1. 1. It is important to consider what goals you want to accomplish through your estate plans. Consult with an attorney who specializes in estate planning to assist you in establishing a plan that will meet your goals and needs.
   2. Testamentary gifts to Sigma Chi should be directed to the Sigma Chi Foundation to receive the full benefit of your bequest under current law.
   3. Determine if your bequest will be specific or residuary.
      • A specific bequest is a stated dollar amount or percentage of the estate. Specific bequests help assure that your intended gift passes to the Foundation rather than unintended beneficiaries after all primary beneficiaries have died.
      • A residuary bequest will give the Foundation all or a portion of the estate after all taxes, debts, expenses, and all other bequests have been paid.
   4. Decide if your gift will be unrestricted or restricted.
      • Unrestricted gifts to the Sigma Chi Foundation support leadership development and scholarship opportunities for our undergraduate members, help us grow the endowment, and support operations.
      • Restricted gifts to the Sigma Chi Foundation should include the stated purpose(s) of the gift. The purpose(s) must be in compliance with the educational purposes and policies of the Sigma Chi Foundation. The Foundation reserves the right to refuse a restricted gift.

The following is sample language that can be used based on how you wish to structure your unrestricted gift:

1. 1. Percentage:
      “I give, devise, and bequeath to the Sigma Chi Foundation, a 501 (c) (3) charitable and educational Corporation (Federal I.D. #36-2208386) incorporated in the State of Colorado, _____% of my estate for its unrestricted use and purpose.”
   2. Specific:
      “I give, devise, and bequeath to the Sigma Chi Foundation, a 501 (c) (3) charitable and educational Corporations (Federal I.D. #36-2208386) incorporated in the State of Colorado, [Choose one of the following], for its unrestricted use and purpose.”
      

      Option 1: the sum of $__________ 
      Option 2: ________ shares of stock in ___________ Company

   3. Residual:
      “I give, devise, and bequeath to the Sigma Chi Foundation, a 501 (c) (3) charitable and educational Corporation (Federal I.D. #36-2208386) incorporated in the State of Colorado, all the residue of my estate, including real personal property, for its unrestricted use and purpose.”
   4. Contingent:
      “In the event of the death of any of my beneficiaries, I give, devise, and bequeath to the Sigma Chi Foundation, a 501 (c)(3) charitable and educational Corporation (Federal I.D. #36-2208386) incorporated in the State of Colorado, [percentage, specific, or residual language as listed above] for is unrestricted use and purpose.”

The following is sample language that can be used for a restricted gift:
“I give, devise, and bequeath to the Sigma Chi Foundation, a 501 (c)(3) charitable and educational Corporation (Federal I.D. #36-2208386) incorporated in the State of Colorado, [percentage, specific, or residual language as listed above] for [stated purpose (chapter and/or program)].”

A cautionary note about restricted gifts: Oftentimes, donors want their gift to support a specific program for members of a specific chapter. If you are considering restrictions on the Foundation’s use of your gift, please keep in mind that programs that exist today may not exist in the future, and even the strongest chapter today may become inactive in the future. Therefore, we suggest you use general terminology and provide a contingency for the Foundation in the event a named chapter is inactive for a period of time, to ensure that your funds are serving Sigma Chi in the manner that you intended.

The Sigma Chi Foundation recognizes those who create planned gifts with membership in the James Parks Caldwell Society. For more information about including Sigma Chi in your will or any of our Planned Giving options, please contact John Price, Director of Legacy Giving, at 847-425-4476 or at john.price@sigmachi.org. You can also speak to one of our Gift Officers. This information is not intended to serve as legal or tax advice. Please consult a professional advisor.