Regent Policy Documents
SECTION 22: GIFTS, BEQUESTS, ART, AND FUNDRAISING
22-1 GUIDELINES FOR DISTRIBUTION OF BEQUESTS AND PROCEEDS OF GIFTS AND TRUSTS
The following guidelines are approved for determining the distribution of bequests, and for distribution of proceeds of gifts and trusts, when the instruments under which they are made do not contain definite directions for distribution, or when such directions cannot be obtained from the testators or grantors:
- When the bequest is to the "Regents of the University of Wisconsin ," or merely to the " University of Wisconsin ," the bequest should be used for those components of the University that were a part of the University at the time the will or trust was executed.
- When the bequest is to the "Regents of the University of Wisconsin, Madison" or the Regents of the University of Wisconsin "at," "in," or "of Madison, disposition as in above should be made, the assumption being that reference to Madison is to locate the Regents rather than a designation of a particular campus.
- If the bequest is to the "University of Wisconsin, Madison, Wisconsin," it shall be presumed that the bequest was intended for the Madison campus subject to rebuttal of said presumption under the provisions of paragraphs 5 and 6 hereof.
- If the bequest is to the "University of Wisconsin-Madison" or to "the University of Wisconsin " "at," "in," or "of Madison , then the proceeds of the bequest should be used for the Madison campus, since it can be assumed that a designation of location has been made.
- In the administration of paragraphs 1 through 4, the campus attended by the testator or grantor, or a close relative, should be considered as influencing a choice in favor of the campus that he or she attended.
- The administration of these guidelines should be subject to suggestions from the executor or trustee, or other extrinsic evidence.
History: Res. 276 adopted 9/8/72.
The Regent Policy Documents were adopted and are maintained pursuant to the policy-making authority vested in the Board of Regents by Wis. Stats. § 36. The Regent Policy Documents manifest significant policies approved by the University of Wisconsin System Board of Regents. This document is a ready reference for those charged with carrying out these policies. Unless noted otherwise, associated documents and reports may be obtained from the Office of the Secretary of the Board of Regents, 1860 Van Hise Hall, 1220 Linden Drive, Madison, WI 53706, ph 608-262-2324. http://www.uwsa.edu/bor/policies/