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You Can Make Your Bequest in Several Ways...
Specific Bequest:
"I give, devise and bequeath to The Associate Alumnae of Douglass College, a New Jersey non-profit corporation located in New Brunswick, NJ, for The Douglass Fund, Twenty Thousand ($20,000) Dollars [or: all the General Motors stock which I own at the time of my death]."
Residual Bequest:
"All the rest, residue and remainder of my estate, both real and personal, I give, devise and bequeath to The Associate Alumnae of Douglass College, a New Jersey non-profit corporation located in New Brunswick, NJ, for The Douglass Fund."
Contingent Bequest:
"If my nephew does not survive me or is unable to inherit this bequest, I direct that it be paid to The Associate Alumnae of Douglass College, a New Jersey non-profit corporation located in New Brunswick, NJ, for The Douglass Fund."
...And We Can Use Your Bequest in Two Ways:
Your bequest can be directed to support a specific program at Douglass College, or you can tell the Associate Alumnae of Douglass College to apply it to the College need that is most pressing at the time your bequest is received. Since the Associate Alumnae of Douglass College will likely not receive your bequest until far into the future, we prefer that its terms be as general as possible -- to avoid benefitting a project that Douglass College no longer pursues or setting terms that would be difficult for the College to meet. Please consult the Associate Alumnae of Douglass College Office of Gift Planning if you are considering a bequest for a specific purpose.
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A bequest is easy to arrange (see sample text below). It is not payable until death, so it does not affect your assets or cash flow during your lifetime. It is private – your will is not filed or made public until your death. And, it is revocable – you can change the provisions in your will or trust at any time until death.
