Moody's Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to Moody.
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 Moody.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away any 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 Moody.
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 Moody.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Moody in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to Moody, we recommend the following language:
I hereby give, devise and bequeath _________ dollars ($DOLLARS) to THE MOODY BIBLE INSTITUTE OF CHICAGO, a nonprofit organization currently located at 820 N. LaSalle Blvd., Chicago, IL, 60610, Federal Tax ID #36-2167792, for Moody's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to THE MOODY BIBLE INSTITUTE OF CHICAGO, a nonprofit organization currently located at 820 N. LaSalle Blvd., Chicago, IL, 60610, Federal Tax ID #36-2167792, for it'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 Moody, a nonprofit organization located at 820 N. LaSalle Blvd., Chicago, IL, 60610, Federal Tax ID #36-2167792, for Moody's general use and purpose.
If you are considering making a bequest of a percentage of your estate to Moody, we recommend the following language:
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Moody flexibility should it no longer be possible for our Moody to use your gift as you originally intended:
Please contact us if you have any questions about how to make a bequest to Moody or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for Moody in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.