BEQUESTS
For many friends of the Foundation for Economic Education, the
best way to make a gift is in the form of a
bequest. This easy-to-follow guide is designed
to help you accomplish this goal.
There are several types of bequests from which to choose:
Cash Bequest—FEE receives a specific dollar amount.
Example:
"I give $______ to the Foundation for Economic
Education in Irvington-on-Hudson, New York for its
general purposes [or for the following
purpose:_________]."
Bequest of Property—FEE receives specific assets, such as
securities, an interest in real estate, or tangible
personal property (e.g. works of art, books,
antiques).
Example:
"I give 1,000 shares of Acme Corporation to the
Foundation for Economic Education in
Irvington-on-Hudson, New York for its general
purposes [or for the following purpose:__________]."
Residuary Bequest—FEE receives all or a percentage of your
estate after the payment of any specific bequests
and all estate-related expenses.
Example: "I
give all [or a specific percentage] of the rest,
residue, and remainder of my estate to the
Foundation for Economic Education in
Irvington-on-Hudson, New York for its general
purposes [or for the following purpose:_________]."
Contingent Bequest—FEE is given a bequest only in the event of
the death of other beneficiaries.
Example: "I
direct that if any of the above-named beneficiaries
should predecease me, then the share of that
beneficiary should be transferred to the Foundation
for Economic Education in Irvington-on-Hudson, New
York for its general purposes [or for the following
purpose:________]."
Restricted versus Unrestricted Bequests
While unrestricted gifts enable the Trustees of FEE to allocate
gifts to areas of greatest need, you may designate
your bequest to a specific purpose, use, activity,
or program at FEE. In order to ensure that the
evolving needs of future generations are met, it is
advisable to include the following language with
restricted gifts:
If at any time in the judgment of the Board of
Trustees of the Foundation for Economic Education it
is impossible or impractical to carry out exactly
the designated purpose, the Board of Trustees shall
determine an alternative purpose as near as possible
to the designated purpose.
Formalize Your Intentions
Once you have the details of your bequest in mind, you are ready
to formalize your intentions. This should be done
by having a will prepared, or in some instances, by
signing a codicil to your existing will. This is
best done by an attorney to ensure that your
intentions are properly set forth.
Mark Richter,
Director of Philanthropy at FEE, will be happy to
assist you and to answer your questions:
(866)-466-1946
(Direct toll-free line)
mrichter@fee.org
