Sample Bequest Language for the Benefit of The New York Bar Foundation
Gifts Through a Bequest
Naming The New York Bar Foundation in your will is a simple and easy way to give to The Foundation. You can bequeath a specific dollar amount, a percentage of your estate, the remainder of your estate, or the remainder of a trust to The Foundation. You may direct your gift for use for general purposes or for a particular purpose (either by establishing a Restricted Fund or by contributing to an existing Restricted Fund of The Foundation). The minimum amount required to establish a new Restricted Fund is $10,000.
Your bequest to The New York Bar Foundation will reduce the size of your taxable estate and can reduce estate taxes.
Sample wording:
Sum Bequest
“To The New York Bar Foundation, I leave the sum of $50,000 to be used at the discretion of The Foundation, a nonprofit corporation organized under the laws of the State of New York, now having its principal place of business located at 1 Elk Street, Albany, NY 12207.”
“To The New York Bar Foundation, I leave the sum of $50,000 to be used to establish a Restricted Fund in the name of [insert name here] and restrict its use to provide funding for legal services to the indigent.”
Percentage Bequest
I give, devise, and bequeath [insert percentage] of my estate to The New York Bar Foundation, a nonprofit corporation organized under the laws of the State of New York, now having its principal place of business located at 1 Elk Street, Albany, NY 12207.
Please consult with your legal and tax advisors as you consider bequest language.