Bequests and Trusts

Loyola Marymount University has benefited greatly through the generosity of many alumni and friends who have included the university in their wills and trusts. For many donors, a testamentary gift is the most realistic method of making a significant contribution to the university.

Any type of property, including cash, securities, real estate, works of art and jewelry, among others, may be given to Loyola Marymount University through your will or through a provision in your trust. Alternatively, you might wish to leave the university a percentage of your estate.

If you have already drawn your will, a simple codicil may be added to provide a gift to Loyola Marymount University. At the same time, it might be prudent to have your will reviewed and updated to accommodate recent changes in estate tax laws or your own family situation. If you do not currently have a will, you should consider having one drafted to ensure that your estate is distributed according to your wishes, rather than the laws of distribution of your state of domicile.

When making or revising your will, you should always obtain the assistance of a lawyer. LMU's Office of Gift Planning will be pleased to work with you and your lawyer to design an estate plan specifically tailored to your needs. The following represents examples of bequests to LMU.

If you or your attorney would like further information, please contact:
Cheryl Mott Smith
310.338.1862
Fax: 310.338.7812
cheryl.smith@lmu.edu

Loyola Marymount University
1 LMU Drive Suite 2800
Los Angeles, CA 90045-2659

Outright Bequest in Will
Unrestricted

1) Specific dollar amount:
"I give to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, the sum of __________Dollars ($________), to be used for the general purposes of the University (or a specific School, College or Program). LMU’s EIN is 95-1643334."

2) Specific property (tangible personal property):
"I give describe property Loyola Marymount University, a California nonprofit corporation, located at 1 LMU Drive, Los Angeles, California, 90045- 2659, to be used or disposed of for the benefit of the University (or a specific School, College or Program). LMU’s EIN is 95-1643334.”

3) Specific property (real estate):
"I give and devise all of my right, title and interest in and to the real estate to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, to be used or disposed of as said University, in its sole discretion, deems appropriate. LMU’s EIN is 95-1643334.”

Residuary Bequest

I give and devise (all) (______percent) of the residue of all the property, of whatever kind and wherever located, that I own at my death to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, for the benefit of the University (or a specific School, College or Program). LMU’s EIN is 95-1643334.”

Contingent Bequest

"If any of the beneficiaries named in this will are not living on the thirtieth day after my death, I direct that his or her share of my estate be given to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, for the benefit of the University (or a specific School, College or Program). LMU’s EIN is 95-1643334.”

Contingent Bequest

"If my wife (husband) ____________ is not living on the thirtieth day after my death, I direct that her (his) share of my estate shall be given to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, to be designated for the (School, College or Program) at said Loyola Marymount University in her (his) memory. LMU’s EIN is 95-1643334.”

Restricted Gifts

Of course, some people prefer to direct that their gift be used for a particular specified purpose. Any of the above provisions can be restricted in this way.

Specific Dollar Amount
"I give to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, the sum of ____________Dollars ($______) to be used to establish the _____________(Endowed Fund, Endowed Scholarship Fund) for the benefit of the (School, College or Program). LMU’s EIN is 95-1643334.”

Residuary Bequest
"I give and devise (all) (______percent) of the residue of all the property, of whatever kind and wherever located, that I own at my death to Loyola Marymount University, a California non-profit corporation, located at 1 LMU Drive, Los Angeles, California, 90045-2659, to be establish the ______________________________ Fund for the benefit of the (School, College or Program). LMU’s EIN is 95-1643334.”

In the event that you choose to include a restriction in your bequest, it is best to have Loyola Marymount University review the language to ensure that your wishes will be understood and followed accurately. In addition, we request that you include the following provision:

“If, in the judgment of Loyola Marymount University, it becomes or is likely to become impossible or impractical to accomplish the purpose of this gift, the income and/or principal of this bequest may be used for such related purposes and in such manner as determined by said Loyola Marymount University for the benefit of its (School, College or Program).”