A gift to The Islamic Seminary of America in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to The Islamic Seminary of America, located in Richardson, TX, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language
Naming The Islamic Seminary of America as a beneficiary of a specific amount from your estate is easy:
I give and devise to The Islamic Seminary of America, located in Richardson, TX, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
The Islamic Seminary of America or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to The Islamic Seminary of America, located in Richardson, TX, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
You may name The Islamic Seminary of America as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming The Islamic Seminary of America as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming TISA as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support TISA free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify The Islamic Seminary of America. We can also assist you with the proper language for your beneficiary designation to TISA.
If you or your attorney would like The Islamic Seminary of America to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
Need a codicil*? Please click here to download.
*A codicil is a legal document that changes specific provisions in your will but leaves all the other provisions the same.
The gift planning information presented on this site is intended as general. It is not to be considered tax, legal, or financial advice. Please consult your own personal advisors prior to any decision.
TISA is the premier American Islamic Graduate Institution dedicated to cultivating a generation of world-class doers and thinkers who lead from an Islamic paradigm while engaging contemporary challenges and opportunities.