There are many different kinds of bequests, but their names are not as important as how they work and what they do.
When someone leaves a bequest of a chair or a car or any particular thing—say a house; it is called a specific bequest. Bequests of cash amounts or numbers of stock shares, have names too…and there are more.
Each type of bequest has a ranking of importance and priority in the orderly handling of the instructions in a will. That is why attorneys are important participants in preparing wills.
The Church of The Covenant suggests that members consider a bequest to the Church after all of the other bequests in the will have been completed. This is a bequest that can only come to the Church if every other person or organization has received what they should. If there is anything remaining, then a ‘residuary’ bequest can distribute all or part (a fraction or percentage) of that remainder to the Church.
A will can also direct a person or organization in how to use a bequest, if there are special goals or objectives for use of a bequest. In the case of the Church, Mission, Education, Worship or Music are just a few. So, a bequest can be designated or restricted,
Your attorney will want to incorporate your wishes into your will with carefully selected wording. Included here as sample wording for a bequest. Print this page and share it with your attorney, who will use words of his/her own choosing to achieve your goals. This is only a sample for general information.
If you are considering a gift through your will or estate planning, please contact the Church for additional information.
Church officers are happy to work with your legal advisors. As always, the Church of The Covenant suggests you contact your attorney. He or she is in the best position to assure you every available advantage in making your gift.