Bequest Language

Printable Bequest Language

A bequest—a gift in your will—is a simple and convenient way to create a lasting legacy. Your bequest can be a specific dollar amount, a percentage of your estate, or a particular asset. You may choose to designate your bequest for general use or restrict it to a specific purpose.

Types of Bequests:

• Specific Bequests: These bequests specify a particular dollar amount or asset (such as securities or personal property) that you wish to donate.
• Residuary Bequests: These bequests allocate all or a portion of the remainder of your estate after expenses and any specific bequests have been fulfilled.

Including The Elisabeth Morrow School in Your Will:

Below are examples of suggested wording for different types of bequests to benefit The Elisabeth Morrow School. Each individual’s circumstances are unique, so these examples represent just a few of the possible options. We encourage you to discuss your intentions with us to ensure your wishes are properly honored and recognized. Since a will is an important legal document, we strongly recommend seeking the assistance of an attorney and financial advisor. To help with this process, we offer the following suggested language:

Percentage of Estate for Unrestricted Gifts:

"I give to The Elisabeth Morrow School, a nonprofit organization located at 435 Lydecker Street, Englewood, NJ 07631, ________ percent (%) of my estate for purposes that are within the scope of EMS’ mission."

Specific Amount for Unrestricted Gifts:

"I give to The Elisabeth Morrow School, a nonprofit organization located at 435 Lydecker Street, Englewood, NJ 07631, the sum of $________ (or ________ shares of ________ stock) to be used for purposes that are within the scope of EMS’ mission."

Restricted Gifts:

"I give to The Elisabeth Morrow School, a nonprofit organization located at 435 Lydecker Street, Englewood, NJ 07631, the sum of $________ (or ________ shares of __________________ stock) to be used for __________________ at The Elisabeth Morrow School. In the event the intended purpose of the gift, in the opinion of the Board of Trustees, can no longer be served, the Board may redesignate the remaining assets to be used for purposes that are within the scope of EMS’ mission, ensuring it aligns as closely as possible with my original intent.”

Designating the Purpose of a Bequest:

• Unrestricted Bequests: The most flexible type of bequest, allowing funds to be used where they are most needed. This flexibility is important to accommodate unforeseen needs that may arise in the future.
• Restricted Bequests: If you wish to designate your bequest for a specific program or purpose that reflects your personal interests, please add the following language to your provision to ensure flexibility in the future: “In the event the intended purpose of the restriction, in the opinion of the Board of Trustees, can no longer be served, the Board may redesignate the remaining assets to be used for purposes that are within the scope of the EMS’ charitable mission, ensuring it aligns as closely as possible with my original intent.”