Leave a donation in your will
Imagine how much good could be done if each one of us remembered a favourite charity or cause in our will or estate plan?
When it comes to your will, it is only right that your family and friends come first in your thoughts. But that doesn’t mean you can’t also leave a gift to a cause close to your heart, such as the Father Ray Foundation.
A legacy does not have to be an enormous sum of money. Of course family and friends come first, but any legacy left in a will, not matter how small or how large, is important to the charities you support.
For those supporters living in the United States you may wish to use the examples below.
To Bequest a Specific Amount ($) or Percentage (%)
“I bequeath the sum of ($_____; OR the percentage of _____%) to the Father Ray Sponsor a Child Foundation Ocean City, NJ , or its successor in interest, to be used in such manner as the Board of Directors shall, in its sole discretion, determine. If the Father Ray Sponsor a Child Foundation, or its successor in interest, does not exist at the time of my death, this bequest shall lapse and become a part of the residuary of my estate.”
To Make an unrestricted Residuary Bequest
This statement would come after the donor’s bequests to family or other beneficiaries.
“I give, devise and bequeath to the Father Ray Sponsor a Child Foundation, or its successor in interest, all of the rest, residue and remainder of my estate, to be used in such manner as the Board of Directors shall, in its sole discretion, determine. If the Father Ray Sponsor a Child Foundation, or its successor in interest, does not exist at the time of my death, this gift shall lapse and I give, devise and bequeath the rest, residue and remainder of my estate to my heirs at law.”
Why is it important to keep your will updated?
Once you have a will it is important to keep it up to date. Major changes in your marital, family or financial circumstances should be reflected in your will.
You will need to tell your family and friends the name of your solicitor or lawyer who is holding your will.
Who to include in your will
When writing your will you should take into consideration the people, causes and organizations you want to remember and consider the types of gifts you may want to leave.
You will need to decide who you want to receive your possessions.
Take into consideration your family. Not just what you will leave to them but also who will care for your dependents and your pets. If you have children under the age of 18 who would you like to become their legal guardians.
You will also need to leave instructions for your funeral.
You may have friends who you would like to leave personal mementos and gifts to.
Who will become the Executor of the will? You will also need to inform relatives and friends of your solicitors or lawyer contact details.
You should also inform family and friends of any life insurance policies and stocks and shares that you have accumulated.
You should also look into the rules of inheritance tax, estate tax or estate duty, depending on the country you are living.
When deciding to leave a legacy to a charitable organization we hope that you will think of the Father Ray Sponsor a Child Foundation. Your gift will go towards improving the lives of all our children and students.