A charitable bequest is a flexible way to support Dodge Nature Center. You may prefer that a bequest be for a specific amount or represent a percentage of your estate, or you may create a bequest that helps Dodge Nature Center after you have provided for your family and friends.
Sample Bequest Language
A SPECIFIC BEQUEST is an outright gift of securities, real estate, or a specific amount of cash. In your will, you describe an item and your intention to give that particular item to Dodge Nature Center “I give, devise and bequeath to Dodge Nature Center, tax ID 41-6081794, located in West St. Paul, Minnesota, $________ (state sum of money or otherwise describe security or property) to be used for its general uses and purposes.”
A PERCENTAGE BEQUEST is a gift of a fixed percentage of your estate and does not provide for the source of payment of the bequest. Your executor will honor the bequest from any available source in your estate. A percentage bequest is more flexible than a specific bequest because it will change in size along with your estate. “I give, devise and bequeath to Dodge Nature Center, tax ID 41-6081794, located in West St. Paul, Minnesota, ______% (state percentage of estate) of the property owned by me at my death, real and personal and wherever situate, to be used for its general uses and purposes.”
A RESIDUARY BEQUEST is a gift of either all or a portion of what remains in your estate after all expenses, debts and taxes have been paid and all general and specific bequests have been honored. If you do not make arrangements for your residuary estate, any asset not mentioned specifically in the will is treated as if you died without a will. “I give, devise and bequeath all (or ______%) of the residue of the property owned by me at my death, real and personal and wherever situate, to Dodge Nature Center, tax ID 41-6081794, located in St. Paul, Minnesota, for its general uses and purposes.”
A CONTINGENT BEQUEST is when you name Dodge Nature Center beneficiary to inherit only in the event a primary beneficiary (such as a spouse or child) does not survive you. In other words, this type of bequest takes effect only in the event that another bequest, for whatever reason, fails. “If any of the above named beneficiaries should predecease me, I hereby give his or her share of my estate to Dodge Nature Center, tax ID 41-6081794, located in St. Paul, Minnesota, to be used for its general uses and purposes.”
CODICIL TO YOUR WILL If you already have a will that spells out your intentions, but would like to include Dodge Nature Center you can do so by using a codicil to your will. A codicil is merely a supplement that modifies your will. Like a will, a codicil must be executed with certain formalities. Please consult your attorney or advisor before incorporating these new changes.
This is meant for informational purposes only.
Please consult your attorney.
