I. Specific Bequest of Cash: This is the most common type of charitable gift provision. It makes a gift of a specific amount of money.
“I give to Children’s Health Care Foundation the sum of __________________ Dollars (_______) to be used for _______________________.”
II. Specific Bequest of Property: This is also a common type of gift provision. With it you can give specific property (e.g., shares of stock, bonds, or real estate) to Children’s.
“I give to Children’s Health Care Foundation the following property: ________________________. This gift shall include all income earned by the property referred to above between the date of my death and the date of distribution to Children’s Health Care Foundation.”
III. Residuary Bequest: This type of bequest gives to Children’s all or a percentage of the assets remaining in your estate after all of your debts, income and estate taxes, expenses of administration, and other gifts have been paid.
“I give to Children’s Health Care Foundation [my entire] [_________ percent (_____%) of my] residuary estate to be used for _____________________.”
Note: If this provision is to be inserted in a revocable trust rather than a will, replace "residuary estate" with “residuary trust estate.”
IV. Contingent Bequest: This bequest takes effect if one of the primary beneficiaries of your estate plan does not survive you. The language set out below states the contingency. This provision can be added at the beginning of any of the gift provisions set out above.
“If _________________ does not survive me, then I give to Children’s Health Care Foundation, [insert appropriate gift provision].”
© Pentera, Inc. Planned giving content. All rights reserved.