Thank you for including the Whiteside County Farm Bureau Foundation as part of your plan.
Types of Bequests
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the Whiteside County Farm Bureau Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Whiteside County Farm Bureau Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Whiteside County Farm Bureau Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Whiteside County Farm Bureau Foundation.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Whiteside County Farm Bureau Foundation in your estate plan. Below are examples of possible language that you and your attorney can review and discuss. Every situation is different, and you should work with an attorney to formulate bequest language that is most appropriate for you and your estate planning goals. This language is not intended to serve as individual legal advice.
1. Specific Bequest
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison , IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's 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 the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
2. Percentage Bequest
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
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 you identify ways to give and meet your charitable objectives.
If you are making a restricted bequest, consider that there may be a time where the restrictions on the bequest make it impractical or impossible to fulfill your original intent in making the gift. We will work with you and your attorney to plan for those possible situations. Often, that might include bequest language that gives the Board of Directors of the Foundation flexibility where, in the judgment of the Directors, it becomes impossible for Foundation to use this bequest to accomplish the original objectives of the bequest. The language may allow the Foundation to use the income and principal of the gift for purposes that Board determines are most closely related to the restricted purpose of the bequest.
CONTACT US
Please contact us if you have any questions about how to make a bequest to the Whiteside County Farm Bureau Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for the Whiteside County Farm Bureau Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
© Copyright 2019 Crescendo Interactive, Inc. All Rights Reserved. PRIVACY STATEMENT This document is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.
Types of Bequests
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the Whiteside County Farm Bureau Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the Whiteside County Farm Bureau Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the Whiteside County Farm Bureau Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Whiteside County Farm Bureau Foundation.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Whiteside County Farm Bureau Foundation in your estate plan. Below are examples of possible language that you and your attorney can review and discuss. Every situation is different, and you should work with an attorney to formulate bequest language that is most appropriate for you and your estate planning goals. This language is not intended to serve as individual legal advice.
1. Specific Bequest
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison , IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's 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 the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
2. Percentage Bequest
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to the Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Whiteside County Farm Bureau Foundation, a nonprofit organization located at 100 East Knox Street, Morrison, IL, 61270, Federal Tax ID #36-3690666, for Whiteside County Farm Bureau Foundation's general use and purpose.
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 you identify ways to give and meet your charitable objectives.
If you are making a restricted bequest, consider that there may be a time where the restrictions on the bequest make it impractical or impossible to fulfill your original intent in making the gift. We will work with you and your attorney to plan for those possible situations. Often, that might include bequest language that gives the Board of Directors of the Foundation flexibility where, in the judgment of the Directors, it becomes impossible for Foundation to use this bequest to accomplish the original objectives of the bequest. The language may allow the Foundation to use the income and principal of the gift for purposes that Board determines are most closely related to the restricted purpose of the bequest.
CONTACT US
Please contact us if you have any questions about how to make a bequest to the Whiteside County Farm Bureau Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for the Whiteside County Farm Bureau Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
© Copyright 2019 Crescendo Interactive, Inc. All Rights Reserved. PRIVACY STATEMENT This document is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.