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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.
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When
including a bequest provision in your will, always
use the full legal name and provide the federal
taxpayer identification number.
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Our
full, legal name is: "United Methodist Foundation,
Inc., North Carolina Conference of The United
Methodist Church."
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Our
federal taxpayer identification number is: 56-6045578.
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 United Methodist Foundation,
Inc., North Carolina Conference of The United Methodist
Church all of my shares of XYZ stock or mutual fund
to be used for the benefit of United
Methodist Foundation of North Carolina."
-
For a bequest of cash, the possible language
is: "I give to United Methodist Foundation, Inc.,
North Carolina Conference of The United Methodist
Church the sum of (Amount) to be used for the benefit
of United Methodist Foundation
of North Carolina."
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 United Methodist
Foundation, Inc., North Carolina Conference of The
United Methodist Church (percent) of my estate, or
(percent of the rest, residue and remainder) of my
estate to be used for the benefit of United
Methodist Foundation of North Carolina."
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 United Methodist Foundation, Inc.,
North Carolina Conference of The United Methodist
Church all of the rest, residue, and remainder of
my estate, to be used for the benefit of United
Methodist Foundation of North Carolina."
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 United Methodist Foundation. Click
here to return to Wills and
Bequests.
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