Skip to Main Content

Wills and Bequests

A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to the South Dakota Mines CARA as part of your estate plan. The benefits of making a bequest include leaving a lasting legacy, lessening the tax burden on your estate, and impacting the lives of others through your gift.

Types of Bequests

  • Specific Bequest-A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to CARA.
  • Percentage Bequest-Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to CARA.
  • Residual Bequest-A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to CARA.
  • Contingent Bequest-A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home would go to CARA.
  • Restricted Bequests-
    • If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
    • If you are making a restricted bequest, we recommend that your attorney include a provision to give CARA flexibility should it no longer be possible for us to use your gift as you originally intended (see sample bequest language).

VIEW SAMPLE BEQUEST LANGUAGE

REQUEST MORE INFORMATION

Mines Advancement Fund

The Mines Advancement Fund supports the greatest needs of our students and faculty, including scholarships, department resources, facilities updates, industry partnerships, and more. With every dollar gifted to the Mines Advancement Fund, the Center for Alumni Relations & Advancement raises an average of $9 more to support departments, scholarships, and programs. 
 
Consider designating your gift to the Mines Advancement Fund to maximize your influence at South Dakota Mines.