Charitable Bequests
A will represents a person’s final wishes and intentions. After providing for your loved ones, please consider one final act of generosity through a bequest in your will or living trust that provides enduring support for our vital work. For many of us, this will be the most significant gift you will make – your gift of a lifetime.
Tools to Make a Bequest:
If you have not done so, you need to make a will or a living trust instrument. This is a significant and important undertaking. If you have a will or living trust, you may see your attorney to make an amendment.
Types of Bequests
- Specific Bequest: You may leave a specific asset or assets, such as real estate, securities or a specific dollar amount.
- Percentage Bequest: You may leave a specific percentage of your overall estate to End of Life Choices New York.
- Residuary Bequest: You may gift the remaining balance of the estate after all specified distributions are made and all obligations have been satisfied.
- Contingent Bequest: A contingent bequest is one that takes effect only if the primary beneficiary or beneficiaries of the bequest are unable to accept the bequest. Usually this means that the primary beneficiary does not survive the benefactor or else disclaims the property. By naming End of Life Choices New York as contingent beneficiary, End of Life Choices New York would receive your generous bequest only if the purpose of the primary bequest cannot be met.
*It is important that you consult your attorney and/or professional advisors to consider the application of this language to your individual circumstances as part of an overall estate plan.
Sample Bequest Language
Bequest of a Specific Amount or Asset
A specific bequest ensures that specific property that you designate will pass to End of Life Choices New York. You might consider the following language as an example:
Specific Amount
“I hereby give, devise and bequeath $______________ to End of Life Choices New York at 244 5th Ave #2010, New York, NY 10001 to be used for its general use and purpose.”
Specific Asset
“I hereby give, devise and bequeath _______________ (description of property) to End of Life Choices New York at 244 5th Ave #2010, New York, NY 10001 to be used for its general use and purpose.”
Percentage Bequest
A bequest can be made as a percentage of the whole or of the residuary of the estate to End of Life Choices New York, using the following language as an example:
“I hereby give, devise and bequeath to End of Life Choices New York at 244 5th Ave #2010, New York, NY 10001 (all or a percentage) of the rest, residue and remainder of my estate, both real and personal, for its general use and purpose.”
Residuary of Your Estate
A residual bequest is made from the remaining portion of your estate after the will or trust has distributed each of the specific bequests and all other expenses and taxes. The following is sample language:
“I hereby give, devise and bequeath the rest, residue and remainder of my estate to End of Life Choices New York at 244 5th Ave #2010, New York, NY 10001 for its general use and purpose.”
Contingent Bequest
“If _______________ (Name of beneficiary) predeceases me or disclaims any interest in __________ (description of property), I give such property to End of Choices Life New York at 244 5th Ave #2010, New York, NY 10001 for its general use and purpose.”
Contact Us
(212) 726-2010
or, send an email
info@eolcny.org
Thank you for considering this gift!
The gift descriptions are for informational purposes and are not legal or tax advice. To ensure that this gift fits your particular circumstances and planning, please consult with your professional advisers.