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BEQUESTS > SAMPLE BEQUEST LANGUAGE FOR CONSIDERATION

Many donors who already have established a fund at the Adirondack Community Trust want to add to that fund in their will.  Here is how a donor could add to their fund at ACT:

I bequeath $_____________ to the [insert name of fund (the "Fund")] at the Adirondack Community Trust, a New York nonprofit corporation.  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.  The Adirondack Community Trust shall use the fund to support the designated intentions stated in the fund agreement which established [insert name of fund as determined by donor (the "Fund")].

SAMPLE BEQUESTS TO THE UNRESTRICTED FUND

Gifts to ACT’s Unrestricted Fund or additions to the fund they have established often come by bequest.  The following examples show the different ways a donor might structure a bequest to an established fund, or an unrestricted fund bearing the donor's name.

BY AMOUNT

I bequeath $_____________ to The Adirondack Community Trust, a New York nonprofit corporation, for support of its general charitable purposes.  [Optional: The Fund so established shall be known as the [name of Fund]].  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.

BY PERCENTAGE

I bequeath %_____ of my estate to The Adirondack Community Trust, a New York nonprofit corporation, for support of its general charitable purposes.  [Optional: The Fund so established shall be known as the [name of Fund]].  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.

SPECIFIC ASSET

I bequeath ________shares of common stock of ______________Company to The Adirondack Community Trust, a New York nonprofit corporation, for support of its general charitable purposes.  [Optional: The Fund so established shall be known as the [name of Fund]].  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.

RESIDUARY ESTATE

I bequeath all the residue of my estate, real or personal, which I own at the time of my death or over which I have the power of disposition to The Adirondack Community Trust, a New York nonprofit corporation, for support of its general charitable purposes.  [Optional: The Fund so established shall be known as the [name of Fund]].  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.

BEQUEST TO CREATE OTHER KINDS OF FUNDS

In addition to unrestricted gifts, donors can create any other kind of fund by bequest.  Donors may also create more than one kind of fund in their wills, such as a field of interest fund and a designated fund in the same bequest.  Here is how a donor might create a field of interest fund supporting a local art center or senior citizen center:

I bequeath to $_____________ to The Adirondack Community Trust, a New York nonprofit corporation, to create the [insert name of fund as determined by donor (the "Fund")].  The Fund shall be governed by the Articles of Incorporation and Bylaws of ACT (the "Governing Instruments"), and all amendments and policies adopted by the Board of Trustees of ACT under the authority of the Governing Instruments.  The Adirondack Community Trust shall use the fund to support institutions in the Adirondack region of New York, supporting arts and humanities or assisting senior citizens.

Download sample bequest language.