Planned Giving - Bequests
Types of Bequests:
Specific Bequest
This specifies an exact dollar amount or a specific item of property that you leave to the College Guild Legacy Fund. The language in a will for such a gift would read, for example, “I bequeath $5,000 to the College Guild Legacy Fund” or “I bequeath my vacation home to the College Guild Legacy Fund”
Residuary Bequest
Using this bequest structure, you can leave specific assets to loved ones while giving the remaining or “residuary” amount to College Guild. For example, “ After all other gifts, I bequeath the remainder of my estate to the College Guild Legacy Fund.”
Contingent Bequest
You can designate College Guild as a contingent beneficiary in case of a certain event. For example, “I give 5% of my estate to my friend Jane Smith, if she survives me – or, if not, to the College Guild Legacy Fund."
How to Make a Bequest:
Below please find sample language that you may add to your will to make a legacy gift to College Guild:
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"I give, devise, and bequeath [the sum of _______ USD {or other currency} OR _______ percent of the rest and residue of my estate] to the College Guild Legacy Fund, c/o College Guild (Tax ID# 01-0545944) a charitable corporation organized under the laws of the State of Maine, United States, currently located at 103 Harpswell Rd, Suite 106, Brunswick, ME 04011 (mailing address P.O.Box 696, Brunswick, ME 04011) to be used for its general charitable purposes at its discretion."