Your charitable bequest is the most important type of gift for helping northern Nevada’s future healthcare needs. When received, your bequest will be recorded as a gift to the designated fund of your choice.

There are three types of bequests for you to consider: Specific, Residual and Contingent. Please consult your financial advisor for specific information about your legacy plan and giving options.

Specific gifts are considered those where a pre-defined dollar amount or fixed asset is identified for the purpose of a bequest. Examples of specific gifts are provided below:

"I give, devise and bequeath to Renown Health Foundation, a nonprofit corporation of the State of Nevada, tax ID #94-2972749, located at 245 East Liberty, Reno, NV 89501”

  1. The sum of $___________."
  2. ________ percentage of my estate.”
  3. __________ shares of stock in ________________Company.", or
  4. my real property commonly known as _________________."

A Residual gift of an estate is everything left in your estate after all specific gifts have been distributed and all debts, bills and taxes have been paid. An example of a residual gift is provided below:

"I give, devise and bequeath to Renown Health Foundation, a nonprofit corporation of the State of Nevada, tax ID #94-2972749, located at 245 East Liberty, Reno, NV 89501, all the residue of my estate.”

Contingent gifts (AKA conditional gifts) are those which are made dependent for their operation upon the occurrence of a contingency or chance of an event that may or may not happen. An example of contingent gifts are provided below:

"In the event of the death of any of the beneficiaries, I give, devise and bequeath to Renown Health Foundation, a nonprofit corporation of the State of Nevada, tax ID #94-2972749, located at 245 East Liberty, Reno, NV 89501, (all the residue of my estate).

Please consult with your financial advisor to determine what type of bequest is best for you.

 

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