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Sample Bequest Language

The following sample language is suggested for making a bequest to Washington College, Chestertown, Maryland.

 

“I instruct that all charitable gifts, bequests, and devises should be made, to the extent possible, from assets that constitute Income In Respect of a Decedent, as that term is defined in the Internal Revenue Code.”

Specific Bequest Unrestricted:

I give and bequeath to Washington College, Chestertown, Maryland (FID 52-059-1691) the sum of ____________________ dollars ($______________) to be used for its general exempt purposes as the Board of Visitors and Governors determines is in the best interest of the College.

Specific Bequest, Restricted:

I give and bequeath the Washington College, Chestertown, Maryland, (FID 52-059-1691) the sum of ____________________ dollars ($______________) to be used to provide scholarships to worthy students as determined in the discretion of the College.

Bequest of Specific Sum to be Used to Establish a Restricted Endowment Fund:

I give and bequeath the sum of ____________________ dollars ($______________) to Washington College, Chestertown, Maryland (FID 52-059-1691) and to be used to establish a fund within the College’s endowment to be known as the (Name)________________ Fund. The income of the fund shall be used to provide (Purpose)___________________ as determined in the discretion of the College. 

Bequest of Specific sum to be Added to the Endowment Unrestricted:

I give the sum of ____________________ dollars ($______________) to Washington College, Chestertown, Maryland (FID 52-059-1691) and direct that this bequest be added to the College’s endowment and that the income therefrom shall be used for the general exempt purposes of the College as the Board of Visitors and Governors shall determine.

Residuary Bequest:

I give all the rest, residue and remainder of my estate including any property over which I shall have a power of appointment at the time of my death to Washington College, Chestertown, Maryland (FID 52-059-1691) for its general exempt purposes as determined by the Board of Visitors and Governors of the College.

Residuary Bequest with Restrictions:

I give _____________ percent of the rest, residue and remainder of my estate, including any property over which I shall have a power of appointment at the time of my death, to Washington College, Chestertown, Maryland (FID 59-052-1691) to establish a fund within the College’s endowment to be known as the (Name)________________ Fund, to be used to support (Purpose)___________________ at the College. If at any time the Board of Visitors and Governors of Washington College should determine that it is impossible or impractical to use the funds received pursuant to this bequest for the purpose stated, the Board of Visitors and Governors is authorized to modify the purposes for which the Fund may be used so as to comply as closely as possible with my original intention.

Gifts of Real Property:

I give all of my right, title and interest in the real property known as (Property description) ________________________________,  to Washington College, Chestertown, Maryland (FID 52-059-1691) and authorize the College to sell said property or to maintain ownerships as it shall determine in its sole discretion.

Gifts of Securities:

I give all of the common stock of  (Name/Symbol)_________ (or any successor Company) that I may own at the time of my death to Washington College, Chestertown, Maryland (FID 52-059-1691) to be used for its general exempt purposes.