Sample Will Language to Create an Endowment
I hereby give, devise, and bequeath $____________________ (or _____ percent of my residual estate) in cash, securities or other property to the Texas State University-San Marcos.
This gift shall be used to create the (Name) as a permanent endowment for the benefit of the (College). Funds distributed from the endowment shall be used to provide (Purpose).
These endowment funds may be merged or comingled with other funds held by Texas State University-San Marcos for investment purposes, in accordance with the policies and procedures of the university. Funds distributed from the endowment in a year may be retained and expended for the purposes of the endowment in subsequent years and a portion may be designated, at the discretion of the President and the Vice President of Finance and Support Services, as a permanent addition to the principal of the endowment.
endowment shall never become a part of the General Fund of the State of
As with any decision involving your assets, we urge you to seek the advice of your professional counsel when considering a gift to Texas State University-San Marcos.