Charitable Bequests
A will represents a person's final wishes and intentions. After providing for your loved ones, please consider one final act of generosity through a bequest in your will or living trust that provides enduring support for our vital work. For many of us, this will be the most significant gift we will make - our gift of a lifetime.
If you have not done so, you need to make a will or a living trust instrument. This is a significant and important undertaking. If you have a will or living trust, you may see your attorney to make an amendment.
Below is a description of different kinds of bequests and sample language that could be used in your will of living trust.
Specific Bequest: You may leave a specific asset or assets, such as real estate, securities or a specific dollar amount.
- Specific Amount: "I hereby give, devise and bequeath $______________ to First Presbyterian Church Stillwater at 524 S Duncan St, Stillwater, OK 74074 to be used for its general use and purpose."
- Specific Asset: "I hereby give, devise and bequeath _______________ (description of property) to First Presbyterian Church Stillwater at 524 S Duncan St, Stillwater, OK 74074 to be used for its general use and purpose."
Percentage Bequest: You may leave a specific percentage of your overall estate to First Presbyterian Church Stillwater.
- "I hereby give, devise and bequeath to First Presbyterian Church Stillwater at 524 S Duncan St, Stillwater, OK 74074 (all or a percentage) of the rest, residue and remainder of my estate, both real and personal, for its general use and purpose."
Residuary Bequest: You may gift the remaining balance of the estate after the will or trust has distributed all specific bequests and all other expenses and taxes.
- "I hereby give, devise and bequeath the rest, residue and remainder of my estate to First Presbyterian Church Stillwater at 524 S Duncan St, Stillwater, OK 74074 for its general use and purpose."
Contingent Bequest: A contingent bequest is one that takes effect only if the primary beneficiary or beneficiaries of the bequest are unable to accept the bequest. Usually, this means that the primary beneficiary does not survive the benefactor or else disclaims the property. By naming First Presbyterian Church Stillwater as contingent beneficiary, we would receive your generous bequest only if the purpose of the primary bequest cannot be met. Click for sample bequest language.
- "If _______________ (Name of beneficiary) predeceases me or disclaims any interest in __________ (description of property), I give such property to First Presbyterian Church Stillwater at 524 S Duncan St, Stillwater, OK 74074 for its general use and purpose."
To learn more, please contact the church office.
It is important that you consult your attorney and/or professional advisors to consider the application of this language to your individual circumstances as part of an overall estate plan.