There are different types of bequests:
• Specific Bequest: A specific bequest is a gift of a particular dollar amount or property. For example: I bequeath (dollar amount or description of personal property) to Beyond Hunger.
• Residuary Bequest: A residuary bequest is a gift of all or part of the property remaining in your estate after debts, expenses and specific bequests have been paid. You control what percentage of your estate is given to an individual or charity. This method automatically adjusts the size of your bequest according to the value of your estate. In the event of unexpected changes in the size of your estate value, you can have peace of mind that your intentions will be fulfilled without the estate running out of assets to distribute. For example: I bequeath (___%) of the rest, residue and remainder of my property, both real and personal, to Beyond Hunger.
• Contingent Bequest: A contingent bequest is a gift which takes effect only if the primary beneficiary or beneficiaries of the bequest should predecease you. For example: If neither my spouse nor any descendant of mine survives me, then I give, bequeath and devise all the rest, residue and remainder of (property or account) to Beyond Hunger.
Information for the Attorney Drafting your Bequest:
The full legal name is Beyond Hunger. The legal address is 848 Lake Street, Oak Park, Illinois 60301; and our Federal Tax Identification Number is 27-2018997.