To make a gift to Lourdes University from your estate, you will need to sign a new will or add a codicil to your present will. A bequest to Lourdes University may be designated as a specific amount or a percentage of your estate. Alternatively, you may name Lourdes University the residual beneficiary of your estate.
A last will and testament is subject to law through the processes of probate. Therefore, it should be properly drawn by a competent attorney. It should be prepared to apply an individual's (testator's) objectives specifically to his or her property and circumstances. A will has jurisdiction over all the property owned by and titled to the testator. Property jointly owned will pass by title regardless of the terms of a will. Contractual provisions, designated beneficiaries of insurance benefits, trusts, and similar provision will pass as specifically designated, regardless of the terms of a will. Therefore, a will should be carefully coordinated with forms of ownership and all other estate planning instruments that may be in effect. A will must be properly executed. The testator must sign and the signature must be properly witnessed and attested.
To include Lourdes University in your last will and testament, the bequest should read:
- "I hereby give, devise, or bequeath to Lourdes University" followed by a description of property to be given in specific kinds, percentages, number of dollars or remainders.