Sample gift language for your will or revocable living trust.
Sample bequest language is offered below for your legal counsel’s consideration in preparing your will or trust.
Residual Gift Language
After all your estate expenses and specific bequests are paid, the probate process will determine a residual amount from which all, or a percentage, can be distributed:
I give and devise to Hartford Hospital (Tax ID #060646668), located in Hartford, CT, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language
After careful consideration with your financial advisor or estate planning attorney, you may wish to name Hartford Hospital for a specific amount:
I give and devise to Hartford Hospital (Tax ID #060646668), located in Hartford, CT, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
Hartford Hospital or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to Hartford Hospital (Tax ID #060646668), located in Hartford, CT, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
You may name Hartford Hospital (Tax ID #060646668) as a beneficiary of your IRA or other qualified retirement plans. Please consult with your financial advisor regarding the tax benefits of such gifts.
Endowment Planning
If it is your intention to establish or supplement an endowed fund through any element of your estate plans, we strongly suggest that you work with our Philanthropy Department to create an agreement for such purpose in advance of its actual funding. Once established, either on paper or by gift during your lifetime, that document and the name of your fund can be referenced in whatever provision you have chosen to include in your estate planning. Should at any time you decide that any changes in the form or function of that agreement are needed, those changes may be arranged directly with the hospital, without having to revise any of your previous estate planning arrangements.