Bequests 101

According to Investopedia, A bequest is a financial term describing the act of giving assets such as stocks, bonds, jewelry, and cash, to individuals or organizations, through the provisions of a will or an estate plan. Bequests can be made to family members, friends, institutions, or charities.

If you are making a bequest to Marillac St. Vincent Family Services, we recommend the following language:

1. Bequest of a Specific Dollar Amount I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, for Marillac St. Vincent Family Service’s general use and purpose.

2. Bequest of Specific Personal Property I hereby give, devise and bequeath (DESCRIPTION OF PROPERTY) to Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, for Marillac St. Vincent Family services’ general use and purpose.

Please note that all in-kind donations must be approved according the MSV Gift Acceptance Policy

3. Bequest of Specific Real Estate I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at (ADDRESS OR DESCRIPTION OF PROPERTY) to Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, for Marillac St. Vincent Family service’s general use and purpose.

Please note that all real estate donations must be approved according the MSV Gift Acceptance Policy.

4. Percentage Bequest If you are considering making a bequest of a percentage of your estate to Marillac St. Vincent Family Services, 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 Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, for Marillac St. Vincent Family Services’ general use and purpose.

5. Residual Bequest I hereby give, devise and bequeath to Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, (ALL OR A PERCENTAGE) of the rest, residue and remainder of my estate to be used for Marillac St. Vincent Family Service’s general use and purpose.

6. Contingent Bequest If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Marillac St. Vincent Family Services, a nonprofit organization located at 2145 N. Halsted St., Chicago, IL 60614, Federal Tax ID #36-2109717, (DESCRIPTION OF PROPERTY) to be used for Marillac St. Vincent Family Services’ general use and purpose.

For more information contact Development Director, Daniel Summins at dan@marillacstvincent.org or call 312-278-4220.