Northland College's Bequest Language

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Northland College.

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 Northland College.

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 Northland College.

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 vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Northland College.
 

A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that 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 of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, for Northland College's general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, for Northland College'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 Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, for Northland College'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 Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, for Northland College's general use and purpose.
 

I hereby give, devise and bequeath to Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Northland College's general use and purpose.
 

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Northland College, a nonprofit organization located at 1411 Ellis Ave., Ashland, WI, 54806, Federal Tax ID #39-0806428, DESCRIPTION OF PROPERTY to be used for Northland College's general use and purpose.
 

If, in the judgment of the Board of Directors of Northland College, it shall become impossible for Northland College to use this bequest to accomplish the specific purposes of this bequest, Northland College 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.