High Hopes Inc.'s Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to High Hopes Inc.
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 High Hopes Inc.
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 residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to High Hopes Inc.
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 High Hopes Inc.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to High Hopes Inc. in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to High Hopes Inc., we recommend the following language:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to High Hopes Inc., a nonprofit organization located at 36 Town Woods Road, Old Lyme, CT, 06371, Federal Tax ID #____________, for High Hopes Inc.'s general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to High Hopes Inc., a nonprofit organization located at 36 Town Woods Road, Old Lyme, CT, 06371, Federal Tax ID #_______________, for High Hopes Inc.'s general use and purpose.
If you are considering making a bequest of a percentage of your estate to High Hopes Inc., we recommend the following language:
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give High Hopes Inc. flexibility should it no longer be possible for High Hopes Inc. to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to High Hopes Inc. or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for High Hopes Inc. in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.