Bequest a Gift

How to Bequest a Gift to Beta-Sigma TKE in Your Will or Trust

One way to supportchapter photo Beta-Sigma TKE is to leave a bequest. A bequest is a gift made in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy and make a difference.

Types of Bequests

There are a number of ways you can make a bequest to Beta-Sigma. You can leave what is called a specific bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Beta-Sigma TKE. Another kind of specific bequest involves gifting a specific percentage of your overall estate. For example, you may wish to leave 10% of your estate to Beta-Sigma TKE.

Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests.

A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Beta-Sigma TKE.  There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests are exempt from federal estate taxes.

Bequest LanguageHand writing the text: Whats Your Legacy?

In order to make a bequest, you should speak with your attorney or advisor. If you are considering making an outright bequest to TKE Educational Foundation, we recommend the following language:

Bequest of a Specific Dollar Amount:

I hereby, give, devise and bequeath [$DOLLARS OR RESIDUAL AMOUNT} to Scorpion Benefit Corporation, a not-for-profit corporation located at 10960 Wilshire Blvd #1510, Los Angeles, CA 90024, Federal Tax ID #95-6045363, for Beta-Sigma Chapter of Tau Kappa Epsilon general use and purpose.

Bequest of Specific Personal Property:

I hereby, give, devise and bequeath [DESCRIPTION OF PROPERTY] to Scorpion Benefit Corporation, a not-for-profit corporation located at 10960 Wilshire Blvd #1510, Los Angeles, CA 90024, Federal Tax ID #95-6045363, for Beta-Sigma Chapter of Tau Kappa Epsilon general use and purposes.

Bequest of Specific Real Estate:

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at [ADDRESS OR DESCRIPTION OF PROPERTY] to Scorpion Benefit Corporation, a not-for-profit corporation located at 10960 Wilshire Blvd #1510, Los Angeles, CA 90024, Federal Tax ID #95-6045363, for Beta-Sigma Chapter of Tau Kappa Epsilon general use and purposes.

Bequest of Percentage of an Estate:disclaim-bequest-1

I hereby, give, devise and bequeath [PERCENTAGE OF YOUR ESTATE OR RESIDUAL OF ESTATE] to Scorpion Benefit Corporation, a not-for-profit corporation located at 10960 Wilshire Blvd #1510, Los Angeles, CA 90024, Federal Tax ID #95-6045363, for Beta-Sigma Chapter of Tau Kappa Epsilon general use and purpose.

Restricted Bequest

If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you to help you identify ways to give that will ensure your objectives can be met. We will also work with you to craft language to accomplish your objectives.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Scorpion Benefit Corporation flexibility should it no longer be possible for Scorpion Benefit Corporation to use your gift as you originally intended:

If, in the judgment of the Board of Directors of Scorpion Benefit Corporation, it shall become impossible for Scorpion Benefit Corporation to use this bequest to accomplish the specific purposes of this bequest, Scorpion Benefit Corporation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

Contact Us

Please contact David Bohline if you have any questions about how to make a bequest to the Beta-Sigma Chapter of TKE or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

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