Your bequest to the Medical Foundation of North Carolina, Inc., for the benefit of the UNC Chapel Hill Division of Speech and Hearing Sciences is very important. A bequest is a gift of any amount made to the Foundation and the Division in your will. You may include a charitable bequest when you execute a new will, or you can add it to an existing will through a codicil.
Sample bequest language:
To make a bequest, simply include a paragraph in your will naming The Medical Foundation of North Carolina, Inc., for the benefit of the UNC Chapel Hill Division of Speech and Hearing Sciences.
“I give, devise and bequeath (the sum of $______) or (_______% of my estate or the residue of my estate) to The Medical Foundation of North Carolina, Inc., a 501 (c) (3) created to maintain funds for the UNC School of Medicine with principal offices located at 880 Martin Luther King, Jr. Boulevard, Chapel Hill, NC, 27514-2600 for the benefit of the Division of Speech and Hearing Sciences in the School of Medicine at The University of North Carolina at Chapel Hill to be used for unrestricted needs.”
You can also direct your bequest to a specific purpose such as a professorship or scholarship. It is very important that the bequest be correctly stated in your estate plan, and we would be happy to prepare specific language for you to share with your attorney. For more information, please contact Kyle Gray at (919) 966-3352 or firstname.lastname@example.org.
Types of Bequests
Specific bequest–states a specific amount or specific asset. It may be a gift of cash, securities, real estate, or tangible personal property (for example, artwork, antiques, jewelry, or coin/stamp collections).
Residuary bequest–names the Medical Foundation of NC, Inc., for the benefit of the Division of Speech and Hearing Sciences to receive all or a percentage of the remainder of the estate after specific bequests have been fulfilled.
Contingent bequest–takes effect only if all primary beneficiaries named in the will predecease you. Declaring the Medical Foundation of NC, Inc., for the benefit of the Division of Speech and Hearing Sciences as a contingent beneficiary can prevent the property from going to the state if there are no surviving heirs.
Click here to compare the benefits of making a bequest to other estate and life income gifts.