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Bequest
(Sample language)
- Unrestricted Gift: A
gift that can be used where need is greatest
I give to K-LOVE, a non-profit 501(c)(3)
Corporation, headquartered in Rocklin, CA the
sum of $_______* for its
general purposes.
- Gift for a Specific Purpose: A
gift that is to be used for a specific purpose
I give to K-LOVE, a non-profit 501(c)(3)
Corporation, headquartered in Rocklin, CA the
sum of $_______* to
be used for [state purpose].
- Perpetual Endowment Fund: A
gift that lasts in perpetuity
I give to K-LOVE, a non-profit 501(c)(3)
Corporation, headquartered in Rocklin, CA the
sum of $_______*,
to be used as a permanent endowment, the income only from which
shall be used for its general purposes (or describe the specific
purpose, if desired).
- Residuary Bequest: Leaves
any remainder after all other bequests have been paid
All the rest, residue, and remainder of my estate, both real
and personal, I give to K-LOVE, a non-profit
501(c)(3) Corporation, headquartered inRocklin, CA for
its general purposes.
- Contingency Gift: Takes
effect only if a primary intention can’t be met.
If (name of 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 K-LOVE, a non-profit 501(c)(3)
Corporation, headquartered in Rocklin, CA all
of the rest, residue, and remainder of my estate, to be used
for its benefit.
- Safety Language: Language
added whenever a gift is restricted
In the event the purposes of the restriction, in the opinion
of the Board of Directors of K-LOVE can
no longer be served, the Board may devote any remaining assets
exclusively for charitable purposes that: (a) are within the
scope of the charitable purposes of charity (b) most nearly approximate
the original purpose of the gift; and (c) benefits charity.
* Rather than leaving
a sum certain, you can include language that refers to a percentage
of your estate or a description of the property you wish to give.
For more information
Email
us, complete the personal
illustration form, or call us at 916-251-1715 so
that we can assist you through every step of the process.
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