Legacy Deo's Bequest Language
An excellent way for you to support Legacy Deo's mission is to leave us a bequest in your will, living trust, or through a codicil in your existing will. A significant benefit of making a gift by bequest is that it allows you to continue using the property that you will ultimately leave to charity. Another benefit is that you leave a lasting legacy.
There are a number of ways you can make a bequest to Legacy Deo.
We recommend seeking the advice of an attorney when making a bequest. Your attorney can help you include a bequest to Legacy Deo 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 Legacy Deo, we recommend the following language:
If you are considering making a bequest of a percentage of your estate to Legacy Deo, we recommend the following language:
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 are happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Legacy Deo flexibility should it no longer be possible for our Legacy Deo to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to Legacy Deo 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 Legacy Deo in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Types of Bequests
There are a number of ways you can make a bequest to Legacy Deo.
Specific Bequest. A specific bequest makes a gift of a specific asset such as real estate, a car, other property, or a gift of a specific dollar amount. For example, you may wish to leave your home or $10,000 to Legacy Deo.
Percentage Bequest. Leave a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Legacy Deo.
Residual Bequest. A residual bequest is made after the will or trust distributes 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 Legacy Deo.
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 your vacation home to a relative, but the bequest language could provide that if the relative is not living at the time of your death, the vacation home will go to Legacy Deo.
Percentage Bequest. Leave a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Legacy Deo.
Residual Bequest. A residual bequest is made after the will or trust distributes 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 Legacy Deo.
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 your vacation home to a relative, but the bequest language could provide that if the relative is not living at the time of your death, the vacation home will go to Legacy Deo.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest be used for a general or specific purpose.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes. This results in a larger inheritance for your heirs.
Bequest Language
We recommend seeking the advice of an attorney when making a bequest. Your attorney can help you include a bequest to Legacy Deo 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 Legacy Deo, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise, and bequeath _________ and No/100 dollars ($DOLLARS) to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
Bequest of Specific Personal Property
I hereby give, devise, and bequeath DESCRIPTION OF PROPERTY to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
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 Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
2. Percentage BequestI hereby give, devise, and bequeath _________ and No/100 dollars ($DOLLARS) to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
Bequest of Specific Personal Property
I hereby give, devise, and bequeath DESCRIPTION OF PROPERTY to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
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 Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
If you are considering making a bequest of a percentage of your estate to Legacy Deo, 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 Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, for Legacy Deo's general use and purposes.
3. Residual Bequest
I hereby give, devise, and bequeath to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Legacy Deo's general use and purposes.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise, and bequeath to Legacy Deo, a nonprofit organization located at 2901 Caballo Ranch Blvd, Ste 4D, Cedar Park, Texas, 78641-4637, Federal Tax ID #75-6036950, DESCRIPTION OF PROPERTY to be used for Legacy Deo's general use and purposes.
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 are happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Legacy Deo flexibility should it no longer be possible for our Legacy Deo to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Legacy Deo, it shall become impossible for Legacy Deo to use this bequest to accomplish the specific purposes of this bequest, Legacy Deo may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have any questions about how to make a bequest to Legacy Deo 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 Legacy Deo in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
