Bequests to Lake Superior State University provide funding to strengthen academic and athletic programs, support building campaigns, provide scholarship assistance to deserving students and support the Laker Athletic program.
By providing for the University in your will or living trust, your assets are not diminished during your lifetime and taxes owed by your estate may be reduced by the amount of the gift.
Bequests can be:
A specific dollar amount
A percentage of your estate
The residual of your estate
A contingent bequest
To ensure your gift intent, it is very important that the appropriate bequest wording is used. If you prefer your bequest to be used for a specific purpose within the university (i.e. scholarships, academic program, Athletics, etc.), it is known as a restricted bequest.
The following are examples of general bequest statements:
To bequeath a specific dollar amount:
“I bequeath to the Lake Superior State University Foundation, Sault Ste. Marie, Michigan the sum of ______ Dollars ($ ), to be used to meet the mission and vision of LSSU and as its Trustees may determine.”
To bequeath a percentage of the estate:
“I bequeath to Lake Superior State University Foundation, Sault Ste. Marie, Michigan ______% of my estate, to be used to meet the mission and vision of LSSU and as its Trustees may determine.”
To bequeath the residue of the estate:
“I bequeath the residue and remainder of my estate, both real and personal, to Lake Superior State University Foundation, Sault Ste. Marie, Michigan to be used to meet the mission and vision of LSSU and as its Trustees may determine.”
A contingency gift:
“I bequeath the residue of the property owned by me at my death, real and personal, to PERSON’S NAME if he or she survives me. If PERSON’S NAME does not survive me, I bequeath my residuary estate to Lake Superior State University Foundation, Sault Ste. Marie, Michigan to be used to meet the mission and vision of LSSU and as its Trustees may determine.”
Please consult with your attorney or estate plan advisor so that the bequest language meets your estate planning goals.
For more information, contact the LSSU Foundation office at 906-635-2665 or email foundation@lssu.edu
The Lake Superior State University Foundation was founded in 1983 and makes its home at the Lukenda Alumni House, one of the original Fort Brady Row Houses at the eastern end of campus. The Foundation oversees a vast amount of scholarship activities, events and other philanthropic activities to help educate the public on various ways to give to Lake Superior State University.
Lake Superior State University Foundation
650 W. Easterday Ave
Sault Ste. Marie, MI 49783
