Bequests

Bequests are a standard form of planned giving. If you are not ready to redraft your entire will, you can make a bequest in a codicil. If you have a living trust, you can include your bequest there.
  • "Specific" bequests are the most common. You leave a specific amount of money, a specific asset or a specific percentage of your estate to Somerset Health Care Foundation.
  • "Residual" bequests go to Somerset Health Care Foundation only after all debts, expenses, taxes and other bequests have been paid.
  • "Contingent" bequests take effect only when all other bequests fail. Example: "If my spouse should predecease me, then I leave my entire estate to Somerset Health Care Foundation."

Following is some sample bequest language:

I give the sum of $______ to Somerset Health Care Foundation, a nonprofit organization that supports the mission of Robert Wood Johnson University Hospital Somerset located at 110 Rehill Avenue, Somerville, New Jersey 08876. It is my intent that this bequest be used for programs or capital in the areas of greatest need or [specify purpose].

I give an amount equal to ___ percent of [the net value] or [the remainder] of my estate to Somerset Health Care Foundation, a nonprofit organization that supports the mission of Robert Wood Johnson University Hospital Somerset, located at 110 Rehill Avenue, Somerville, New Jersey 08876. It is my intent that this bequest be used for programs or capital in the areas of greatest need or [specify purpose].

I give ___ shares of ___________ stock to Somerset Health Care Foundation, a nonprofit organization that supports the mission of Robert Wood Johnson University Hospital Somerset located at 110 Rehill Avenue, Somerville, New Jersey 08876. It is my intent that this bequest be used for programs or capital in the areas of greatest need or [specify purpose].

* This information is simply to assist you in your estate planning process. This language/information is not intended to be legal advice. Please discuss with your legal counsel/financial planner.