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Sample Bequest Language

A gift to Focus: HOPE through your will or living trust allows you to make a meaningful contribution that supports Focus: HOPE's efforts far into the future, yet costs you nothing today.

A charitable bequest can be in the form of a precise dollar amount or a specific property.

You can also designate a residual charitable bequest, which is determined after payment of specific amounts to heirs. Bequests, like other gifts, can be restricted for a specific purpose or given without such constraints. If you already have a will, you can append a charitable bequest with the simple addition of a codicil.

Charitable bequests will not alter your lifestyle and they can be easily modified to address your changing
needs. Perhaps these model provisions will be helpful to you and your attorney.

General Unrestricted Bequest Language

Since your charitable bequest may not come to Focus: HOPE for many years, general bequests are the most valuable as they allow Focus: HOPE to apply your funds wherever the need is greatest at the time.

Sample Language:
I give to Focus: HOPE (Tax ID 38-1948285) a non-profit 501 (c) (3) organization located in Detroit, Michigan, the sum of $ ______(OR_____% of my estate OR the property described herein). The property comprising this gift may be used for its general support and charitable purposes without restriction, at the discretion of its trustees.

Restricted Bequest Language

As with any gift, donors can restrict bequests for specific purposes. If you create a restricted bequest, please give Focus: HOPE flexibility to meet unforeseen circumstances.

Sample Language:
I give to Focus: HOPE (Tax ID 38-1948285), a non-profit 501 (c) (3) organization located in Detroit, Michigan, the sum of $ ______(OR_____% of my estate OR the property described herein) to be used for ___________________(specify purpose). If, in the opinion of the trustees or their successors, it becomes impossible or impractical for my gift to be used for the above charitable purpose, @[LegalName shall use my gift for a purpose and in a manner that most closely meets the above charitable purpose.

Contingent Bequest Language

Sometimes situations change after a will is drafted; the people and charities named in our will may not be there in the future. In such cases, naming Focus: HOPE as a contingent beneficiary can be a great alternative. If your will does not name contingent beneficiaries, the government will decide how to disburse your assets or might even inherit your estate.

Sample Language:
If (insert name) is not living at the time of my demise (or if Name of Charity is no longer in existence), I give (a percentage of the estate, specific dollar amount, remainder of estate after all other bequests & expenses, etc.) to Focus: HOPE (Tax ID 38-1948285), a non-profit 501 (c) (3) organization located in Detroit, Michigan, to be used for its general support and charitable purposes without restriction (or you >may use the restricted bequest language above to define a specific purpose for your charitable bequest).

A charitable bequest is one or two sentences in your will or living trust that leave to Focus: HOPE a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Focus: HOPE, a nonprofit corporation currently located at 1400 Oakman Boulevard, Detroit, Michigan 48238, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Focus: HOPE or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Focus: HOPE as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Focus: HOPE as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Focus: HOPE where you agree to make a gift to Focus: HOPE and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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