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Sample
Bequest Language
Please
note
that gifts of this nature should be carefully considered
in relation to your comprehensive financial and estate plans.
We strongly recommend that you consult an attorney in the
preparation of your will and to supervise its execution
so as to comply with your state requirements. The following
are examples for illustration only.
•When
including a bequest provision in your will, always use the
full legal name and provide the federal taxpayer identification
number.
•Our full, legal name is: "Richmond Rescue Mission,
Inc., dba Bay Area Rescue Mission."
•Our federal taxpayer identification number is: 94-6124054.
 Bequests
for Unrestricted Purposes
Unrestricted gifts are to be used for the greatest need
at the time to be determined by the Board. A general unrestricted
bequest is especially valued by us.
- For a bequest
of securities, the possible language is: "I give Richmond
Rescue Mission, Inc., dba Bay Area Rescue Mission all of
my shares of XYZ stock or mutual fund to be used for the
benefit of the Bay Area Rescue Mission."
- For a bequest
of cash, the possible language is: "I give to Richmond
Rescue Mission, Inc., dba Bay Area Rescue Mission the sum
of (Amount) to be used for the benefit of the Bay
Area Rescue Mission."
If you do
not want to specify the exact amount or nature of the intended
gift, perhaps because the size of the future estate is difficult
to estimate, a proportional bequest is often the best way
to accomplish your goals. We would receive a percentage
of the estate or the residue of the estate, after all other
provisions have been met.
- Possible
language is: "I give to Richmond Rescue Mission, Inc., dba
Bay Area Rescue Mission (percent) of my estate, or (percent
of the rest, residue and remainder) of my estate to be used
for the benefit of the Bay Area Rescue
Mission."
Contingent
Bequest
A contingent bequest takes effect only if the primary intention
cannot be met (e.g. if the primary beneficiary does not
survive the donor). This ensures that property will not
be distributed to unintended beneficiaries.
- Possible
language is: "If (name of primary beneficiary) does not
survive me, or shall die during the administration of my
estate, or as a result of a common disaster, then I give
to Richmond Rescue Mission, Inc., dba Bay Area Rescue Mission
all of the rest, residue, and remainder of my estate, to
be used for the benefit of the Bay
Area Rescue Mission."
Bequests
for Restricted Purposes
If you would like to honor
a family member, a special person or provide support for
a specific program or department that was meaningful to
you, then you can designate your bequest specifically for
that purpose. You simply use any form of the possible language
included above, and replace "to be used for the benefit
of [ insert purpose or intent ]" with the specific designation.
Often specific guidelines govern the use of these types
of funds. Therefore, we recommend that you contact us to
discuss your restricted gift. We are here to help you as
you plan.
If
you already have a will
A
codicil is a written change or amendment to a will. Click
here for a printable copy of what a codicil would look
like. Please remember to consult your attorney to make sure
you are properly advised.
Thank
you for remembering the Mission. Click here to return to
Wills and Bequests.
Please
note, individual financial circumstances will vary. The
information on this site does not constitute legal or tax
advice. As with all tax and estate planning, please consult
your attorney or estate specialist. All material is copyrighted
and is for viewing purposes only. Use of this site signifies
your agreement with the terms of use.The
content in this Planned Giving section has been developed
for Bay Area Rescue Mission by Future
Focus.
Please report any problems to webmaster.
Revised: March 5, 2006 17:55.
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