|
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: "Floyd Healthcare Foundation."
- Our
federal taxpayer identification number is: 58-1375074.
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 Floyd Healthcare Foundation all of my shares of XYZ stock
or mutual fund to be used for the benefit of Floyd Healthcare
Foundation ." - For a bequest of cash, the possible language
is: "I give to Floyd Healthcare Foundation the sum of (Amount) to be used for
the benefit of Floyd Medical Center." 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 Floyd Healthcare Foundation (percent)
of my estate, [or (percent) of the rest, residue and remainder of my estate] to
be used for the benefit of Floyd Medical Center."
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 Floyd Healthcare Foundation
all of the rest, residue, and remainder of my estate, to be used for the benefit
of Floyd Medical Center." 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 Floyd Medical Center. Click here to return to Wills
and Bequests.
| 
