Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to Father Joe's Villages.
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 Father Joe's Villages.
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 Father Joe's Villages.
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 Father Joe's Villages.
Bequest Benefits
- A bequest is generally a revocable gift, which means it can be changed or modified during your lifetime.
- You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
- Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Father Joe's Villages in your estate plan. We have provided some basic bequest language below to assist you and your attorney.
1. Specific Bequest
If you are considering an outright bequest to Father Joe's Villages, we recommend the following language:
I hereby give, devise and bequeath _________ [$_________ ] to Father Joe's Villages, a nonprofit organization located at 3350 E Street, San Diego, CA, 92102, Federal Tax ID #33-0492302 , for Father Joe's Villages' general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath [DESCRIPTION OF PROPERTY] to Father Joe's Villages, a nonprofit organization located at 3350 E Street, San Diego, CA, 92102, Federal Tax ID #33-0492302 , for Father Joe's Villages' general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at [ADDRESS OR DESCRIPTION OF PROPERTY] to Father Joe's Villages, a nonprofit organization located at 3350 E Street, San Diego, CA, 92102, Federal Tax ID #33-0492302 , for Father Joe's Villages' general use and purpose.
If you are considering a bequest of a percentage of your estate to Father Joe's Villages, we recommend the following language:
If you are considering a bequest from the balance of your estate after other specific bequests have been distributed, we recommend the following language:
If you are considering a contingent bequest, we recommend the following language:
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help identify ways to benefit our organization while meeting your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Father Joe's Villages flexibility should it no longer be possible for Father Joe's Villages to use your gift as you originally intended:
Contact Us
Please contact us if you have any questions about how to make a bequest to Father Joe's Villages or to request any additional information that might be helpful to you and your attorney.
If you have included a bequest for Father Joe's Villages in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.