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Sample Bequest
Sample Bequest Language
A bequest to Van Andel Institute (VAI) may take one of four forms and may be unrestricted or restricted as to purpose. Language reflecting unrestricted bequests allows the Institute to determine the best use of the funds at the time that they become available. Van Andel Institute encourages you to consult with your family and estate planning advisor(s) since this gift will affect your financial and estate planning circumstances. For more information on making a planned gift to Van Andel Institute, contact the Development Office at 616-234-5171.
Sample language for unrestricted bequests includes:
Specific Bequest: A specific bequest designates a fixed dollar amount or specific asset(s) to VAI.
“I give to Van Andel Institute, 333 Bostwick NE, Grand Rapids, Michigan 49503, [$____(dollars)] or [designated asset(s)].”
Restricted Bequest: When a donor wishes the bequest be utilized for a specific purpose, a restricted bequest is made, such as in the following statement:
“I give to Van Andel Institute, 333 Bostwick NE, Grand Rapids, Michigan 49503, the greater of $____ (dollars) or _____ % (percent) of my estate for the following purpose: ________.”
If you have an existing will or trust, you can amend it with a codicil or amendment to include Van Andel Institute.
Percentage Bequest: A percentage bequest designates a percentage of your estate to the Institute.
“I give to Van Andel Institute, 333 Bostwick NE, Grand Rapids, Michigan 49503, _____ % (percent) of my estate.”
Residuary Bequest: A residuary bequest designates the remainder of your estate after all expenses have been paid and all specific bequests have been satisfied.
“I give [all] or [_____ % (percent)] of the residue of my estate to Van Andel Institute, 333 Bostwick NE, Grand Rapids, Michigan 49503.”
Contingent Bequest: A contingent bequest designates a bequest to VAI if other beneficiaries are not alive when your will takes effect.
“I give to ____________________ (name) the greater of $______ (dollars) or _____ % (percent) of my estate. In the event that he/she shall predecease me, I direct this sum, or percent, to be paid to Van Andel Institute, 333 Bostwick NE, Grand Rapids, Michigan 49503.”
Note: Van Andel Institute’s tax identification number is 52-2000820.