Scranton Area Community Foundation's Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to Scranton Area Community Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Scranton Area Community Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away 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 Scranton Area Community Foundation.
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 specific property, such as a the contents of a bank account, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the designated bank account will go to Scranton Area Community Foundation.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Scranton Area Community Foundation 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 Scranton Area Community Foundation, we recommend the following language:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Scranton Area Community Foundation, a nonprofit organization located at 615 Jefferson Ave., Scranton, PA, 18510, Federal Tax ID #23-2890364, for Scranton Area Community Foundation's general use and purpose.
If you are considering making a bequest of a percentage of your estate to Scranton Area Community Foundation, 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 would be 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 Scranton Area Community Foundation flexibility should it no longer be possible for the Scranton Area Community Foundation to use your gift as you originally intended because a nonprofit has ceased operation or for some other unforeseen event:
Please contact us if you have any questions about how to make a bequest to Scranton Area Community Foundation 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 Scranton Area Community Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.