Bequest Overview

Bequest Overview

There are a number of ways you can make a bequest for the benefit of St. Mark Catholic School:

Specific Bequest

A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount.
 

Percentage Bequest

Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity.
 

Residual Bequest

A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity.
 

Contingent Bequest

A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to charity.