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Statement of Future Gift As evidence of my/our desire to provide a legacy of support to the University of Minnesota, I/we have made a provision for a gift to the University of Minnesota Foundation

How to fill out statement of future gift

How to fill out a statement of future gift:

1. Start by obtaining the necessary form: The statement of future gift form can typically be obtained from the organization or institution that will be receiving the gift. Check their website or contact their office to request the form.
2. Fill out your personal information: Begin by providing your complete name, mailing address, telephone number, and email address. This will ensure they have the necessary contact details to reach out to you if needed.
3. Specify the nature of the gift: Clearly indicate the type of gift you intend to make in the future. It could be a monetary donation, a real estate property, stocks and bonds, artwork, or any other assets you plan to give.
4. Include details about the beneficiary: State the name and contact information of the individual, organization, or institution that will receive the gift. Provide their full legal name, address, and any additional information that is required.
5. Mention any restrictions or conditions: If you have any specific instructions or conditions for the use of the gift, make sure to outline them clearly. For example, if you would like the donation to be used for a certain purpose, such as funding scholarships or supporting a particular program, specify it in this section.
6. Appoint an executor or trustee (if applicable): In some cases, you may want to designate someone to oversee the distribution of the gift. If so, provide the name, contact information, and any additional details required for the executor or trustee.
7. Review and sign the statement: Carefully review all the information you have provided in the statement of future gift. Ensure accuracy and completeness before signing the form. Make sure to date your signature as well.

Who needs a statement of future gift?

1. Donors planning their estates: Individuals who are including future gifts in their estate planning may need a statement of future gift. This document helps ensure that their intentions regarding donations are legally documented and can be carried out after their passing.
2. Nonprofit organizations: Nonprofit organizations or institutions that rely on charitable donations often require donors to submit a statement of future gift. This allows them to properly anticipate and plan for future contributions.
3. Financial advisors or estate planning attorneys: Professionals in the financial or legal field who are assisting clients with estate planning may need a statement of future gift to accurately document and manage the intended philanthropic contributions.

Remember, it is always advisable to consult with a legal or financial professional to understand the specific requirements and implications associated with filling out a statement of future gift.

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What is statement of future gift?

The statement of future gift is a legal document that outlines a promised gift to be given at a later date.

Who is required to file statement of future gift?

Individuals who have promised a gift to be given in the future are required to file a statement of future gift.

How to fill out statement of future gift?

The statement of future gift can typically be filled out online or by using a paper form provided by the relevant authorities.

What is the purpose of statement of future gift?

The purpose of the statement of future gift is to document the promised gift and ensure transparency in the giving process.

What information must be reported on statement of future gift?

The statement of future gift typically requires information about the donor, recipient, description of the gift, and the anticipated date of delivery.