Sample Bequest Language for Your Will or Living Revocable Trust

A gift to the Cave Creek Museum in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:

Residual Gift Language

A residual bequest comes to us after your estate expenses and specific bequests are paid:

I give and devise to the Cave Creek Museum (Tax ID #94-2404270) , located in Cave Creek, AZ, 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 Cave Creek Museum as a beneficiary of a specific amount from your estate is easy:

I give and devise to the Cave Creek Museum (Tax ID #94-2404270), located in Cave Creek, AZ, 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 Cave Creek Museum 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 Cave Creek Museum (Tax ID #94-2404270), located in Cave Creek, AZ, 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 Cave Creek Museum (Tax ID #94-2404270) 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 the Museum 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 the Museum 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 the Museum 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 Cave Creek Museum.

Customized Language

You may need a codicil, which is a legal document that changes specific provisions in your will but leaves all the other provisions the same. Your attorney can provide you with customized beneficiary language that is specific to your goal and interest with your bequest to the Museum.