A bequest—a gift in your will—is simple and convenient. You can create a legacy through a bequest.
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 its use. Many individuals establish endowments that honor the memory of a family member or a loved one. These endowments live forever, because only the portion of the fund available for spending each year is paid out annually.
Examples of various types of bequests
Specific bequests are used to make a gift of a specific dollar amount or specific asset (such as securities, real estate, or personal property).
Residuary bequests are used to give all or a portion of the remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.
Including Florence Fuller Child Development Foundation, Inc. in your will
The following includes several examples of suggested bequest wording to benefit Florence Fuller Child Development Foundation, Inc.
Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities. We encourage you to discuss your intentions with us at Florence Fuller Child Development Foundation, Inc. to ensure that your wishes will be properly followed and recognized.
Because a will is an important legal document, you should seek an attorney’s help. To assist you with this important process we offer suggested wording below.
Percentage of estate for unrestricted purposes
“I give to Florence Fuller Child Development Foundation, Inc., a not-for-profit organization located in Boca Raton, Florida, _____ percent (%) of the remainder of my estate for its general charitable purposes.”
Designating the purpose of a bequest
Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated wherever the need is greatest, and taking into account that changes (programs, laws, etc.) may necessitate a use that cannot be anticipated at the time of the gift.
Restricted: You may designate your bequest to support a special program or purpose that reflects your interests (specific departments, endowment, or scholarships).
If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.
“If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then Florence Fuller Child Development Foundation, Inc. board of directors may redesignate the purpose, provided the terms adhere as closely as possible to my original intent.”
Please contact Diane Shawcross, Director of Development, Inc., at (561) 391-7274 ext. 111 or email@example.com, to discuss your intentions and to share the news of your future gift. Thank you!
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