Bequest Language
Bequests are an easy way to make a gift to Washington Regional through a provision in your will. Whether making a specific distribution or by leaving a portion of the residue of your estate, a gift in your will is a great way to leave a legacy. Below are several suggested paragraphs, for various bequest options. Please feel free contact us and/or your personal advisors, if you have any questions or need suggestions for Trust document distribution provisions.
Unconditional Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, [the sum of $ ______ or description of property], the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Residuary Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, the rest, residue and remainder (or ______ % of such remainder) of my property and estate, real and personal, the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Contingent Bequest
"If all of the above-named beneficiaries (devisees) should pre-decease me, then I give, devise and bequeath my property, real and personal, which each such beneficiary (devisee) would have received had they survived me, to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Specific Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, [the sum of $ ______ or description of property], to establish The ______ Fund, proceeds from which should be used for ______. If a change of circumstances at some future time should render the designated use of this fund no longer appropriate, then the principal and income from the Fund should be administered in accordance with and subject to the governing instruments of the organization and used to further its objectives and purposes in such a manner as deemed best by its Board of Directors."
Retirement Plans can provide unique gift planning opportunities, to maximize giving and minimize tax consequences. For example, under some circumstances, naming Washington Regional as an IRA beneficiary could establish either an outright gift or be used to provide income, for life or a defined period of time, for a designated beneficiary with the remainder becoming a gift to Washington Regional.
Unconditional Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, [the sum of $ ______ or description of property], the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Residuary Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, the rest, residue and remainder (or ______ % of such remainder) of my property and estate, real and personal, the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Contingent Bequest
"If all of the above-named beneficiaries (devisees) should pre-decease me, then I give, devise and bequeath my property, real and personal, which each such beneficiary (devisee) would have received had they survived me, to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, the principal and income from which will be administered in accordance with and subject to the governing instruments of the organization in such a manner as deemed best by its Board of Directors."
Specific Bequest
"I give, devise and bequeath to Washington Regional Medical Foundation, an Arkansas nonprofit corporation located in Fayetteville, Arkansas, [the sum of $ ______ or description of property], to establish The ______ Fund, proceeds from which should be used for ______. If a change of circumstances at some future time should render the designated use of this fund no longer appropriate, then the principal and income from the Fund should be administered in accordance with and subject to the governing instruments of the organization and used to further its objectives and purposes in such a manner as deemed best by its Board of Directors."
Retirement Plans can provide unique gift planning opportunities, to maximize giving and minimize tax consequences. For example, under some circumstances, naming Washington Regional as an IRA beneficiary could establish either an outright gift or be used to provide income, for life or a defined period of time, for a designated beneficiary with the remainder becoming a gift to Washington Regional.
