Bequest Gifts
A bequest is a gift made to charity in your will or trust, allowing you to continue to use the assets or property you may leave to charity during your life. A bequest is an important way to ensure you leave a lasting legacy to support the continued impact of the Center for Process Studies for years to come.
Keep in mind that your gift can be for a specific amount, a percentage, or some portion of the remainder (after family, relatives, and friends have gotten their designated share). We have provided examples below of bequest language to help you in your estate planning.
Types of Bequests
There are a number of ways you can make a bequest to the Center for Process Studies.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $100,00 to the Center for Process Studies.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Center for Process Studies.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Center for Process Studies.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Center for Process Studies.
Bequest Language
If you are considering making an outright bequest to the Center for Process Studies, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Center for Process Studies, a nonprofit organization located at 5678 SE Harlene St., Portland, OR 97222, Federal Tax ID #88-3398956. I understand this bequest will be for either the specified designation or for the charity’s general use and purpose.
Percentage Bequest
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Center for Process Studies a nonprofit organization located at 5678 SE Harlene St., Portland, OR 97222, Federal Tax ID #88-3398956. I understand this bequest will be for either the specified designation or for the charity’s general use and purpose.
Residual Bequest
I hereby give, devise and bequeath to the Center for Process Studies, a nonprofit organization located at 5678 SE Harlene St., Portland, OR 97222, Federal Tax ID #88-3398956., ALL OR A PERCENTAGE of the rest, residue and remainder of my estate for its use and purpose.
Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to the Center for Process Studies, a nonprofit organization located at 5678 SE Harlene St., Portland, OR 97222, Federal Tax ID #88-3398956., DESCRIPTION OF PROPERTY for its general use and purpose.
Contact Us
Please contact us if you have any questions about how to make a bequest to the Center for Process Studies or to request any additional information that might be helpful to you and your attorney as you consider making a bequest.