Sample Gift Language for your Will or Revocable Living Trust

Sample Gift Language for your Will or Revocable Living Trust

Bequest Gifts

One way to support the Sisters of Notre Dame de Namur is to make a bequest, which is a gift made in your will or trust. A bequest gift supports the mission of the Sisters and helps to sustain and strengthen them in the future. A bequest

  • is easy to arrange
  • does not require an immediate cash outlay
  • allows you to maintain control of your assets during your lifetime and can be modified to address your changing needs.

In 2013, the California Province merged with provinces on the East Coast to form the United States East-West Province. The Legal Name of the province is Sisters of Notre Dame de Namur United States East-West Province and the Federal Tax I.D. number is 04-3210469.

Types of Bequests

There are a number of ways you can make a bequest to the Sisters. You can make a gift of a specific amount of money, a specific asset such as real estate, or other personal or tangible property. You may also leave a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Sisters.

Another kind of bequest is called a residual bequest which is made from the balance of the estate remaining after specific bequests have been satisfied. One type of residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 20% of the residue of your estate to the Sisters.

Bequests can also be unrestricted or restricted. Unrestricted bequests give the Sisters the most flexibility to use your gift where it is most needed. An unrestricted bequest would be directed for the East-West Province’s general use and purposes.

A restricted bequest is a bequest that is directed to support a specific fund or program or to support the Sisters operations in a specific geographical region such as California. If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you and your attorney to ensure that your charitable objectives can be met.

Bequest Language to Include in Your Will or Trust

Percentage

A percentage of your estate’s assets

I hereby give to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID# 04-3210469, _____ percent of my estate for the East-West Province’s general use and purposes (or for the needs of the Sisters in _______[Geographical Region] or for the support of ______ [a specific fund or program]).

Specific Dollar Amount

I hereby give to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID# 04-3210469, the sum of $_______ for the East-West Province’s general use and purposes (or for the needs of the Sisters in _______[Geographical Region] or for the support of ______ [a specific fund or program]).

Entire Residue

What is left of your estate after specific bequests are made.

I hereby give to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID# 04-3210469, all the rest, residue, and remainder of my estate for the East-West Province’s general use and purposes (or for the needs of the Sisters in ______[Geographical Region] or for the support of ______ [a specific fund or program]).

Percentage Residue

I hereby give to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID# 04-3210469, ____ percent of the rest, residue, and remainder of my estate for the East-West Province’s general use and purposes (or for the needs of the Sisters in ______[Geographical Region] or for the support of ______ [a specific fund or program]).

Bequest of Specific Real Estate

I hereby give to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID# 04-3210469, all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY, for the East-West Province’s general use and purposes (or for the needs of the Sisters in ______[Geographical Region] or for the support of ______ [a specific fund or program]).

Contingent Bequest

You can specify certain conditions that must be met before an asset or share of your estate is transferred to the Sisters. For example:

If my brother [insert name] is not living at the time of my death, I give his share of my estate to the Sisters of Notre Dame de Namur United States East-West Province, a non-profit organization, Federal Tax ID # 04-3210469, for the East-West Province’s general use and purposes (or for the needs of the Sisters in ______[Geographical Region] or for the support of ______ [a specific fund or program]).

Restricted Bequest

If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Sisters flexibility if it is no longer possible for the East-West Province to use your gift as you originally intended:

If, in the judgment of the Board of Directors of the Sisters of Notre Dame de Namur United States East-West Province, it shall become impossible for the East-West Province to use this bequest to accomplish the specific purposes of this bequest, the East-West Province may use the income and principal of this gift for such purposes as the Board determines is most closely related to the restricted purpose of my bequest.

Retirement Plan Beneficiary Language

You may name Sisters of Notre Dame de Namur (Tax ID #04-3210469) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.

Naming Sisters of Notre Dame de Namur as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Sisters of Notre Dame de Namur as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Sisters of Notre Dame de Namur free of both estate and income taxes.

Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify Sisters of Notre Dame de Namur. We can also assist you with the proper language for your beneficiary designation to Sisters of Notre Dame de Namur.

Customized Language

If you or your attorney would like Sisters of Notre Dame de Namur to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.

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The material presented on this Planned Giving website is not offered as legal or tax advice.
Read full disclaimer|Sitemap|Planned Giving Content © 2018 VirtualGiving.com