Sample Gift Language for your Will or Revocable Living Trust
A gift to Holton-Arms in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
- is easy to arrange.
- will not alter your current lifestyle in any way.
- can be easily modified to address your changing needs.
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to The Holton-Arms School, located in Bethesda, MD, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language
Naming The Holton-Arms School as a beneficiary of a specific amount from your estate is easy:
I give and devise to The Holton-Arms School, located in Bethesda, MD, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
The Holton-Arms School or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to The Holton-Arms School, located in Bethesda, MD, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
You may name The Holton-Arms School as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming Holton-Arms as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Holton-Arms as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Holton-Arms free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify The Holton-Arms School. We can also assist you with the proper language for your beneficiary designation to Holton-Arms.
If you or your attorney would like Holton-Arms to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
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Please contact us so that we can assist you through every step of the process.