Creating a will is one way to pass on assets to family members and friends. Wills can also be an excellent vehicle to provide for the benefit of a charity, school or other organization. You do not need to have an abundance of wealth to consider writing such a provision in your will. In fact, including a clause for the benefit of a long-lasting institution can be an element of sound will drafting.

Southern California residents of a certain age will remember the actor Peter Falk. He had a lengthy and distinguished career in the acting business. But he arguably earned his greatest reputation on the show Columbo, which was set here in Los Angeles. He died last year at the age of 83.

In his will he left $3 million to the University of California, Los Angeles. The donation will be used to fund scholarships for disabled students, those who have served in the military and undergraduates pursuing studies in music. The scholarship, which is named the Shera and Peter Falk Lt. Columbo Memorial Scholarship Fund, will begin by paying for all four years of tuition for five students matriculating at UCLA this fall.

There are many reasons to consider including a school or charity in your will. Fond memories of years spent at an alma mater, promising work done by an organization, or simply a devoted sense of generosity can provide the motivation to make such a bequest. An estate planning attorney can ensure that your property is divided according to your wishes, whether that includes giving to a university or not.

Source: The Washington Post, "Former 'Columbo' star Peter Falk bequeaths $3 million to UCLA to provide student scholarships," Feb. 21, 2012.