Bequest Basics: Make it Easy!Building your bequest program? Arguably, bequests are the most basic building block in any good planned giving strategy. Yet, some planned giving officers are hesitant to make bequest planning easy by including sample bequest language on websites, newsletters, or anywhere their donors are looking. At JBL, we recommend that sample bequest language be as readily available as organizational letterhead. Every office, every briefcase, every giving page on your website should include simple, sample language. Naturally, you’ll want to get your legal counsel’s approval for any samples you provide to your donors, but showcasing how basic your bequest language can be will de-mystify the process of including your charity in your donors’ estates. There are several, simple ways to showcase sample language: Simple, Sample Bequest Language:I <<name>>, give, devise, and bequeath <<institution>>, <<FIN>>, located at <<address>>, the sum of $____ (or, ____ percent of my estate, or, ____ percent of the residue of my estate) to be used for such purposes as the <<institutional leadership or program>> determines at the time this bequest becomes effective. Bequest language For Potential Changes In Use by Institution:I give, devise and bequeath to <<institution>>, a non-profit corporation, <<FIN>>, located in <city, state>>, ____ percentage, or the sum of ___________, or the following asset(s) ____________, or the remainder of my estate, to be used for ______________________, subject to the approval of <<institution>>. If, as a result of changed conditions in the future, the income or principal from this gift shall not be needed for the purposes set forth, <<institutional leadership>> is authorized to designate the use of the funds as will best further the objectives and welfare of the institution, while giving primary consideration to the special interest of the donor as evidenced in the above statement. Please direct your bequest questions to: <<Name and address of planned giving leadership>> Specific Bequest Language with “Instructions”I give and bequeath the sum of ___ Dollars ($_____ ) to <<institution>>, <<address>>, for the benefit of <<<institution>> or <specific program>>. CONTINGENT BEQUESTS will result in a gift to <<institution>> only in the event of the death of other beneficiaries or when certain conditions described in your will are met. Here is an example to make a contingent bequest: "If my spouse, <Spouse’s name>>, does not survive me, I give and bequeath the sum of _____ Dollars ($_____ ) to <<institution>>, <<address>>, for the benefit of <<<institution>> or <specific program>>.” RESIDUARY BEQUESTS are used to give all or a portion of your estate that is left over after it distributes property designated to heirs. Here’s another example: "I give and bequeath ____ percent (%) of my residuary estate to <<institution>>, <<address>>, for the benefit of <<<institution>> or <specific program>>." At JBL, it’s a core value that communications with donors are as clear and simple as possible. Feel free to have any one of these examples, approved by your counsel, available to your donors. Your bequest program chair will thank you. We’re happy to help you build your bequest program or any of you planned giving programs. Contact JBL and let us know what your particular challenges are.
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June 2008:Archived Newsletters |
