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Your will is the cornerstone of your estate planning efforts - your most important legal document. Good planning helps you preserve assets so they will be used according to your wishes, provide security for your loved ones and achieve your charitable objectives. Bequests take various forms: • A specific bequest designates that HPCG receive a specific piece of property. Example: "I bequeath to HPCG, 2500 Summit Avenue, Greensboro, NC 27405 all of my shares in 'XYZ Mutual Fund' to be used for its exempt purposes." • A general bequest designates that HPCG receive a specified dollar amount. Example: "I bequeath to HPCG, 2500 Summit Avenue, Greensboro, NC 27405, the sum of $100,000 to be used for its exempt purposes." • A residual bequest designates all or a portion of whatever remains after all debts, taxes, expenses and other bequests have been paid. Example: "I bequeath to HPCG, 2500 Summit Avenue, Greensboro, NC 27405, fifty percent (50%) of the rest, residue and remainder of my estate to be used for its exempt purposes." • A contingent bequest takes effect only if the primary intention cannot be met. This ensures that property will pass to HPCG rather than unintended beneficiaries – including the government. Example: "If (NAME OF PRIMARY BENEFICIARY) does not survive me, then I bequeath to HPCG, 2500 Summit Avenue, Greensboro, NC 27405, all the rest, residue and remainder of my estate to be used for its exempt purposes."
For more information on Planned Giving, CLICK HERE.
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