Bequest Language

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Bequests

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.

Understand the Ways to Give

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.

The following includes several examples of suggested bequest wording to benefit the Reid Health Foundation. Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities. We encourage you to discuss your intentions with the Reid Health Foundation to ensure that your wishes will be properly followed and recognized.

Percentage of estate for unrestricted purposes
"I give, devise, and bequeath to the Reid Health Foundation, a nonprofit organization located in Richmond, Indiana, _____ percent (%) of the remainder of my estate for its general charitable purposes.”

Percentage of estate to establish an endowed fund
"I give, devise, and bequeath to the Reid Health Foundation, a nonprofit organization located in Richmond, Indiana, _____ percent (%) of the remainder of my estate to establish the ________ Endowed Fund. The portion of this fund available for spending each year shall be used to ___________________________. Contributions may be added to the Fund at any time.

If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the Reid Health Foundation Board of Directors may redesignate the purpose—provided that the terms adhere as closely as possible to the original intent.”

Specific amount for unrestricted purposes
"I give, devise, and bequeath to the Reid Health Foundation, a nonprofit organization located in Richmond, Indiana, the sum of $_______ in cash (or ________ shares of ________stock) to be used for its general charitable purposes."

Specific amount for specific purposes
"I give, devise, and bequeath to the Reid Health Foundation, a nonprofit organization located in Richmond, Indiana, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at Reid Health Foundation.

If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the Reid Health Foundation Board of Directors may redesignate the purpose—provided the terms adhere as closely as possible to my original intent."

Designating the purpose of a bequest:
Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by the Reid Health Foundation wherever the need is greatest.

Restricted: You may designate your bequest to support a special program or purpose that reflects your interests (for example: specific departments, charity care, or hospital programs).

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 the Reid Health Foundation Board of Directors may redesignate the purpose—provided the terms adhere as closely as possible to my original intent."

Please contact the Reid Health Foundation at 765-983-3102 before writing a will that includes any type of restriction on a bequest.

If you have included a bequest for the Reid Health Foundation in your estate plan, please let us know. We would like to thank you and recognize you for your gift. Contact us to learn more about our Honor Gifts Wall and naming opportunities that exist.

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