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A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to Our Lady of Mount Carmel that will make a lasting impact.
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends, or Our Lady of Mount Carmel as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Our Lady of Mount Carmel
- Include a bequest to Our Lady of Mount Carmel in your will or revocable trust
- Designate Our Lady of Mount Carmel as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Our Lady of Mount Carmel as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Percentage bequest - make a gift of a percentage of your estate
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Our Lady of Mount Carmel in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to Our Lady of Mount Carmel, we recommend the following language:Bequest of a Specific Dollar Amount2. Percentage Bequest
I hereby give, devise, and bequeath _________ and No/100 dollars ($DOLLARS) to Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, for Our Lady of Mount Carmel's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise, and bequeath DESCRIPTION OF PROPERTY to Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, for Our Lady of Mount Carmel'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 Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, for Our Lady of Mount Carmel's general use and purpose.
If you are considering making a bequest of a percentage of your estate to Our Lady of Mount Carmel, we recommend the following language:I hereby give, devise, and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, for Our Lady of Mount Carmel's general use and purpose.3. Residual BequestI hereby give, devise, and bequeath to Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Our Lady of Mount Carmel's general use and purpose.4. Contingent BequestIf (primary beneficiary) does not survive me, then I hereby give, devise, and bequeath to Our Lady of Mount Carmel, a nonprofit organization located at 14598 Oak Ridge Road, Federal Tax ID #35-0996116, DESCRIPTION OF PROPERTY to be used for Our Lady of Mount Carmel's general use and purpose. -