REED Foundation for Autism's Bequest Language
An excellent way for you to support REED Foundation for Autism's mission is to leave us a bequest in your will, living trust or with a codicil. Bequest gifts are revocable and allow you to continue to use the asset during your life. Another benefit is leaving your legacy at REED, ensuring our impact on the autism community lasts in perpetuity.
There are a number of ways you can make a bequest to REED.
Your attorney can help you include a bequest to the REED Foundation for Autism in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are making an outright bequest to REED, we recommend the following language:
If you are considering a bequest but would like to ensure it 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 your attorney include the following provision to give REED flexibility should it no longer be possible for your gift to be used as you originally intended:
Please contact us if you have any questions about how to make a bequest to REED or to request any additional information that might be helpful to you and your attorney.
If you have included a bequest for the REED Foundation for Autism 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 REED.
Specific Bequest - A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a specific dollar amount. For example, you may wish to leave your home or $100,000 to the REED Foundation for Autism.
Percentage Bequest - Another kind of specific bequest involves leaving a specific percentage of your overall estate to nonprofits. For example, you may wish to leave 10% of your estate to the REED Foundation for Autism.
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 nonprofits. For example, you may wish to leave 30% of the residue of your estate to the REED Foundation for Autism.
Contingent Bequest - A contingent bequest benefits a nonprofit only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could also provide for your vacation home to go to the REED Foundation for Autism should your relative not be alive at the time of your death.
Percentage Bequest - Another kind of specific bequest involves leaving a specific percentage of your overall estate to nonprofits. For example, you may wish to leave 10% of your estate to the REED Foundation for Autism.
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 nonprofits. For example, you may wish to leave 30% of the residue of your estate to the REED Foundation for Autism.
Contingent Bequest - A contingent bequest benefits a nonprofit only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could also provide for your vacation home to go to the REED Foundation for Autism should your relative not be alive at the time of your death.
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 your bequest be used for a general or specific purpose so you have the peace of mind knowing your gift will be used as intended.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
Your attorney can help you include a bequest to the REED Foundation for Autism in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are making an outright bequest to REED, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #____________, for the REED Foundation for Autism's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #_______________, for the REED Foundation for Autism's general use and purpose.
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 the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #_______________, for the REED Foundation for Autism's general use and purpose.
2. Percentage BequestI hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #____________, for the REED Foundation for Autism's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #_______________, for the REED Foundation for Autism's general use and purpose.
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 the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #_______________, for the REED Foundation for Autism's general use and purpose.
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID #______________________, for the REED Foundation for Autism's general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID # _________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for the REED Foundation for Autism's general use and purpose.
4. Contingent Bequest
If (PRIMARY BENEFICIARY) does not survive me, then I hereby give, devise and bequeath to the REED Foundation for Autism, a nonprofit organization located at 25 Potash Road, Oakland, NJ, 07436, Federal Tax ID # _________, DESCRIPTION OF PROPERTY to be used for the REED Foundation for Autism's general use and purpose.
Restricted Bequests
If you are considering a bequest but would like to ensure it 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 your attorney include the following provision to give REED flexibility should it no longer be possible for your gift to be used as you originally intended:
If, in the judgment of the Board of Trustees of the REED Foundation for Autism, it shall become impossible for the REED Foundation for Autism to use this bequest to accomplish the specific purposes of this bequest, the REED Foundation for Autism 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 REED or to request any additional information that might be helpful to you and your attorney.
If you have included a bequest for the REED Foundation for Autism in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
