Bequest Language

pdficon_large.gif Printable Bequest Language



A bequest—a gift in your will—is simple and convenient. You can create a legacy through a bequest.

Your bequest can be a specific dollar amount or a percentage of your estate. You can designate your bequest for general use, or you can restrict its use. Many individuals establish endowments that honor the memory of a family member or another loved one. These endowments live forever, since only the portion of the fund available for spending each year is paid out annually.

Examples of various types of bequests

Specific bequests are used to make a gift of a specific dollar amount or specific asset (such as particular securities, real estate, or personal property).

Residuary bequests are used to give all or a portion of the remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Including The YMCA of Greater Indianapolis in your will

The following statements are examples of suggested bequest wording to benefit the YMCA of
Greater Indianapolis.

Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities. We encourage you to discuss your intentions with your attorney, financial advisor and with us at the YMCA of Greater Indianapolis to guarantee that your wishes will be properly followed and recognized.

Because a will is an important legal document, you should consult an attorney. To assist you with this consultation we offer suggested wording below.

Percentage of estate for unrestricted purposes
"I give to the YMCA of Greater Indianapolis, a not-for-profit organization located in Indianapolis, IN, _____ percent (%) of the remainder of my estate for its general charitable purposes.”

Percentage of estate directed to the YMCA of Greater Indianapolis Endowment Fund
"I give to the YMCA of Greater Indianapolis, a not-for-profit organization located in Indianapolis, IN, _____ percent (%) of the remainder of my estate to establish the _______________________ Endowed Fund. The portion of this fund available for spending each year shall be used to ________________________. Contributions may be added to the Fund at any time.

“If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the YMCA of Greater Indianapolis Board of Directors may redesignate the purpose, provided that the terms adhere as closely as possible to the original intent.”

Specific amount for unrestricted purposes
"I give to the YMCA of Greater Indianapolis, a not-for-profit organization located in Indianapolis, IN., the sum of $ _____________ in cash (or ________ shares of ______________ stock) to be used for its general charitable purposes."

Specific amount for specific purposes
"I give, devise, and bequeath to the YMCA of Greater Indianapolis, a not-for-profit organization located in Indianapolis IN., the sum of $ _____________ in cash or in-kind (or ________ shares of ______________  stock) to be used for _____________________________ at YMCA of Greater Indianapolis.

“If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the YMCA of Greater Indianapolis Board of Directors may redesignate the purpose, provided the terms adhere as closely as possible to my original intent.”

Designating the purpose of a bequest

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated wherever the need is greatest, and taking into account that changes (laws, new branches, etc.) may necessitate a use that cannot be anticipated at the time of the gift.

Restricted: You may designate your bequest to support a special program or purpose that reflects your interests (adult wellness, teen programs, or youth sports and camps).

If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

“If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the YMCA of Greater Indianapolis Board of Directors may redesignate the purpose, provided the terms adhere as closely as possible to my original intent.”

Please contact Jim Wood, Senior V.P., Chief Development Officer, at (317) 713-8559 to discuss your intentions and to share the news of your future gift. Thank you!

 

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