Support & Involvement > Make a Gift > Planned Giving > Will Bequests

Bequests of any size are an important source of support for Louisville Seminary. They provide funds for scholarships, academic chairs, improving physical facilities, and they help increase the Seminary’s general endowment. The provisions in your Will for making a gift to the Seminary will depend upon the type of gift you want to leave and your personal or family circumstances.

How does one figure up how much to leave a charity, in this case Louisville Seminary?

Some will consider a lump sum; for example, $100,000.  Another approach is to leave a percentage of one’s estate.  This approach enables you to identify the relative importance of a charity in your overall philanthropic intentions that also enables your gift to be in direct proportion to the total estate at any given time.  For example, if you wish to leave 50% of your estate, which is now valued at $500,000, your life gift will be $250,000.  At the time of your death, your estate may have grown to $1,000,000.  By giving a percentage, your gift will ultimately have doubled.

For the guidance of attorneys preparing wills and trusts containing provisions for the Seminary:  the sole agent authorized to receive private gifts is Louisville Presbyterian Theological Seminary, Louisville, Kentucky. The Seminary is chartered under the laws of the Commonwealth of Kentucky.  The Seminary’s EIN number, or Federal Tax ID, is 61-0444768.

The following are suggestions regarding wording for your bequests to Louisville Seminary.  You will always want to consult an attorney and/or financial advisor regarding your situation.

A GENERAL BEQUEST

"I give to Louisville Presbyterian Theological Seminary, located in Louisville, Kentucky, _____ % (or the sum of $ ______) of my estate or the property described herein) for its general purposes."

A DESIGNATED BEQUEST

"I give to Louisville Presbyterian Theological Seminary, located in Louisville, Kentucky, _____ % (or the sum of $ ______) of my estate or the property described herein) to be used...(e.g., to establish a named scholarship fund or for a specific program or purpose decided upon in advance in consultation with a qualified representative of the Seminary)."

A RESIDUARY BEQUEST

"All the rest, residue, and the remainder of my estate, both real and personal, I give to Louisville Presbyterian Theological Seminary, located in Louisville, Kentucky, for its general purposes or to be used for...".

A CONTINGENT BEQUEST

"I devise and bequeath the residue of the property owned by me at my death, both real and personal, and whatever situate, to my wife (husband), _____, if she(he) survives me. If my wife (husband) does not survive me, I devise and bequeath my residuary estate to Louisville Presbyterian Theological Seminary, located in Louisville, Kentucky, for its general purposes or to be used for...".

A BEQUEST TO A CHARITABLE TRUST

A Testamentary Charitable Trust or Annuity may be set up to provide income for a dependent or a friend with the principal going to Louisville Seminary on the survivor's death. Sample forms to help your attorney draft this are available upon request.

One final suggestion: No one can anticipate the institutional changes and developments that may occur at Louisville Presbyterian Theological Seminary or in theological education and the Church in the future. In order to ensure that your bequest will always be of optimal use to the Seminary, we ask that you consider using a savings clause in your Will. Such a clause may read as follows: "If at any time, at the discretion of the Board of Trustees of Louisville Presbyterian Theological Seminary, this bequest shall no longer be necessary for the stated purpose, the Trustees shall have the authority to designate its use for another purpose that may carry out the general nature of the bequest’s original intention."

For additional information on creating a life gift for Louisville Seminary, please contact:

Dale Melton
Vice President of Seminary Relations
Louisville Presbyterian Theological Seminary
1044 Alta Vista Road
Louisville, KY 40205
502.992.9347; 502.572.7822
dmelton@lpts.edu