An excellent way for you to create a lasting legacy is to make a gift in your Will or trust to Bozeman Health Foundation, to an area you feel most passionate about. You can name a specific department (like cancer, pediatrics or cardiology) or direct your gift to the Area of Greatest Need Fund.
Types of Bequests
There are a number of ways you can make a legacy gift to Bozeman Health Foundation.
Specific Bequest. Name a specific asset or leave a gift of a specified amount to Bozeman Health Foundation in your Will or Trust. For example, you may wish to leave your home or a gift of $50,000 to Bozeman Health Foundation.
Percentage Bequest. You can name a specific percent of your overall estate you wish to direct to Bozeman Health Foundation For example, you may wish to leave 10% of your estate to Bozeman Health Foundation
Residual Bequest. A residual bequest is made from the balance of your estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Bozeman Health Foundation.
Contingent Bequest.A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Bozeman Health Foundation.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
Your attorney can help you include a gift in your Will or estate plan to Bozeman Health Foundation We have provided some basic language and information to include to assist you and your attorney.
1. Specific Bequest
To leave a specific gift amount to Bozeman Health Foundation, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Bozeman Health Foundation, a nonprofit organization located at 875 S. Cottonwood, Suite 350, Bozeman, MT, 59718, Federal Tax ID #84-1407943, directed to <either name a program, or include: to the area of greatest need for Bozeman Health Foundation's mission>.
2. Percentage Bequest
You can make a legacy gift by identifying a specific percentage of your estate that you?d like to direct to Bozeman Health Foundation, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Bozeman Health Foundation, a nonprofit organization located at 875 S. Cottonwood, Bozeman, MT, 59718, Federal Tax ID #84-1407943, for Bozeman Health Foundation's Area of Greatest Need and general use and purpose.
3. Residual Bequest
I hereby give, devise and bequeath to Bozeman Health Foundation, a nonprofit organization located at 875 S. Cottonwood, Bozeman, MT, 59718, Federal Tax ID #84-1407943, ALL OR A PERCENTAGE ___% of the rest, residue and remainder of my estate to be used for Bozeman Health Foundation's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Bozeman Health Foundation, a nonprofit organization located at 875 S. Cottonwood, Bozeman, MT, 59718, Federal Tax ID #84-1407943, <DESCRIPTION OF PROPERTY> to be used for Bozeman Health Foundation's general use and purpose.
Restricted Bequests
If you are considering a legacy gift but would like to ensure that your gift is used for a specific purpose, please let us know. We would be happy to work with you to help you identify ways to give and meet your charitable objectives. We can also work with you to craft language to accomplish your goals
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Bozeman Health Foundation flexibility should it no longer be possible for Bozeman Health Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Bozeman Health Foundation, it shall become impossible for Bozeman Health Foundation to use this bequest to accomplish the specific purposes of this gift, Bozeman Health Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please
contact us if you have any questions about how to make a legacy gift to Bozeman Health Foundation or to request any additional information that might be helpful to you or your attorney as you consider making a bequest to us.
If you have included Bozeman Health Foundation in your estate plans, please contact us to let us know. We would like to thank you and recognize you for your gift and welcome you to the Bozeman Health Foundation Deaconess Society.
