Bequests are gifts made through a will and are a wonderful and important way to support Tudor Place. A bequest can be a specific dollar amount, a percentage of your estate or the remainder of your estate. These gifts have no immediate impact on your current lifestyle. Please consider a gift through your estate.
Listed below are samples of bequest language for the most common types of bequests. Every estate plan is different, so please share this information with your estate planner to determine which one works best for you.
RESIDUAL BEQUEST
A residual bequest is a gift made to the Tudor Place Foundation after all other bequests, debts, and taxes are paid. Sample language:
I give, devise and bequeath to Tudor Place Foundation, Inc. [all or percentage] of the rest, residue and remainder of my estate, to be used for its unrestricted use and purpose (or for the support of a specific program).
SPECIFIC BEQUEST
A specific bequest names Tudor Place as a beneficiary of a specific gift amount designated in advance by you. Sample language:
I give, devise and bequeath to the Tudor Place Foundation, the sum of $_____ (or asset) to be used for its unrestricted use and purposes (or for the support of a specific program).
CONTINGENT BEQUEST
A contingent bequest names Tudor Place a beneficiary in the event that one of your specific bequests cannot be fulfilled. Sample language:
If (insert name) is not living at the time of my demise I give, devise and bequeath to the Tudor Place, the sum of $____ (or all or a specific percentage of the residue of my estate) to be used for its general support (or for the support of a specific program),