Everyone should have an estate plan. Whether you have a simple will or a complex plan that includes several Trusts, the right plan will ensure that your wishes are carried out after your death. If you do not make decisions about how your assets will be distributed then the State will make the decision for you. We encourage you to consult with an attorney to determine the best estate plan for your needs.
A contingent bequest can be used when you want to make a gift to your favorite charity but you are concerned that the payment of your debts and taxes, and the specific gifts that you’ve made may use up all of the resources of your estate. A contingent bequest takes effect only if none of your heirs survive you. The following is a sample of the language you might use to make a contingent gift:
In the event that all of the primary and contingent beneficiaries named in this will should die prior to the distribution of my estate, then the undistributed remainder of my estate shall be distributed to The Greyhound Health Initiative A Not-For-Profit Corporation, located at 1 Raleigh Road, Marshfield, MA 02050, and registered with the Massachusetts Secretary of State Department of Corporations. This gift is unrestricted and may be used for the benefit of the Corporation as its Board of Directors may determine.
Unrestricted gifts, those earmarked for general purposes such as those illustrated above, allow us to use the funds where they are most needed at the time of your gift. If you wish to designate a specific use or project for your gift, we’ll be happy to talk with you further about how we can do the best to carry out those wishes.
Many charitably-minded people have asked us how to leave a future gift in their Will or Trust; and by using a general bequest, you can easily provide for your family – and still include The Greyhound Health Initiative in your plans.