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Bequests

Steps to Include MCG Foundation in your Will or Living Trust

1. Identify the Beneficiary:

  • Clearly state the full legal name of the beneficiary: Medical College of Georgia Foundation, Inc.​

  • Include the Foundation's federal tax ID number: 58-0706796. This helps ensure there is no confusion about the intended recipient.

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2. Decide on the Type of Bequest:

  • Specific Bequest:​ This involved leaving a specific dollar amount or a particular asset (e.g., real estate, stocks).

  • Percentage Bequest: You can designate a percentage of your total estate to teh Foundation.

  • Residual Bequest: After all other bequests, debts, and expenses have been paid, the remainder of your estate can be left tot eh Foundation.

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3. Drafting the Bequest Language:

  • Unrestricted Bequest: By designating your bequest for unrestricted use, you provide essential funds that enable the Foundation to address the most urgent needs of the Medical College of Georgia as they arise. This flexibility ensures that your gift can have the greatest impact, supporting critical initiatives and opportunities when they are needed most.​​

“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."

  • Restricted Bequest: You may choose to designate your bequest for a specific school or program, or for a particular purpose such as scholarships, research support, capital improvements, or any initiative that resonates with your interests and passions. This allows you to make a meaningful impact in an area that is most important to you.

“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."

“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."

4. Consult with an Estate Planning Attorney:

  • It is highly recommended to work with an attorney who specializes in estate planning. They can ensure your will or living trust is legally sound and address all potential contingencies and tax implications.

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5. Inform the MCG Foundation:

  • Notifying the Foundation of your planned gift allows us to plan for future support and ensures we have the correct information. 

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6. Review and update Your Estate Plan

  • Regularly review your will or living trust to ensure it reflect your current wishes and circumstances. Life changes such as marriage, divorce, the birth of a child, or significant changes in your financial situation may necessitate updates.

Additional Considerations

  • Tax Benefits: Charitable bequests can offer significant tax advantages, potentially reducing the taxable value of your estate. For estates valued over a certain threshold, this can minimize or eliminate federal and state taxes.

  • Flexibility: Charitable bequests are adaptable. Unless specified as irrevocable, you can update your estate plan at any time, even revoking it if circumstances change.

  • Create a Legacy: Leaving a charitable bequest ensures a positive impact on the world, creating a lasting legacy. Your name may be associated with charitable endeavors, and you can take pride in knowing your gift supports a cause you care about.

Frequently Asked Questions

Q. How can I list all my assets in a will?
A. You don’t need to list every asset. After specific bequests, a residuary clause can cover the remainder of your estate. For example: “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…”

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Q. Do I 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.

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Q. How do I find an attorney to draft my will?
A. You can get referrals from friends, family, financial advisors, or local bar associations. Professionals like accountants, bank officers, life insurance agents, or financial planners can also recommend estate planning attorneys.

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If you would like to learn more about Bequests, please request our Guide to Planned Giving. If you have questions about making an estate gift, please contact Mary McCormack at

706-540-2885 or mmccormack1@augusta.edu.

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