The Benedictine Foundation's Bequest Wording
A bequest is one of the easiest gifts to make, and with the help of an advisor, you can include wording in your will or trust specifying a gift to be made to family, friends or The Benedictine Foundation as part of your estate plan. You can continue to use the assets you have accumulated over the years, your estate will be permitted a charitable deduction, and you will leave a lasting legacy of support to Benedictine. We have provided some basic bequest information and language below to assist you and your advisor.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to The Benedictine Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to The Benedictine Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the balance of the estate to charity. For example, you may wish to leave 30% of the residual balance of your estate to The Benedictine Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to The Benedictine Foundation.
1. Specific Bequest
If you are considering making an outright bequest to The Benedictine Foundation, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to
The Benedictine Foundation, a nonprofit organization located at 14299 Benedictine
Lane, Ridgely, MD, 21660, Federal Tax ID #____________, for The Benedictine
Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to The
Benedictine Foundation, a nonprofit organization located at 14299 Benedictine Lane,
Ridgely, MD, 21660, Federal Tax ID #_______________, for The Benedictine
Foundation's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real
estate located at ADDRESS OR DESCRIPTION OF PROPERTY to The Benedictine
Foundation, a nonprofit organization located at 14299 Benedictine Lane, Ridgely, MD,
21660, Federal Tax ID #_______________, for The Benedictine Foundation's general
use and purpose.
2. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to The Benedictine Foundation, we recommend the following language:
If you are making a restricted bequest, we recommend that your advisor include the following provision. This wording gives The Benedictine Foundation flexibility should it no longer be possible to use your gift as you originally intended:
If you have included a bequest for The Benedictine Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Types of Bequests
There are a number of ways you can make a bequest to The Benedictine Foundation.Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to The Benedictine Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to The Benedictine Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the balance of the estate to charity. For example, you may wish to leave 30% of the residual balance of your estate to The Benedictine Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to The Benedictine Foundation.
Bequest Language
1. Specific Bequest
If you are considering making an outright bequest to The Benedictine Foundation, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to
The Benedictine Foundation, a nonprofit organization located at 14299 Benedictine
Lane, Ridgely, MD, 21660, Federal Tax ID #____________, for The Benedictine
Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to The
Benedictine Foundation, a nonprofit organization located at 14299 Benedictine Lane,
Ridgely, MD, 21660, Federal Tax ID #_______________, for The Benedictine
Foundation's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real
estate located at ADDRESS OR DESCRIPTION OF PROPERTY to The Benedictine
Foundation, a nonprofit organization located at 14299 Benedictine Lane, Ridgely, MD,
21660, Federal Tax ID #_______________, for The Benedictine Foundation's general
use and purpose.
If you are considering making a bequest of a percentage of your estate to The Benedictine Foundation, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to The Benedictine Foundation, a nonprofit organization located at 14299 Benedictine Lane, Ridgely, MD, 21660, Federal Tax ID #______________________, for The Benedictine Foundation's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to The Benedictine Foundation, a nonprofit organization located at 14299 Benedictine Lane, Ridgely, MD, 21660, Federal Tax ID # _________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for The Benedictine Foundation's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to The Benedictine Foundation, a nonprofit organization located at 14299 Benedictine Lane, Ridgely, MD, 21660, Federal Tax ID # _________, DESCRIPTION OF PROPERTY to be used for The Benedictine Foundation's general use and purpose.
Restricted Bequests
If you are considering a bequest and would like to ensure that your gift will be used for a specific purpose, please let us know. We would be happy to work with you and your advisor to help you identify ways to give that meet your charitable objectives. We will also work with you and your advisor to craft language to accomplish your goals.If you are making a restricted bequest, we recommend that your advisor include the following provision. This wording gives The Benedictine Foundation flexibility should it no longer be possible to use your gift as you originally intended:
If, in the judgment of the Board of Directors of The Benedictine Foundation or the future governing entity of The Benedictine Foundation, it shall become impossible for The Benedictine Foundation to use this bequest to accomplish the specific purposes of this bequest, The Benedictine Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have questions about how to make a bequest to The Benedictine Foundation, or to request additional information that might be helpful to you and your advisor as you consider making a bequest to us.If you have included a bequest for The Benedictine Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.