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Planning Your Legacy
Bequests
Sample Language
Unrestricted Gift: A gift that can be used where need is greatest
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, for its general purposes.
Gift for a Specific Purpose: A gift that is to be used for a specific purpose
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, to establish the (insert name--John and Jane Doe Fund), an endowed (insert purpose—such as scholarship, professorship, or library collection) fund to be held as a permanent fund within the Trust’s general endowment.
Perpetual Endowment Fund: A gift that lasts in perpetuity
I give and bequeath __________________________ *(describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, to be used as a permanent endowment, to be used as a permanent endowment in support of its general purposes (or describe the specific purpose, if desired).
Residuary Bequest: Leaves any remainder after all other bequests have been paid
I give and bequeath __________________________ (describe dollar amount, property to be given, or proportion of estate/residuary estate), to the Newfoundland Club of America Charitable Trust, a not-for-profit corporation 501(c)(3) Fed. ID 06-1500326, all the rest, residue, and remainder of my estate, both real and personal, for its general purposes (or describe the specific purpose, if desired).
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 and bequeath to the Newfoundland Club of America Charitable Trust, a non-profit 501(c)(3) corporation 501(c)(3) Fed. ID 06-1500326, all of the rest, residue, and remainder of my estate, to be used for its general purposes (or describe the specific purpose if desired).
Safety Language: Language added whenever a gift is restricted
At any time after the expiration of 25 years from the date of initial funding, the Newfoundland Club of America Charitable Trust, in its sole discretion, shall have the right to determine whether the Fund is then serving the purpose for which it was established and if the Trust determines that it is not, then and in that event, the Trust may, at its option, continue the Fund as an endowment for another purpose.
* 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.
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