Naming The LIVESTRONG Foundation or its Endowment as a beneficiary in your estate plan is a simple and lasting way to empower and help those affected by cancer.
A bequest gift is one of the easiest ways to make a legacy gift to LIVESTRONG or its Endowment and this gift can be included in the body of your will or in an addition to it (a codicil). To name LIVESTRONG or its Endowment as a beneficiary, please use the language: "LIVESTRONG [or its Endowment] at 2201 East Sixth Street, Austin, TX 78702, EIN 74-2806618." You may designate your bequest for a specific purpose. Testamentary gifts to LIVESTRONG or its endowment are typically deductible for estate-tax purposes and may be made in the following ways:
Residuary Bequest - You may state that all or a portion of your estate be gifted to LIVESTRONG or its Endowment after specific amounts are distributed to other beneficiaries.
Specific Bequest - You may stipulate that a certain percentage of you estate, or a certain dollar amount, or particular securities or other assets be gifted to LIVESTRONG or its Endowment.
Testamentary Charitable Trust - You may establish a unitrust or annuity trust for specific beneficiaries through your will. The trust principal is transferred to LIVESTRONG or its Endowment only after the death of the last trust beneficiary.
Suggested Bequest Language
The provisions in your will for making a gift to LIVESTRONG or its Endowment will depend upon the type of gift and your gifting desire and circumstances. The following are helpful types of bequest language that you and your attorney may consider when making a gift provision for:
LIVESTRONG - [your gift will specifically support programs and operations conducted by LIVESTRONG]
Endowment - [the earnings from your gift will provide long-term support for the programs operated by the LIVESTRONG]
General, Specific Asset or Residuary Gift
"I give (insert gift; i.e.: dollar amount, percentage of estate, specific asset(s) — appreciated securities / retirement plan assets / real estate / tangible personal property, rest, residue and remainder of estate) to LIVESTRONG [or its Endowment] at 2201 East Sixth Street, Austin, TX 78702, EIN 74-2806618, to be used for its unrestricted general charitable purposes OR the purpose of [insert preferred LIVESTRONG Program designation here]. If at any time it becomes impossible or impractical for my gift to be used for the above designated purpose, LIVESTRONG's Executive Committee shall use my gift for a purpose and in a manner that it determines most closely meets the above designated purpose."
"I give the remainder and residue of the property owned by me at my death, whether real and personal, and wherever situate, to my beneficiary_______________ [insert beneficiary name], if my beneficiary survives me. If my beneficiary does not survive me, I give my residuary estate to LIVESTRONG [or its Endowment] at 2201 East Sixth Street, Austin, TX 78702, EIN 74-2806618, for its unrestricted general charitable purposes OR the purpose of [insert preferred LIVESTRONG Program designation here]. If at any time it becomes impossible or impractical for my gift to be used for the above designated purpose, LIVESTRONG's Executive Committee shall use my gift for a purpose and in a manner that it determines most closely meets the above designated purpose."
Endowment Gift for a Specific Purpose (minimum gift of $25,000)
Prior to making this gift it is recommended that you discuss your intent with LIVESTRONG Planned Giving staff, 512.279.8413 or email email@example.com:
"I give to LIVESTRONG at 2201 East Sixth Street, Austin, TX 78702, EIN 74-2806618, the sum of $__________ (or ______ percent of my estate; or the property described herein) to be used to endow The (insert preferred LIVESTRONG Program designation here) Endowed Fund OR establish, In Honor Or Memory, the Named ______________________ Endowed Fund. If, in the future, in the opinion of the LIVESTRONG Board of Directors, all or part of this fund cannot be usefully applied to the above purpose (or in the above manner), then the assets of the Endowed Fund shall be applied to and become part of the General LIVESTRONG Endowment funds."
An estate gift reflects your deepest personal wishes and it should be carefully constructed to accomplish exactly what you desire to happen to your estate assets to find the most appropriate way for you to remember LIVESTRONG or its Endowment in your estate gift planning. The above information is intended only to serve as a guideline for you and not as a substitute for professional legal, tax or investment advice or counsel.