Make A Bequest
The most common type of planned gift is a bequest through a will or trust. Click on each heading below to learn more about three types of bequests naming the JPR Foundation as beneficiary:
OUTRIGHT BEQUEST
Outright bequests are made for a specified asset i.e., a stated amount or percentage of cash, stocks, real estate, or items of personal property. Example: I give, devise and bequeath the sum of $10,000; or 100 shares of the ABC Corporation; or 10% of the total value of my estate to the JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
RESIDUARY BEQUEST
Residuary bequests provide for the transfer of all or a portion of an estate that remains after all outright bequest provisions are fulfilled. Example: I give, devise and bequeath the residue; or 25% of the residue of my estate to the JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
CONTINGENT BEQUEST
Contigent bequests are made when the original beneficiary named in the will is unable to accept the asset or property. This type of bequest can be all or a portion of an estate. This type of arrangement is advantageous for someone whose main concern is providing for his/her family. For example, a donor can bequeath his/her entire estate to his/her spouse; if the spouse predeceases the donor, the bequest benefits the contingencies.
It is important to include the precise legal name of the JPR Foundation when making a bequest to benefit JPR. The correct name should be:
The JPR Foundation, Inc., an Oregon non-profit, tax-exempt corporation located in Ashland, Oregon.
We now offer an online will-writing tool to our listeners. In 20 minutes or less, you can write your will, plan for your future, and if you so choose, include the necessary language to support JPR for future generations.
Is An Online Will For Everyone?
If you have a particularly large or complicated estate, you may want to have your will drafted by an attorney instead. We can help facilitate the process. Send an email to westhelle@sou.edu to find out more.