One of the easiest ways to create a legacy is to include a bequest for charity in one’s will. There are several kinds of bequest provisions, but here we have provided examples of some of the most common.
The most important aspect of the bequest language is the legal name of the charity. Donors should make clear which charity they want to provide for to avoid expensive legal battles. We ask that gifts to Lawrence be left to “Lawrence University of Wisconsin.”
UNRESTRICTED GENERAL BEQUEST
Bequests of this type can provide a specified dollar amount, ensuring a certain size gift, or a specified proportion of the estate, to keep this gift in line with other provisions that may also be included.
“I give and bequeath to Lawrence University of Wisconsin, the sum of __________ ($ ) Dollars for its general use and purposes.”
or
“I give and bequeath to Lawrence University of Wisconsin, __________% of my adjusted gross estate as finally determined for federal estate tax purposes for its general use and purposes.”
SPECIFIC BEQUEST
Bequests can also provide specific items from one’s estate to a charity, like artwork, books, photographs, collections, or other tangible personal property. Charities will have the right to accept or decline such gifts, so alerting them to your wishes will avoid difficulties down the road.
“I give and bequeath to Lawrence University of Wisconsin, my entire art collection consisting of paintings, water colors, prints and sculptures. . . “
