The following language may help you and your attorney when drawing up a bequest that meets your needs.
If you intend to leave an outright gift of cash, securities or other property by designating a specific dollar amount, a particular asset or a fixed percentage of your estate to the Lamb Center to be used for general purposes:
“After taking care of all expenses, debts and other provisions, I give, devise and bequeath ___ percent of the rest and residue [or $___ if a specific amount] to the Lamb Center, a Virginia-based charitable organization [Tax ID #41-2222581] currently with administrative offices at 3160 Campbell Drive, Fairfax, VA 22031.”
If you intend to make an outright bequest for a specific purpose:
“I, [name], of [city, state, ZIP], give, devise and bequeath to the Lamb Center [written amount or percentage of the estate or description of property] for its charitable purposes, including but not limited to ___________ use and purpose.”
If you wish to make a contingency gift so that the Lamb Center will receive a portion of your estate if your named beneficiary does not survive you:
“If any of the beneficiaries named in this will should die before becoming entitled to receive their distributive share of my estate, I direct my trustee to pay or transfer the share to which such beneficiary would otherwise be entitled to the Lamb Center for its unrestricted use and purpose.”
Please contact us if you have any questions.
Then, consult with your tax advisor and lawyer to determine which planned gift strategy is best for you.