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6 Bequest Language Samples for Donors and Their Advisors
1. Unrestricted bequest
"I, [name], of [city, state, ZIP], give to Foundation for Lincoln Public Schools [insert written amount or percentage of the estate or description of the property] for its unrestricted use and purpose."
2. Restricted bequest
"I, [name], of [city, state, ZIP], give to Foundation for Lincoln Public Schools [insert written amount or percentage of the estate or description of the property] for [insert purpose]. In the event the original purpose of the gift no longer exists as determined by the Board of Directors, the Board shall re-direct this gift to another purpose as similar as possible to my original intent, as determined by the Board."
3. Honorary or memorial bequest
"I, [name], of [city, state, ZIP], give to Foundation for Lincoln Public Schools [insert written amount or percentage of the estate or description of the property] for [insert unrestricted purposes or describe the restricted purpose]. [May also insert in honor of or in memory of] [insert first and last name of person]. In the event the original purpose of the gift no longer exists, as determined by the Board of Directors, the Board shall redirect this gift to another purpose as similar as possible to my original intent, as determined by the Board."
4. Residuary bequest
"I, [name], of [city, state, ZIP], give to Foundation for Lincoln Public Schools after payment of nontax expenses, [insert percentage] of the rest, residue and remainder of my estate [insert unrestricted purposes or describe the restricted purpose]. In the event the original purpose of the gift no longer exists, as determined by the Board of directors, the Board shall redirect this gift to another purpose as similar as possible to my original intent, as determined by the Board."
5. Contingent bequest
"I, [name], of [city, state, ZIP], give [insert written amount or percentage of the estate or description of the property] to [insert name of person, e.g. spouse, children, etc.] if [repeat person's name] is then survival. If [person] is not then surviving, this bequest shall pass to Foundation for Lincoln Public Schools for [insert unrestricted purposes or describe the restricted purpose]. In the event the original purpose of this gift no longer exists, as determined by the Board of Directors, the Board shall redirect this gift to another purpose as similar as possible to my original intent, as determined by the Board."
6. Endowed bequest
"I, [name], of [city, state, ZIP], give to Foundation for Lincoln Public Schools [insert written amount or percentage of the estate or description of the property] to fund an endowment for [insert unrestricted purposes or describe the restricted purpose]. If the above stated gift is not sufficient in size at the time of my death to establish an endowment at said organization, this bequest shall increase to the minimum amount necessary to establish the endowment. The spending amount shall be as set by the Board. In the event the original purpose of this gift no longer exists, as determined by the Board of Directors, the Board shall redirect the annual distribution from this endowment to another purpose as similar as possible to my original intent, as determined by the Board."
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