Estate gifts are a vital component to the success and advancement of the Medical College of Georgia (MCG) and the Medical College of Georgia Foundation, Inc. The state support for the Medical College and Augusta University has declined through the years, causing the importance of bequests to increase. Bequests, through wills, from university alumni, parents, friends, and faculty enable the MCG Foundation to support MCG by strengthening its nationally recognized commitment to educational excellence and patient care.
Gifts to the MCG Foundation support ground-breaking research in medical care and technology, opportunities for public service and scholarships at MCG and all health science colleges at Augusta University. When you create or revise your estate plan, we hope you will consider including MCG Foundation among your beneficiaries.
How do I make the MCG Foundation a Beneficiary in my Will or Living Trust?
For many alumni and friends of MCG, a charitable bequest is the easiest and best way to make a gift to the medical college. You can make a gift through your will or living trust by including specific language detailing your intent of support for the University through the MCG Foundation. You may choose to designate a specific amount or a percentage of your estate. You can include instructions on how you would like your gift utilized. You might want to recognize a specific scholarship, department, or ask the Foundation to apply your gift to the area of most need with an unrestricted gift. Consider using the included language in your will. If you have a living trust, simply notify your trustee to make the desired distributions to the Medical College of Georgia Foundation.
Bequest for the MCG Foundation's Unrestricted Use
By designating your bequest be for unrestricted use, you provide vital funds, allowing the Foundation to address the most pressing needs of the Medical College of Georgia, at the time your bequest is realized.
"I give to the Medical College of Georgia Foundation, Inc. the sum of $____________ [or property described herein] [or _____ percent (______%) of the rest of my estate] to be used by the Foundation in its discretion for its general purposes in support of the Medical College of Georgia."
Bequest to the MCG Foundation for a Specific Purpose
You may instead designate your bequest for a specific school or program, or for a specific purpose, such as a scholarship, for research support, capital improvements, or any program that captures your imagination and speaks to your passions.
"I give to the Medical College of Georgia Foundation, Inc. the sum of $____________ [or property described herein] [or _____ percent (______%) of the rest of my estate] to be used by _________________ for the following purpose :_________________________________ in support of the Medical College of Georgia."
If you would like to learn more about Bequests, please request our Guide to Planned Giving.
Q. How can I even begin to list all of my assets in a will to make sure that I distribute everything I own?
A. You don’t have to. Typically, after you have made specific bequests or gifts to various people and/or nonprofits, a “residuary clause” will take care of the rest of your property. It might read, “All the rest, residue, and remainder of my property, both real and personal, tangible and intangible, that I might own at the time of my death, I give, devise, and bequeath to…”
Q. Do I really need an attorney to draft my will?
A. Yes, we recommend that you consult with a knowledgeable estate planning attorney. While a will does not have to be written by an attorney to be valid, why take chances on having an invalid will by trying to write one yourself? Even if you do write a valid will, chances are that it will not cover as many contingencies or address as many prospective tax problems as the will that your attorney would have written.
Q. How do I find an attorney to draft my will?
A. Attorneys specialize in particular areas of the law just as physicians specialize in particular areas of medicine. Often, a friend or relative can refer you to an estate planning attorney to draft a will. An accountant, bank officer, life insurance agent, or financial planner can also give you the names of good estate planning attorneys. Referral services sponsored by local or state bar associations are also helpful; they can refer you to an attorney with an estate planning practice.