the wisdom to follow. the courage to lead.
Bequest Language
Example bequest language – Please feel free to change the numbers or percentages as you desire
1. Bequest of cash
"I give, devise and bequeath the sum of $__________ to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
2. Bequest of a percent of the estate
"I give, devise and bequeath the sum of $_____ or __% of my adjusted gross estate as finally determined for federal estate tax purposes, whichever is lesser to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
3. Contingent Gift of Residuary Estate
"If my wife __________ survives me, I devise and bequeath the sum of $_____ or __% of] the remainder and residue of property owned at my death, whether real or personal, and wherever located to ___________. If ___________ does not survive me, then I devise and bequeath [__% of] my residuary estate, whether real or personal property and wherever located to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
4. Gift for Specific Purpose
"I give, devise and bequest the sum of $_____ OR all my right, title, and interest in and to (describe property) to support _______________________ (i.e. specific programs, etc.) to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146. If the purpose for this fund ceases to exist, the Board of Trustees may reallocate those monies to another use that the Board deems appropriate."
1. Unrestricted Beneficiary Designation
"Trustee shall pay the entire balance of my (type of account) account to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
2. Restricted Beneficiary Designation
"Trustee shall pay ($ amount or %) from my (type of account) account to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 to be used for the following purposes: (a) ____________ (b) _________________."
1. Bequest of cash
"I give, devise and bequeath the sum of $__________ to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
2. Bequest of a percent of the estate
"I give, devise and bequeath the sum of $_____ or __% of my adjusted gross estate as finally determined for federal estate tax purposes, whichever is lesser to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
3. Contingent Gift of Residuary Estate
"If my wife __________ survives me, I devise and bequeath the sum of $_____ or __% of] the remainder and residue of property owned at my death, whether real or personal, and wherever located to ___________. If ___________ does not survive me, then I devise and bequeath [__% of] my residuary estate, whether real or personal property and wherever located to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
4. Gift for Specific Purpose
"I give, devise and bequest the sum of $_____ OR all my right, title, and interest in and to (describe property) to support _______________________ (i.e. specific programs, etc.) to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146. If the purpose for this fund ceases to exist, the Board of Trustees may reallocate those monies to another use that the Board deems appropriate."
Example of Beneficiary Designation Language
1. Unrestricted Beneficiary Designation
"Trustee shall pay the entire balance of my (type of account) account to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 for its unrestricted use."
2. Restricted Beneficiary Designation
"Trustee shall pay ($ amount or %) from my (type of account) account to Severn School, a not-for-profit organization incorporated in the State of Maryland, (Tax ID EIN 52-059-1466) its principal office being located at 201 Water Street, Severna Park, MD 21146 to be used for the following purposes: (a) ____________ (b) _________________."
