Types of Bequests

Specific Bequest

This specifies an exact dollar amount or a specific item of property that you leave to the College Guild Endowment. The language in a will for such a gift would read, for example, “I bequeath $5,000 to the College Guild Endowment” or “I bequeath my vacation home to the College Guild Endowment.”

 

Residuary Bequest

Using this bequest structure, you can leave specific assets to loved ones while giving the remaining or “residuary” amount to the College Guild Endowment. For example, “ After all other gifts, I bequeath the remainder of my estate to the College Guild Endowment.”

 

Contingent Bequest

You can designate the College Guild Endowment 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 Endowment."

 

How to Make a Bequest

Here is sample language that you can add to your will to make a legacy gift to the College Guild Endowment:

 

"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 Endowment, 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."

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