Bequests

The following are various types of bequests that you may want to consider and review with your attorney.

 

Outright Bequest:

“I give and bequeath the sum of ($ dollars) to the Madison County Office for the Aging, Inc.” 138 Dominick Bruno Blvd., Canastota, NY 13032.

 

Securities or Other Properties: 

 “I give and bequeath 10 shares of stock of the XYZ Corporation to Madison County Office for the Aging, Inc.” or “I give, devise, and bequeath my home and 10 acres situated at 111 Care Street, My City, NY 00000.

 

Residuary Bequest: 

 Madison County Office for the Aging, Inc. would receive the balance of your estate after payment of specific bequests to your primary beneficiaries and the payment of taxes, debts and administrative expenses. “I give, devise, and bequeath all the rest, residue and remainder of my estate, both real and personal, whatsoever it may be situated to Madison County Office for the Aging, Inc.”

 

Contingent Bequest: 

 Madison County Office for the Aging, Inc. would receive the gift only if a named beneficiary does not survive you. “I give and bequeath the sum of ($ dollar) to my sister, Her Name, provided she survives me. In the event my said sister does not survive me, I give and bequeath the sum of ($ dollars) to Madison County Office for the Aging, Inc.”

 

Restricted Bequest: You may restrict a bequest to be used for a specific purpose, such as the Transportation Program. “I give and bequeath the sum of (& dollars) to the Madison County Office for the Aging, Inc. to be used in maintaining the Transportation Program.” Before restricting your bequest, it is requested that you or your attorney contact the Office for the Aging, Inc. In this way, you can be made aware of the most beneficial ways in which the Office can utilize your legacy for the Aging, Inc.

 

The Use of a Codicil: 

 If you presently have a will that has not been updated to reflect changes in your circumstances, you should review it with your attorney. This may be an ideal time to consider how you could benefit the Office for the Aging, Inc. If your will requires no change, you can provide for the Office for the Aging through a Codicil. This brief supplement to your will may be a more appropriate and less expensive way to make a bequest to the Office for the Aging, Inc. without redrafting your will.