Sample Bequest Language
One of the most common ways people make bequests to Leather Archives & Museum is through their wills. If you already have a will, you can add a bequest to Leather Archives & Museum by means of a simple document called a codicil. Be sure to seek the assistance of your attorney.
Forms of Bequests
Specific Bequest: A specific bequest is a gift of a particular dollar amount or property.
Example: I bequeath (dollar amount or description of personal property) to Leather Archives & Museum.
Residuary Bequest: A residuary bequest is a gift of all or part of the property remaining in your estate after debts, expenses and specific bequests have been paid. You control what percentage of your estate is given to an individual or charity. This method automatically adjusts the size of your bequest according to the value of your estate. In the event of unexpected changes in the size of your estate value, you can have peace of mind that your intentions will be fulfilled without the estate running out of assets to distribute.
Example: I bequeath (___%) of the rest, residue and remainder of my property, both real and personal, to Leather Archives & Museum.
Contingent Bequest: A contingent bequest is a gift which takes effect only if the primary beneficiary or beneficiaries of the bequest should predecease you.
Example: If neither my spouse nor any descendant of mine survives me, then I give, bequeath and devise all the rest, residue and remainder of (property or account) to Leather Archives & Museum.
Information for the Attorney Drafting your Bequest
The full legal name of the organization is: Leather Archives and Museum. The legal address is 6418 N Greenview Ave, Chicago, IL 60626; the organization's Federal Tax Identification Number (TIN) is 36-3841874.