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Marshfield Clinic health system foundation's Bequest Language


An excellent way for you to support Marshfield Clinic Health System Foundation's mission is to leave us a gift in your will or trust. One significant benefit of making a gift in your will or trust is that it allows you to continue to use the property you will leave to Marshfield Clinic Health System Foundation during your life. Another benefit is that you are able to leave a lasting legacy when your gift does come to the Foundation to support a fund or to be used for a specific purpose by Marshfield Clinic Health System.
 

Types of Bequests


There are a number of ways you can make a bequest to Marshfield Clinic Health System Foundation.
 
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, stock, or other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Marshfield Clinic Health System Foundation.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Marshfield Clinic Health System 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 charity. For example, you may wish to leave 30% of the residue of your estate to Marshfield Clinic Health System Foundation.

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 Marshfield Clinic Health System Foundation.
 

Bequest Benefits

 
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as you intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
 

Bequest Language


In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Marshfield Clinic Health System Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to Marshfield Clinic Health System Foundation, we recommend the following language:
 
Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449, for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449, for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).

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 Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449, for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).
 
2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Marshfield Clinic Health System 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 Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449, for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).
 
3. Residual Bequest
 
I hereby give, devise and bequeath to Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).
 
4. Contingent Bequest
 
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Marshfield Clinic Health System Foundation, a nonprofit organization located at 1000 N. Oak Avenue 1R1, Marshfield, WI, 54449,  DESCRIPTION OF PROPERTY to be used for Marshfield Clinic Health System Foundation's general use and purpose (or specify a specific use).
 

Restricted Bequests


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 Marshfield Clinic Health System Foundation flexibility should it no longer be possible for our Marshfield Clinic Health System Foundation to use your gift as you originally intended:
 
If, in the judgment of the Board of Directors of Marshfield Clinic Health System Foundation, it shall become impossible for Marshfield Clinic Health System Foundation to use this bequest to accomplish the specific purposes of this bequest, Marshfield Clinic Health System 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


Please contact us if you have any questions about how to make a gift in your will or trust to Marshfield Clinic Health System Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a gift in your will or trust to us.

If you have included a gift for Marshfield Clinic Health System Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
 
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