A bequest is a gift made through a will. By remembering Calvary in your will you can have a significant impact on the Hospital’s future care efforts. Your bequest may also have estate planning benefits. A bequest can be made in the body of the will or in a codicil.
There are several bequests options:
1) Specific Bequest: You identify particular item or asset to give Calvary. For example, you leave 100 shares of XYZ stock to Calvary Fund Inc.
2) General Bequest: You indicate Calvary will receive a sum of money or a percentage of your entire estate. For example, you leave $25,000.00 to Calvary Fund Inc., or you leave one third of your estate to Calvary Fund Inc.
3) Residuary Bequest: After the specifically named individuals and organizations receive what you have given them what you have given them, whatever is remaining is referred to as your residuary estate. You can elect to give all or a portion of this remainder to Calvary. For example you leave 25% of the rest, residue and remainder of your estate to Calvary Fund Inc.
4) Contingent Bequest: You may designate Calvary as the second in line to receive a particular asset, dollar amount or percentage of your estate in your estate if the individual you name first dies before the estate can make the distribution. For example you leave 50% of you estate to your sister and if she predeceases you, then to Calvary Fund Inc.
Note: If you already have a will and you want to add bequest to Calvary, this modification can be accomplished with a Codicil. A codicil is a written amendment that revises your will.
Bequests can be “unrestricted” (for the Hospital’s discretionary use) or “restricted” (for the support of certain programs, services or needs).
The preferred legal name to when making a bequest to Calvary is “Calvary Fund Inc.”
To notify us that you have made a Bequest to Calvary, click here to print out form.
To read Foresight, Calvary’s Planned Giving Newsletter, click here.
For more information about planned giving opportunities including bequests, please call Elizabeth Edds Kougasian, Esq., Director of Major and Planned Gifts at 718-518-2080, or email firstname.lastname@example.org. Calvary Hospital recommends that you also consult with your legal and financial advisors before finalizing any estate gift.