor organization. The amount of this bequest will be used to create the (Name of Endowment) Fund and shall be held in perpetuity with the spendable income therefrom to be utilized for [description of restricted purpose - ex. scholarships; faculty support, etc; to benefit a specific University school, college, or department]. If the amount realized from the bequest does not meet the minimum level required to establish an endowment, this bequest will be utilized for a similar purpose through a non-endowed fund."
Outright Bequest, Unrestricted as to Purpose:
"I give, devise, and bequeath (insert dollar amount or percent of estate) to The University of Southern Mississippi Foundation, a not-for-profit corporation organized and existing under the laws of the State of Mississippi or its successor organization. The amount of this bequest will be used at the discretion of the Executive Committee of the Foundation's Board of Directors."
Codicil to Last Will and Testament, Restricted as to Purpose:
"I hereby amend my last will and Testament, executed on the ____ day of _______________, in the year _______. I direct that all provisions of the Will remain in effect, but in addition I give, devise, and bequeath (insert dollar amount or percent of estate) to The University of Southern Mississippi Foundation, a not-for-profit corporation organized and existing under the laws of the State of Mississippi or its successor organization. The amount of this bequest will be used to create the (Name of Endowment) Fund and shall be held in perpetuity with the spendable income therefrom to be utilized for [description of restricted purpose - ex. scholarships; faculty support, etc; to benefit a specific University school, college, or department]. If the amount realized from the bequest does not meet the minimum level required to establish an endowment, this bequest will be utilized for a similar purpose through a non-endowed fund."
Codicil to Last Will and Testament, Unrestricted as to Purpose:
"I hereby amend my last will and Testament, executed on the ____ day of _______________, in the year _______. I direct that all provisions of the Will remain in effect, but in addition I give, devise, and bequeath (insert dollar amount or percent of estate) to The University of Southern Mississippi Foundation, a not-for-profit corporation organized and existing under the laws of the State of Mississippi or its successor organization. The amount of this bequest will be used at the discretion of the Executive Committee of the Foundation's Board of Directors."
Note: By furnishing these paragraphs, The University of Southern Mississippi Foundation does not intend to give legal advice. We strongly encourage those interested in drafting a will to seek competent legal counsel experienced in will draftsmanship.