The following language may help you and your attorney when drawing up a bequest that meets your needs.
General bequest: If you intend to leave an outright gift of cash, securities or other property by designating a specific dollar amount, a particular asset or a fixed percentage of your estate to Habitat for Humanity to be used for general purposes:
“After taking care of all expenses, debts and other provisions, I give, devise and bequeath ___ percent of the rest and residue [or $___ if a specific amount] to Habitat for Humanity International, a Georgia-based charitable organization [Tax ID# 91-1914868] currently with administrative offices at 121 Habitat Street, Americus, GA 31709-3498.”
Specific bequest: If you intend to make an outright bequest for a specific purpose, such as to support advocacy or disaster response:
“I, [name], of [city, state, ZIP], give, devise and bequeath to Habitat for Humanity International [written amount or percentage of the estate or description of property] for its charitable purposes, including but not limited to ___________ use and purpose.”
Contingency bequest: If you wish to make a contingency gift so that Habitat for Humanity will receive a portion of your estate if your named beneficiary does not survive you:
“If any of the beneficiaries named in this will should die before becoming entitled to receive their distributive share of my estate, I direct my trustee to pay or transfer the share to which such beneficiary would otherwise be entitled, to Habitat for Humanity International for its unrestricted use and purpose.”
If at any point in time and for any reason, you wish to make changes to include Habitat in your will, you can easily amend it by using a Codicil. A codicil is a document your attorney can prepare to amend your will or trust without rewriting the entire document. The codicil adds a new gift to Habitat for Humanity International while reaffirming the other terms of your will.
Please contact us at email@example.com or 800-422-4828, ext. 3614 if you have any questions.
Then, consult with your tax advisor and lawyer to determine which planned gift strategy is best for you.