Types of Bequests

Five types of bequests you might make to Breck

 
Pecuniary Bequest: a bequest of a specific sum

• Example: "I give $100,000 to Breck School to be used for its general educational purposes."

Bequest of a Fraction of Residue: a bequest of a specified fraction of the donor's residuary estate

• Example: "I give 20% of my residuary estate to Breck School to be used for its general educational purposes." 

Contingent Bequest: a bequest that takes effect only upon the happening of a specific event

• Example: "If my spouse, Jane/John Doe, does not survive me, I give my entire residuary estate to Breck School to be used for its general educational purposes." 

Specific Bequest: a bequest of specified property

• Example: "I give 100 shares of my stock in the XYZ Corporation to Breck School. The proceeds of the sale of this stock shall be used for the school's general educational purposes." 

Bequest which Creates a Trust: a charitable lead trust or charitable remainder trust can be created by will as well as in lifetime.