A General Bequest
A general bequest would provide that a specific amount of money, a percentage of your estate or a certain piece of property, be given to Three Sides to Every Story, Inc. at the time of your death. For most people, a gift of a percentage of the remaining estate after taxes and debts have been satisfied is the most appropriate use of a general bequest. The following sample language illustrates how a general bequest to Three Sides to Every Story, Inc. might be phrased in your will or trust: I give, devise, and bequeath 10% of my Estate, after taxes and debts have been satisfied, to THREE SIDES TO EVERY STORY, INC, A 501(c)(3) non-profit organization, located in LAGRANGE, GEORGIA.
A Residual Bequest
A residual bequest would designate that the remainder or balance of your estate would go to THREE SIDES TO EVERY STORY, INC a deserving non-profit you respect and support -- after your will or trust has made gifts of money or property to your loved ones. The following sample language illustrates how a residual bequest to THREE SIDES TO EVERY STORY, INC might be phrased in your will or trust: I give, devise, and bequeath all the rest, residue, and remainder of my property, real, personal, or mixed; after all personal bequests have been made, to THREE SIDES TO EVERY STORY, INC, a non-profit organization, located in LAGRANGE, GEORGIA.
A Contingent Bequest
A contingent bequest would be useful when you want to make a gift to Three Sides to Every Story, Inc. but you feel your heirs will need all the resources of your estate. Thus, a contingent bequest takes effect only in the event none of your heirs survives you. Though planning for this type of contingency may seem unnecessary, it is an important part of good stewardship. The two following sample language illustrates how a contingent bequest to Three Sides to Every Story, Inc might be phrased in your will or trust: In the event my wife and all of my children should die prior to the distribution of my estate without leaving descendants surviving such event, then, and in that event, the undistributed corpus of my estate shall be distributed to THREE SIDES TO EVERY STORY, INC, A NON-PROFIT ORGANIZATION, located in LAGRANGE, GEORGIA.
A Bequest Following Income
A bequest following income provides a regular income stream from a trust to one or more loved ones for a specified term of years. After the term has been fulfilled, a percentage or the entire remaining amount could go to Three Sides to Every Story, Inc. This is often used in conjunction with a children's trust in a will. The trust can designate that the assets be held in trust until the youngest living child reaches a certain age and then be divided among the children and Three Sides to Every Story, Inc. The following sample language illustrates how a bequest following income to Three Sides to Every Story, Inc might be phrased in your will or trust: The Trustee shall hold the corpus of my Trust until my youngest living child reaches the age of twenty-two (22), at which time my Trustee shall then distribute fifty percent (50%) of my estate to my children in equal shares and fifty percent (50%) to THREE SIDES TO EVERY STORY, INC, A Non-profit organization, located in LAGRANGE, GEORGIA.
The Give It Twice Bequest
A “GIVE IT TWICE” bequest is another variation of the BEQUEST FOLLOWING INCOME. With this arrangement, the assets are held in Trust for the children for a period of ten years after the second spouse's death. During this time, the Trustee distributes 10% of the value of the trust each year to the children as beneficiaries or 100% of the initial value of the Trust over the term. If the Trust earns close to 10% each year the children will receive the full value of the estate spread out over a ten-year period and then you can designate Three Sides to Every Story, Inc will receive the full value after the ten-year period expires. Three Sides to Every Story, Inc could even serve as Trustee of the Trust if you prefer. This helps insure that the children do not spend the inheritance too quickly and that Three Sides to Every Story, Inc receives a significant gift from your estate. The following sample language illustrates how a Give It Twice Bequest to Three Sides to Every Story, Inc might be phrased in your will or trust: Three Sides to Every Story, Inc shall hold the corpus of my estate in Trust for a period of ten years following my death. During that time Three Sides to Every Story, Inc shall pay out 10% of the initial value of the Trust each year to my children in equal shares. At the end of the ten year term, Three Sides to Every Story, Inc shall distribute the balance of the Trust estate to Three Sides to Every Story, Inc, a non-profit organization, located in LAGRANGE, GEORGIA .
Three Sides to Every Story, Inc will keep a record of those individuals who have included them in their will or trust so that we can keep these individuals updated on important issues and events within our organization. The following simple language has been provided for your convenience if you wish to notify Three Sides to Every Story, Inc.
Dear Three Sides to Every Story, Inc:
I/we wanted to inform you that we have included your organization in our estate planning as a beneficiary under my/our will(s). We have a great appreciation of your organization and are pleased to be able to provide for you in this way.
Sincerely yours, |
