Planning for the future and creating the legacy you wish to leave is one of the most effective ways to ensure a lasting impact. Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures.
Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified. Below is suggested language to take to your attorney for use in drafting your bequest.
For an unrestricted gift that allows CalArts to determine how to use the funds based on the most pressing needs, use the following language for your will and/or trust:
"I give to California Institute of the Arts, a nonprofit corporation currently located at 24700 McBean Parkway, Valencia, CA 91355, or its successor thereto, _________ [written amount or percentage of the estate or description of property] for its unrestricted charitable use and purpose."
To designate your provision for a particular purpose:
"I give to California Institute of the Arts, a nonprofit corporation currently located at 24700 McBean Parkway, Valencia, CA 91355, or its successor thereto, _________ [written amount or percentage of the estate or description of property]. This gift should be used for (state purpose) if and so long as California Institute of the Arts determines that the need exists. If California Institute of the Arts shall determine at the outset or at a later time that the need does not exist, or no longer exists or for some reason it is not possible (or prudent) to administer my gift as originally intended, then California Institute of the Arts may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."
If you have named CalArts in your will or trust, please let us know so we can ensure that your gift is used according to your wishes. Notifying us of your plans will enable us to plan for the use of your future gift. However, if you prefer to remain anonymous, we will keep your name and gift in strict confidence.
Please contact Emily Wells at (661) 253-7708 or email@example.com for more information.