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Classification Of Endowments
How are endowments classified?
Endowments are classified according to the circumstances in which they are given:

1) Without a will, during the giver’s lifetime, they are considered to be from the giver’s personal property;

2) Without a will, after the giver’s lifetime, they are considered to be part of the bequest;

3) In a will, they are considered to be part of the bequest; and

4) With or without a will, if they are given under circumstances that ultimately lead to the individual’s death (e.g. illness, war, travel, etc.), they are considered bequests.

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