Gifts By Will or Living Trust
The Epitome of Planned Giving

A bequest is the most traditional way to provide significant help for worthwhile causes. With a gift through your will or living trust, you retain full use of your gift property during your life. We have listed several common forms of charitable bequests with the hope that one type of bequest will fit your individual needs. Further information is available upon request. Suggested language for any bequest can be found in the following descriptions.

General Bequest: The most familiar type of bequest is the general bequest, which specifies that we will receive a designated sum. For example, you might make a general bequest of $10,000. You may prefer this arrangement because it is considered a primary charge against your estate - which means it will almost certainly be fulfilled. Sample language for this type of bequest is as follows: "I give the Advocate Charitable Foundation, Park Ridge, Illinois, 60068, the sum of $__________ [to be used by the (insert name of hospital or program) for its general purposes or according to a letter of intent previously agreed to by the Foundation and me].

Percentage Bequest: This is an excellent alternative to the general bequest. The percentage bequest states that we will receive a certain predetermined percentage of your estate. By making a percentage bequest of 10%, for example, you assure yourself that inflation will not reduce the true value of the bequest you intended for our benefit.

Specific Bequest: When making a specific bequest, you are directing that one particular property be transferred to us, such as a certain piece of real estate, the stock from one specific company or some other specific property. This type of bequest is ideal for individuals wishing to give particular stocks or a valuable art object. Caution: A specific bequest can be satisfied only with the property designated. If that property has been sold or otherwise removed from the estate, we receive nothing in its place.

Residual Bequest: A residuary bequest gives all, or a stated portion thereof, of a benefactor's property, after all debts, taxes, expenses, and all other bequests have been paid. Sample language for this type of bequest is as follows: "I give the Advocate Charitable Foundation, Park Ridge, Illinois, 60068, _______ percent of the residue of my estate [to be used by the (insert name of hospital or program) for its general purposes or according to a letter of intent previously agreed to by the Foundation and me].

Contingent Bequest: A contingent bequest anticipates an unexpected occurrence. If specific conditions exist, a contingent bequest ensures that property passes to the Foundation rather than intestate. Sample language for this type of bequest is as follows: "In the event that ______________________ predeceases me, I give the Advocate Charitable Foundation, Park Ridge, Illinois, 60068, the sum of $___________(or, alternatively, __________ percent of the residue of my estate) [to be used by the (insert name of hospital or program) for its general purposes or according to a letter of intent previously agreed to by the Foundation and me]."

For more information about gifts by will or living trust, or if you have already decided to include Advocate in your estate plans, please call Marilyn Schaffer, director of planned giving, at 847.384.3424.

Back to back to make a planned gift