Bequest
A bequest is a gift you can make to support Yellowstone Boys and Girls Ranch Foundation's mission in your will or living trust or with a codicil.
A bequest allows you to continue to use the property you will leave to us during your life and make a lasting impact on our work after you are gone.
Benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to our organization
Charitable bequest video
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Yellowstone Boys and Girls Ranch Foundation as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Yellowstone Boys and Girls Ranch Foundation
- Include a bequest to Yellowstone Boys and Girls Ranch Foundation in your will or revocable trust
- Designate Yellowstone Boys and Girls Ranch Foundation as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Yellowstone Boys and Girls Ranch Foundation as a beneficiary of your life insurance policy
A bequest may be made in several ways
- 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. For example, you may wish to leave your home or $10,000 to Yellowstone Boys and Girls Ranch Foundation.
- Percentage Bequest - Another kind of bequest involves leaving a specific percentage of your overall estate to our organization. For example, you may wish to leave 10% of your estate to Yellowstone Boys and Girls Ranch Foundation.
- Residual Bequest - A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to our organization. For example, you may wish to leave 30% of the residue of your estate to Yellowstone Boys and Girls Ranch Foundation.
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
If you are considering making an outright bequest to Yellowstone Boys and Girls Ranch Foundation, we recommend the following language.
Please contact us for our private federal tax identification number.
If you are considering making a bequest of a percentage of your estate to Yellowstone Boys and Girls Ranch Foundation, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
I hereby give, devise and bequeath to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Yellowstone Boys and Girls Ranch Foundation, a nonprofit organization located at 2050 Overland Ave, Billings, MT 59102, Federal Tax ID #_______________, DESCRIPTION OF PROPERTY to be used for Yellowstone Boys and Girls Ranch Foundation's general use and purpose.
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Yellowstone Boys and Girls Ranch Foundation flexibility should it no longer be possible for Yellowstone Boys and Girls Ranch Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Yellowstone Boys and Girls Ranch Foundation, it shall become impossible for Yellowstone Boys and Girls Ranch Foundation to use this bequest to accomplish the specific purposes of this bequest, Yellowstone Boys and Girls Ranch Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Yellowstone Boys and Girls Ranch Foundation as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.
