Sample Language for a Bequest
A bequest—a gift in your will—is simple and convenient. Your bequest can be a specific dollar amount or a percentage of your estate. You can designate your bequest for general use, or you can restrict it for a specific purpose.
Below is sample language you can use to create several different types of bequests. Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities.
Specific Bequests are used to make a gift of a specific dollar amount or specific asset, such as securities or personal property.
I give and bequeath the sum of $______ (or asset) to The Baltimore Museum of Art, located in Baltimore, Maryland, for its general charitable and educational purposes (or for the support of a specific program or fund).
Residuary Bequests are used to give all or a portion of the remainder of your estate after your estate expenses and any specific amounts designated for other beneficiaries have been paid.
I give, devise, and bequeath to The Baltimore Museum of Art, located in Baltimore, Maryland, all (or a percentage) of the remainder of my estate for its general charitable and education purposes (or for the support of specific program or fund).
Contingent Bequests are used to name the BMA a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled.
If Name predeceases me, then I give, devise, and bequeath to The Baltimore Museum of Art, located in Baltimore, Maryland, the sum of $_____ (or all or a percentage) of the residue of my estate to be used for its general charitable and educational purposes (or for the support of specific program or fund).
If you or your attorney would like the BMA to provide you with customized beneficiary language, please contact Judy Gibbs at (443) 573-1796 or firstname.lastname@example.org.
Naming the BMA as a Retirement-Plan Beneficiary
You may name the BMA as a beneficiary of your IRA or other qualified retirement benefits. You maintain complete control over the asset while living, and when the plan passes to the BMA, it does so free of both estate and income taxes. Making a charitable gift from your retirement plan is easy and should not cost any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have completed the form, return it to the plan administrator and notify the BMA.
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